Updated version 2 - Driven by the "Quick Commerce" model, Delivery Hero raises its annual performance guidance again

Added the reasons for third quarter growth in paragraph 1; supplemented CEO comments in paragraphs 4, 5, 9, 10, and 11; included stock price movement in paragraph 8; and added information on the Taiwan business in paragraph 9.

Ozan Ergenay/Paolo Laudani

Reuters, October 28 - German food delivery platform Delivery Hero (DHER.DE)—which is facing a takeover bid from US rival Uber (UBER.N)—on Wednesday raised its full-year performance forecast for the second time this year after reporting strong quarterly growth ((link)). The growth is attributed to the rapid expansion of its quick commerce business.

The company now expects gross merchandise value (GMV) this year—the total value of orders placed via its platform—to rise by 10% to 12%, above its previous guidance range of 9% to 11%.

Analysts surveyed by the company (link) expect the average annual GMV growth rate for 2026 to be 9.1%, reaching a total value of €51.63 billion (equivalent to $57.48 billion).

CEO Niklas Östberg told Reuters that the strong momentum in the group's "quick commerce" business—on-demand delivery of groceries and other daily necessities—was a key driver behind the upgraded guidance and the quarterly results.

"When a sizable part of the business is growing at a rate of 40%, that drives overall growth, and I think that's one of the reasons we're seeing growth accelerating," Östberg said.

The guidance upgrade comes as the company weighs Uber’s bid to acquire Delivery Hero—Uber is seeking to expand its international business footprint—while uncertainties in consumer demand persist.

Delivery Hero’s gross merchandise value in the third quarter (GMV) reached €13.9 billion , up 13.6% from a year earlier, when it was €12.2 billion.

The stock price was largely flat after the opening.

Taiwan business under review

Östberg also said that after regulators blocked last week (link) the sale of its Foodpanda business in Taiwan to Singapore-based Grab GRAB.O, Delivery Hero is still evaluating the future of its business in Taiwan.

"We will evaluate whether to continue operations, or try to find another buyer. These options are still being discussed," he said.

Östberg added that the Taiwan situation is not a primary topic in discussions with Uber, nor is it a precondition for closing the deal.

(1 US dollar = 0.8981 euro)

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