Delivery Hero SE

DHER: XETR (DEU)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Delivery Hero: Gross Merchandise Value Falls Short of Expectations; Optimism About Asia Improves

Verushka Shetty

Feb 27, 2026

Delivery Hero’s fourth quarter trading update included year-over-year gross merchandise value (GMV) growth of 8% and 21% revenue growth, both on a like-for-like basis. For the full year 2025, revenue increased by 23% and adjusted EBITDA exceeded EUR 900 million. Shares fell around 7% intraday.

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Delivery Hero SE

Delivery Hero: Gross Merchandise Value Falls Short of Expectations; Optimism About Asia Improves

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