Delivery Hero describes Asia as its fastest-growing region and says its food-delivery platforms there broke even last month – before taking into account group costs
The Berlin-headquartered company owns the Foodpanda and Baemin (Woowa) businesses in Asia, which collectively saw orders increase by 169 per cent year on year during the three months to March 31. Delivery Hero operates in more than 50 countries across Europe, Asia, Latin America and the Middle East, partnering with more than 500,000 restaurants and food providers.
Releasing its global results today, the company singled out its Asian success saying revenue rose 47 per cent in the region and GMV by 35 per cent during the final (March) quarter.
A contributor to the success was its growing Pandapro subscription service which now boasts 1 million subscribers across 10 markets – representing an eight-fold growth against the first quarter of last year.
A company spokesperson said the accelerated roll-out of Pandapro in Taiwan and Hong Kong this year is expected to ensure the rate of uptake across Asia continues. Members are shown to spend about 10 per cent more on orders than non-members, and order more frequently.
Globally, Delivery Hero recorded a year-on-year sales increase of 52 per cent, reaching US$2.2 billion, outperforming rival online delivery platforms, it said.
“As a group, Delivery Hero sees a clear path to profitability, and is on track to break even by 2023,” it said in a statement.