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Balance sheet as of December 31, 2019 A s s e t s
EUR EUR EUR EUR
A. Fixed assets
I. Intangible assets
1. Internally generated intangible assets 4.210.624,54 1.491.439,92
2. Purchased trademarks and software 11.453.356,33 12.942.771,61
3. Advance payments and
Investments in development 2.383.836,40 18.047.817,27 715.548,05 15.149.759,58
II. Property, plant and equipment
1. Plant and machinery 315.875,73 221.554,76
2. Office and other operating
equipment 6.290.456,90 5.587.415,53
3. Advance payments and
assets under construction 1.323.216,96 7.929.549,59 210.737,28 6.019.707,57
III. Financial assets
1. Shares in affiliated companies 1.479.002.121,16 1.686.319.991,85
2. Loans to affiliated
companies 766.856.064,01 500.379.379,32
3. Investments 225.674.437,76 205.937.859,83
4. Securities held as fixed assets. 464.275.334,11 7.309.142,96
5. Shares in other investments 43.661.696,00 2.979.469.653,04 276.663,44 2.400.223.037,40
3.005.447.019,90 2.421.392.504,55
B. Current assets
I. Inventories
1. Unfinished goods and unfinished service 955.500,00 1.892.106,23
2. Finished goods and merchandise 1.627.670,65 1.882.596,26
3. Advance payments 2.174.514,78 4.757.685,43 1.470.467,55 5.245.170,04
II. Receivables and other assets
1. Trade receivables 4.658.315,93 859.965,68
2. Receivables from
affiliated companies 102.202.971,07 77.029.358,85
3. Other assets 57.374.973,61 164.236.260,61 28.276.374,95 106.165.699,48
III. Cash on hands and bank balances 252.069.430,24 111.379.269,19
421.063.376,28 222.790.138,71
C. Deferred expenses 10.253.281,16 4.414.052,24
3.436.763.677,34 2.648.596.695,50
Delivery Hero SE, Berlin
31.12.2019 31.12.2018
Shareholder's e q u i t y a n d l i a b i l i t i e s
EUR EUR EUR EUR
A. Shareholder's Equity
I. Issued capital
1. Subscribed capital 188.775.039,00 185.930.494,00
2. Own shares (nominal value) -78.230,02 188.696.808,98 -78.230,02 185.852.263,98
II. Capital reserve 2.785.105.143,10 2.723.479.566,21
III. Loss carryforward -346.045.872,26 -339.030.839,23
IV. Net profit/loss for the year 446.490.782,70 -7.015.033,03
3.074.246.862,52 2.563.285.957,93
B. Provisions
1. Tax provisions 8.285.712,91 3.173.288,91
2. Other provisions 131.228.928,83 18.783.997,49
139.514.641,74 21.957.286,40
C. Liabilities
1. Liabilities to banks 208.000.000,00 0,00
1. Trade payables 437.682,47 466.391,74
2. Liabilities to affiliated companies 2.683.112,27 54.172.932,19
3. Other liabilities 10.862.123,71 7.574.675,83
– thereof for taxes EUR 1.646.674,80
(PY: EUR 1.143.492,44 ) –
– thereof for social security
EUR 268.136,95 (PY: EUR 172.108,27 ) –
221.982.918,45 62.213.999,76
D. Deferred income 1.019.254,63 1.139.451,41
3.436.763.677,34 2.648.596.695,50
31.12.201831.12.2019
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_VA;B>`
Notifying Entity Date Reached,
Exceeded, or
Fell Under
Notification
Threshold
Notification
Requirements under
WpHG § 333/WpHG
§ 38(1) No.
(1)4/WpHG § 38(1)
No. (2)5 or
Attributions Under
WpHG § 346
Interest in
%
Interest in
Voting Rights
Citi Group Inc,
Wilmington,
Delaware, United
States7
June 28, 2017 5%
Over
WpHG § 34 5.51%
9,475,000
Naspers Limited,
Cape Town, South
Africa8
June 28, 2017 10%
Over
WpHG § 34 10.65%
18,310,002
Citi Group Inc,
Wilmington,
June 29, 2017 3% WpHG § 34 0.00% 0
""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""" $
formerly WpHG § 21 (until December 31, 2017)
% formerly WpHG § 25(1)(1) (until December 31, 2017)
& formerly WpHG § 25(1)(2) (until December 31, 2017)
' formerly WpHG § 22 (until December 31, 2017)
( cf. publication by Delivery Hero SE from July 4, 2017
) cf. publication by Delivery Hero SE from July 6, 2017
!)"
Delaware, United
States9
Under
Lukasz Gadowski10
June 28, 2017 5%
Over
WpHG §§ 34, 38(1) No.
(1)
6.47%
11,119,800
Goldman Sachs
Group, Inc.,
Wilmington,
Delaware, United
States11
June 28, 2017 5%
Over
WpHG § 34 5.51%
9,475,000
Jeff Horning12
June 28, 2017 5%
Over
WpHG § 34 7.51%
12,912,900
Christian Leone13
June 28, 2017 5%
Over
WpHG § 34 8.92%
15,340,500
Luxor Capital
Partners Offshore,
Ltd., George Town,
Cayman Islands14
June 28, 2017
5%
Over
WpHG § 34 7.15%
12,292,200
Rocket Internet SE,
Berlin, Germany15
June 28, 2017 30%
Over
WpHG §§ 34, 38(1) No.
(1)
31.76%
54,633,219
Rocket Internet SE,
Berlin, Germany16
July 4, 2017 30%
Under
WpHG §§ 34, 38(1) No.
(1)
28.64%
49,266,522
Goldman Sachs
Group, Inc,
Wilmington,
Delaware, United
States17
July 4, 2017 3%
Under
WpHG §§ 34, 38(1) No.
(1), 38(1) No. (2)
1.74%
2,993,889
"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""*
cf. publication by Delivery Hero SE from July 6, 2017
!+ cf. publication by Delivery Hero SE from July 6, 2017
!! cf. publication by Delivery Hero SE from July 6, 2017
!# cf. publication by Delivery Hero SE from July 6, 2017 and correction by Delivery Hero SE from July 7, 2017
!$ cf. publication by Delivery Hero SE from July 6, 2017 and correction by Delivery Hero SE from July 7, 2017
!% cf. publication by Delivery Hero SE from July 6, 2017
!& cf. publication by Delivery Hero SE from July 7, 2017
!' cf. publication by Delivery Hero SE from July 11, 2017
!( cf. publication by Delivery Hero SE from July 12, 2017
!*"
Naspers Limited,
Cape Town, South
Africa18
September 28,
2017
20%
Over
WpHG §§ 34, 38(1) No.
(2)
23.65%
40,669,859
Rocket Internet SE,
Berlin, Germany19
December 6,
2017
25%
Under
WpHG §§ 34, 38(1) No.
(1)
24,35%
44,432,114
Lukasz Gadowski20
December 6,
2017
5%
Under
WpHG §§ 34, 38(1) No.
(1)
4.95% 9,035,003
Christian Leone21
January 5, 2018 5%
Under
WpHG § 34 4.76% 8,691,075
Luxor Capital
Partners Offshore,
Ltd., George Town,
Cayman Islands22
January 5, 2018 3%
Over
WpHG § 34 3.30% 6,020,786
Christian Leone23
March 2, 2018 5%
Over
WpHG § 34 5.003% 9,130,879
Naspers Limited,
Cape Town, South
Africa24
March 22, 2018 20%
Over
WpHG §§ 34, 38(1) No.
(2)
22.75% 41,849,859
Naspers Limited,
Cape Town, South
Africa25
March 26, 2018 20%
Over
WpHG §§ 34, 38(1) No.
(2)
22.75% 41,849,859
Naspers Limited,
Cape Town, South
Africa26
March 28, 2018 20%
Over
WpHG §§ 34, 38(1) No.
(2)
22.75% 41,849,859
Rocket Internet SE,
Berlin, Germany27
March 28, 2018 10% WpHG §§ 34, 38(1) No.
(1)
8.39% 15,439,412
"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!)
cf. publication by Delivery Hero SE from October 2, 2017
!* cf. publication by Delivery Hero SE from December 13, 2017
#+ cf. publication by Delivery Hero SE from December 15, 2017"
#! cf. publication by Delivery Hero SE from January 15, 2018
## cf. publication by Delivery Hero SE from January 15, 2018
#$ cf. publication by Delivery Hero SE from March 12, 2018
#% cf. publication by Delivery Hero SE from March 27, 2018
#& cf. publication by Delivery Hero SE from March 29, 2018
#' cf. publication by Delivery Hero SE from March 29, 2018
#( cf. publication by Delivery Hero SE from April 5, 2018
#+"
Under
Lukasz Gadowski28
April 27, 2018 3%
Under
WpHG § 34 2.55% 4,684,634
Vanguard World
Funds,
Wilmington,
Delaware, United
States29
May 3, 2018 3%
Over
WpHG § 33 3.07% 5,651,813
BlackRock, Inc.,
Wilmington,
Delaware, United
States30
June 15, 2018 3%
Over
WpHG §§ 34, 38(1) No.
(1), 38(1) No. (2)
3.39% 6,251,043
BlackRock, Inc.,
Wilmington,
Delaware, United
States31
June 19, 2018 3%
Over
WpHG §§ 34, 38(1) No.
(1), 38(1) No. (2)
3.33% 6,139,565
BlackRock, Inc.,
Wilmington,
Delaware, United
States32
June 20, 2018 3%
Over
WpHG §§ 34, 38(1) No.
(1), 38(1) No. (2)
3.34%
6,157,882
Baillie Gifford &
Co., Edinburgh,
Scotland, United
Kingdom33
June 25, 2018 3%
Over
WpHG § 34 3.21% 5,915,414
BlackRock, Inc.,
Wilmington,
Delaware, United
States34
July 3, 2018 3%
Over
WpHG §§ 34, 38(1) No.
(1), 38(1) No. (2)
3.30% 6,080,206
BlackRock, Inc.,
Wilmington,
July 4, 2018 3%
Over
WpHG §§ 34, 38(1) No.
(1), 38(1) No. (2)
3.26% 6,015,245
"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""#)
cf. publication by Delivery Hero SE from May 7, 2018
#* cf. publication by Delivery Hero SE from May 11, 2018
$+ cf. publication by Delivery Hero SE from June 22, 2018
$! cf. publication by Delivery Hero SE from June 22, 2018
$# cf. publication by Delivery Hero SE from June 25, 2018
$$ cf. publication by Delivery Hero SE from June 29, 2018
$% cf. publication by Delivery Hero SE from July 10, 2018
#!"
Delaware, United
States35
BlackRock, Inc.,
Wilmington,
Delaware, United
States36
July 5, 2018 3%
Over
WpHG §§ 34, 38(1) No.
(1), 38(1) No. (2)
3.37% 6,208,458
BlackRock, Inc.,
Wilmington,
Delaware, United
States37
July 6, 2018 3%
Over
WpHG §§ 34, 38(1) No.
(1), 38(1) No. (2)
3.28% 6,051,749
BlackRock, Inc.,
Wilmington,
Delaware, United
States38
July 9, 2018 3%
Over
WpHG §§ 34, 38(1) No.
(1), 38(1) No. (2)
3.28% 6,043,515
BlackRock, Inc.,
Wilmington,
Delaware, United
States39
July 16, 2018 3%
Over
WpHG §§ 34, 38(1) No.
(1), 38(1) No. (2)
3.27% 6,032,134
BlackRock, Inc.,
Wilmington,
Delaware, United
States40
July 17, 2018 3%
Over
WpHG §§ 34, 38(1) No.
(1), 38(1) No. (2)
3.27% 6,034,233
Baillie Gifford &
Co., Edinburgh,
Scotland, United
Kingdom41
July 24, 2018 5%
Over
WpHG § 34 5.01% 9,236,540
BlackRock, Inc.,
Wilmington,
Delaware, United
States42
July 25, 2018 3%
Over
WpHG §§ 34, 38(1) No.
(1), 38(1) No. (2)
3.26% 6,014,762
BlackRock, Inc.,
Wilmington,
August 3, 2018 3%
Over
WpHG §§ 34, 38(1) No.
(1), 38(1) No. (2)
3.28% 6,053,350
"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""$&
cf. publication by Delivery Hero SE from July 10, 2018"
$' cf. publication by Delivery Hero SE from July 10, 2018
$( cf. publication by Delivery Hero SE from July 16, 2018
$) cf. publication by Delivery Hero SE from July 16, 2018
$* cf. publication by Delivery Hero SE from July 19, 2018
%+ cf. publication by Delivery Hero SE from July 24, 2018
%! cf. publication by Delivery Hero SE from July 30, 2018
%# cf. publication by Delivery Hero SE from August 2, 2018
##"
Delaware, United
States43
BlackRock, Inc.,
Wilmington,
Delaware, United
States44
August 15, 2018 3%
Over
WpHG §§ 34, 38(1) No.
(1), 38(1) No. (2)
3.20% 5,953,516
Ruane, Cunniff &
Goldfarb L.P.,
Wilmington,
Delaware, United
States45
September 14,
2018
3%
Over
WpHG § 34 3.01% 5,604,465
Caledonia (Private)
Investments Pty
Limited, Sydney,
Australia46
October 11, 2018 3%
Over
WpHG § 33 3.09% 5,752,875
Rocket Internet SE,
Berlin, Germany47
January 17, 2019 5%
Over
WpHG §§ 34, 38(1) No.
(1)
5.25% 9,755,504
Rocket Internet SE,
Berlin, Germany48
January 25, 2019 5%
Under
WpHG §§ 34, 38(1) No.
(1)
4.95% 9,205,215
Rocket Internet SE,
Berlin, Germany49
April 5, 2019 5%
Under
WpHG §§ 34, 38(1) No.
(1)
3.28% 6,148,215
Rocket Internet SE,
Berlin, Germany50
April 18, 2019 3%
Under
WpHG §§ 34, 38(1) No.
(1)
2.93% 5,498,504
BlackRock, Inc.,
Wilmington,
Delaware, United
States51
May 17, 2019 3%
Over
WpHG §§ 34, 38(1) No.
(1)
3.19% 5,984,661
"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""%$
cf. publication by Delivery Hero SE from August 8, 2018
%% cf. publication by Delivery Hero SE from August 20, 2018 and correction by Delivery Hero SE from November 6, 2018
%& cf. publication by Delivery Hero SE from September 24, 2018
%' cf. publication by Delivery Hero SE from October 15, 2018
%( cf. publication by Delivery Hero SE from January 25, 2019
%) cf. publication by Delivery Hero SE from January 31, 2019
%* cf. publication by Delivery Hero SE from April 10, 2019"
&+ cf. publication by Delivery Hero SE from April 25, 2019
&! cf. publication by Delivery Hero SE from May 23, 2019
#$"
BlackRock, Inc.,
Wilmington,
Delaware, United
States52
May 20, 2019 3%
Over
WpHG §§ 34, 38(1) No.
(1)
3.17% 5,937,342
BlackRock, Inc.,
Wilmington,
Delaware, United
States53
May 22, 2019 3%
Over
WpHG §§ 34, 38(1) No.
(1)
3.24% 6,109,240
BlackRock, Inc.,
Wilmington,
Delaware, United
States54
May 27, 2019 3%
Over
WpHG §§ 34, 38(1) No.
(1)
3.15% 5,948,850
BlackRock, Inc.,
Wilmington,
Delaware, United
States55
May 28, 2019 3%
Over
WpHG §§ 34, 38(1) No.
(1)
3.45% 6,515,001
Baillie Gifford &
Co., Edinburgh,
Scotland, United
Kingdom56
August 20, 2019 5%
Over
WpHG § 34 6.88% 12,981,413
BlackRock, Inc.,
Wilmington,
Delaware, United
States57
September 6,
2019
3%
Over
WpHG §§ 34, 38(1) No.
(1)
3.54% 6,675,133
BlackRock, Inc.,
Wilmington,
Delaware, United
States58
September 10,
2019
3%
Over
WpHG §§ 34, 38(1) No.
(1), 38(1) No. (2)
3.53% 6,671,303
Baillie Gifford &
Co., Edinburgh,
Scotland, United
Kingdom59
October 1, 2019 10%
Over
WpHG § 34 10.57% 19,952,248
"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""&#
cf. publication by Delivery Hero SE from May 27, 2019
&$ cf. publication by Delivery Hero SE from May 28, 2019
&% cf. publication by Delivery Hero SE from June 3, 2019
&& cf. publication by Delivery Hero SE from June 3, 2019
&' cf. publication by Delivery Hero SE from August 26, 2019
&( cf. publication by Delivery Hero SE from September 12, 2019
&) cf. publication by Delivery Hero SE from September 16, 2019
&* cf. publication and correction by Delivery Hero SE from October 8, 2019
#%"
BlackRock, Inc.,
Wilmington,
Delaware, United
States60
November 6,
2019
3%
Over
WpHG §§ 34, 38(1) No.
(1), 38(1) No. (2)
3.48% 6,574,448
Naspers Limited,
Cape Town, South
Africa61
March 20, 2019 20%
Over
WpHG § 34 22.32% 41,849,859
Naspers Limited,
Cape Town, South
Africa62
May 16, 2019 20%
Over
WpHG § 34 22.32% 41,849,859
Naspers Limited,
Cape Town, South
Africa63
September 14,
2019
20%
Over
WpHG § 34 22.17% 41,849,859
Gregory
Alexander64
November 6,
2019
5%
Over
WpHG § 34 5.38% 10,163,854
Ruane, Cunniff &
Goldfarb L.P.,
Wilmington,
Delaware, United
States65
November 6,
2019
3%
Under
WpHG § 34 0.02% 28,464
BlackRock, Inc.,
Wilmington,
Delaware, United
States66
November 13,
2019
3%
Over
WpHG §§ 34, 38(1) No.
(1), 38(1) No. (2)
3.50% 6,607,334
The Capital Group
Companies, Inc.,
Los Angeles,
California, United
States67
January 10, 2020 3%
Over
WpHG § 34 3.13% 5,908,196
"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""'+
cf. publication by Delivery Hero SE from November 12, 2019
'! cf. publication by Delivery Hero SE from November 12, 2019
'# cf. publication by Delivery Hero SE from November 12, 2019
'$ cf. publication by Delivery Hero SE from November 12, 2019
'% cf. publication by Delivery Hero SE from November 13, 2019
'& cf. publication by Delivery Hero SE from November 13, 2019
'' cf. publication by Delivery Hero SE from November 19, 2019"
'( cf. publication and correction by Delivery Hero SE from January 16, 2020
#&"
Naspers Limited,
Cape Town, South
Africa68
January 15, 2020
20%
Over
WpHG § 34 22.17% 41,849,859
The Capital Group
Companies, Inc.,
Los Angeles,
California, United
States69
January 16, 2020 5%
Over
WpHG § 34 5.82% 10,984,331
BlackRock, Inc.,
Wilmington,
Delaware, United
States70
January 16, 2020 3%
Over
WpHG §§ 34, 38(1) No.
(1), 38(1) No. (2)
3.64%
6,866,113&
BlackRock, Inc.,
Wilmington,
Delaware, United
States71
January 17, 2020 3%
Over
WpHG §§ 34, 38(1) No.
(1), 38(1) No. (2)
3.48% 6,847,893
BlackRock, Inc.,
Wilmington,
Delaware, United
States72
January 20, 2020 3%
Over
WpHG §§ 34, 38(1) No.
(1), 38(1) No. (2)
3.48% 6,848,127
BlackRock, Inc.,
Wilmington,
Delaware, United
States73
January 21, 2020 3%
Over
WpHG §§ 34, 38(1) No.
(1), 38(1) No. (2)
3.46% 6,821,120
Gregory
Alexander74
January 17, 2020 3%
Over
WpHG § 34 4.87% 9,600,000
BlackRock, Inc.,
Wilmington,
Delaware, United
States75
January 22, 2020 3%
Over
WpHG §§ 34, 38(1) No.
(1), 38(1) No. (2)
3.46% 6,814,532
"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""')
cf. publication by Delivery Hero SE from January 17, 2020
'* cf. publication by Delivery Hero SE from January 22, 2020
(+ cf. publication by Delivery Hero SE from January 23, 2020"
(! cf. publication by Delivery Hero SE from January 24, 2020"
(#"cf. publication by Delivery Hero SE from January 24, 2020"
($"cf. publication by Delivery Hero SE from January 24, 2020"
(%"cf. publication by Delivery Hero SE from January 27, 2020"
(&"cf. publication by Delivery Hero SE from January 27, 2020"
#'"
BlackRock, Inc.,
Wilmington,
Delaware,
Vereinigte Staaten
von Amerika76
January 30, 2020 3%
Over
WpHG §§ 34, 38(1) No.
(1), 38(1) No. (2)
3,46% 6,808,447
BlackRock, Inc.,
Wilmington,
Delaware,
Vereinigte Staaten
von Amerika77
February 04, 2020 3%
Over
WpHG §§ 34, 38(1) No.
(1), 38(1) No. (2)
3,44% 6,780,412
BlackRock, Inc.,
Wilmington,
Delaware,
Vereinigte Staaten
von Amerika78
24.02.2020 3%
Over
WpHG §§ 34, 38(1) No.
(1), 38(1) No. (2)
3,48% 6.856.219
BlackRock, Inc.,
Wilmington,
Delaware,
Vereinigte Staaten
von Amerika79
25.02.2020 3%
Over
WpHG §§ 34, 38(1) No.
(1), 38(1) No. (2)
3,46% 6.808.005
BlackRock, Inc.,
Wilmington,
Delaware,
Vereinigte Staaten
von Amerika80
28.02.2020 3%
Over
WpHG §§ 34, 38(1) No.
(1), 38(1) No. (2)
3,46% 6.821.710
BlackRock, Inc.,
Wilmington,
Delaware,
Vereinigte Staaten
von Amerika81
05.03.2020 3%
Over
WpHG §§ 34, 38(1) No.
(1), 38(1) No. (2)
3,45% 6.808.059
BlackRock, Inc.,
Wilmington,
Delaware,
Vereinigte Staaten
von Amerika82
10.03.2020 3%
Over
WpHG §§ 34, 38(1) No.
(1), 38(1) No. (2)
3,45% 6.820.611
BlackRock, Inc.,
Wilmington,
Delaware,
Vereinigte Staaten
von Amerika83
12.03.2020 3%
Over
WpHG §§ 34, 38(1) No.
(1), 38(1) No. (2)
3,43% 6.774.776
"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""('"vgl. Veröffentlichung durch die Delivery Hero SE vom 05.02.2020"
(("vgl. Veröffentlichung durch die Delivery Hero SE vom 10.02.2020"
()"vgl. Veröffentlichung durch die Delivery Hero SE vom 03.03.2020"
(*"vgl. Veröffentlichung durch die Delivery Hero SE vom 03.03.2020"
)+"vgl. Veröffentlichung durch die Delivery Hero SE vom 05.03.2020"
)!"vgl. Veröffentlichung durch die Delivery Hero SE vom 11.03.2020"
)#"vgl. Veröffentlichung durch die Delivery Hero SE vom 17.03.2020"
)$"vgl. Veröffentlichung durch die Delivery Hero SE vom 18.03.2020"
#("
BlackRock, Inc.,
Wilmington,
Delaware,
Vereinigte Staaten
von Amerika84
20.03.2020 3%
Over
WpHG §§ 34, 38(1) No.
(1), 38(1) No. (2)
3,46% 6.852.688
BlackRock, Inc.,
Wilmington,
Delaware,
Vereinigte Staaten
von Amerika85
23.03.2020 3%
Over
WpHG §§ 34, 38(1) No.
(1), 38(1) No. (2)
3,47% 6.872.103
BlackRock, Inc.,
Wilmington,
Delaware,
Vereinigte Staaten
von Amerika86
26.03.2020 3%
Over
WpHG §§ 34, 38(1) No.
(1), 38(1) No. (2)
3,59% 7.110.022
BlackRock, Inc.,
Wilmington,
Delaware,
Vereinigte Staaten
von Amerika87
27.03.2020 3%
Over
WpHG §§ 34, 38(1) No.
(1), 38(1) No. (2)
3,50% 6.929.682
BlackRock, Inc.,
Wilmington,
Delaware,
Vereinigte Staaten
von Amerika88
31.03.2020 3%
Over
WpHG §§ 34, 38(1) No.
(1), 38(1) No. (2)
3,65% 7.211.360
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Delivery Hero SE, Berlin
Annex IStatement of movements in fixed assets during the 2019 financial year (gross presentation)
Carried
forward
01.01.2019
Additions from
mergers 01.01.2019
Status after mergers
01.01.2019Additions Reclassifications Disposals 31.12.2019
EUR Mio. EUR Mio. EUR Mio. EUR Mio. EUR Mio. EUR Mio. EUR Mio.
I. Intangible assets
1. Internally generated intangible assets 2,0 0,0 0,0 3,6 0,5 -0,2 5,9
2. Purchased trademarks and software 17,9 0,0 0,0 2,1 -0,2 0,0 19,9
3. Advance payments and
assets under development 0,7 0,0 0,0 2,0 -0,3 0,0 2,4
20,6 0,0 0,0 7,7 0,0 -0,2 28,2
II. Property, plant and equipment
1. Plant and machinery 0,3 0,0 0,0 0,2 0,0 0,0 0,4
2. Office and other operating
equipment 9,9 0,0 0,0 3,3 0,0 -0,1 13,1
3. Advance payments and
construction in progress 0,2 0,0 0,0 1,1 0,0 0,0 1,3
10,4 0,0 0,0 4,5 0,0 -0,1 14,8
III. Financial assets
1. Shares in affiliated companies 1.795,2 800,4 2.595,6 253,7 0,0 -1.149,3 1.700,1
2. Loans to afilliated
companies 607,5 89,5 697,0 624,1 0,0 -367,0 954,0
3. Investments 205,9 0,0 0,0 24,2 0,0 -2,9 227,2
4. Securities classified as fixed assets 7,3 0,0 0,0 504,7 0,0 -47,7 464,3
5. Other Investments 5,6 0,0 0,0 43,4 0,0 0,0 49,0
2.621,6 889,9 3.292,6 1.450,0 0,0 -1.566,9 3.394,5
2.652,6 889,9 3.292,6 1.462,2 0,0 -1.567,2 3.437,5
Costs
Carried
forward
01.01.2019
Amotization, depreciation
and write-downs from
mergers 01.01.2019
Status after
mergers
01.01.2019
Amotization,
depreciation and write-
downs during the fiscal
year
Reclassifications Disposals 31.12.2019 31.12.2019 31.12.2018
EUR Mio. EUR Mio. EUR Mio. EUR Mio. EUR Mio. EUR Mio. EUR Mio. EUR Mio. EUR Mio.
0,5 0,0 0,0 1,3 0,0 -0,1 1,7 4,2 1,5
5,0 0,0 0,0 3,5 0,0 0,0 8,4 11,5 12,9
0,0 0,0 0,0 0,0 0,0 0,0 0,0 2,4 0,7
5,5 0,0 0,0 4,8 0,0 -0,1 10,1 18,0 15,1
0,0 0,0 0,0 0,1 0,0 0,0 0,1 0,3 0,2
4,3 0,0 0,0 2,5 0,0 -0,1 6,8 6,3 5,6
0,0 0,0 0,0 0,0 0,0 0,0 0,0 1,3 0,2
4,4 0,0 0,0 2,6 0,0 -0,1 6,9 7,9 6,0
108,9 106,9 215,8 67,7 0,0 -62,4 221,1 1.479,0 1.686,3
107,1 0,0 0,0 80,0 0,0 0,0 187,1 766,9 500,4
0,0 0,0 0,0 1,5 0,0 0,0 1,5 225,7 205,9
0,0 0,0 0,0 0,0 0,0 0,0 0,0 464,3 7,3
5,3 0,0 0,0 0,0 0,0 0,0 5,3 43,7 0,3
221,3 106,9 215,8 149,2 0,0 -62,4 415,0 2.979,5 2.400,2
231,2 106,9 215,8 156,5 0,0 -62,6 432,0 3.005,4 2.421,4
Accumulated amortization, depreciation and write-downs Net book value
Appendix II
List of Shareholdings persuant to Section 313 of the German Commercial Code (HGB)
Name and registered office of the affiliated company
Share of Capital 2019
(%)
Functional
Currency
Amount of
equity in EUR
million
Net income (loss)
for the year in EUR
million
Germany:
Brillant 1421. GmbH, Berlin 100,00 EUR 7,68 0,07
Delivery Hero (Hong Kong) UG (haftungsbeschränkt) & Co. KG (ehem. Jade 1343 GmbH & Co. 15. Verwaltungs KG), Berlin 100,00 EUR -6,78 -0,42
Delivery Hero (India) UG (haftungsbeschränkt) & Co. KG (ehem. Jade 1343 GmbH & Co. Siebte Verwaltungs KG), Berlin 100,00 EUR -9,68 -0,98
Delivery Hero (Pakistan) UG (haftungsbeschränkt) & Co. KG (ehem. Jade 1343 GmbH & Co. Neunte Verwaltungs KG), Berlin 100,00 EUR 2,68 0,08
Delivery Hero (Philippines) UG (haftungsbeschränkt) & Co. KG (ehem.Jade 1343 GmbH & Co. 13. Verwaltungs KG), Berlin 100,00 EUR 3,78 0,10
Delivery Hero Austria GmbH, Berlin 100,00 EUR 0,54 0,03
Delivery Hero Kitchens Holding GmbH, Berlin 100,00 EUR 0,03 0,00
Delivery Hero Local Verwaltungs GmbH, Berlin 100,00 EUR 0,02 0,00
Delivery Hero Stores Holding GmbH (ehem. Foodora Services Germany GmbH), Berlin 100,00 EUR 0,53 -0,02
DH Financial Services Holding GmbH (ehem. Delivery Hero Payments GmbH), Berlin 100,00 EUR 0,12 -0,02
Foodpanda GmbH, Berlin 100,00 EUR 132,67 -0,76
Foodpanda GP UG (haftungsbeschränkt), Berlin 100,00 EUR 0,02 0,00
Jade 1343 GmbH & Co. Vierte Verwaltungs KG, Berlin 100,00 EUR 2,22 0,08
Juwel 220. VV UG (haftungsbeschränkt), Berlin 100,00 EUR 0,56 0,00
RGP Trust GmbH, Berlin 100,00 EUR 0,00 0,00
Sweetheart Kitchen Operations GmbH, Berlin 60,00 EUR -4,99 -5,32
Valk Fleet Deutschland GmbH (ehem. Rushy Logistik), Berlin 100,00 EUR -0,78 -0,04
Valk Fleet Holding GmbH & Co. KG, Berlin 100,00 EUR -9,66 -0,36
Valk Fleet Verwaltungs GmbH, Berlin 100,00 EUR 0,02 0,00
International:
Appetito Veinticuatro Ltda., San Jose (CR) 100,00 CRC -0,16 0,01
Aravo S.A., Montevideo (UY) 100,00 UYU 17,08 -39,79
Baedaltong Co. LLC (ehem. Baedaltong Co. Ltd.), Seoul (KR) 100,00 KRW -14,76 1,09
Carriage Delivery Services LLC, Abu Dhabi (UAE) 100,00 AED -4,68 -0,80
Carriage Holding Company Ltd., Abu Dhabi (UAE) 100,00 AED 85,06 131,74
Carriage KSA LLC, (ehem. Establishment of Abdullah Al Mutawa), Kuwait (KW) 100,00 SAR -24,30 -15,43
Carriage Logistics SPC, Manama (BH) 100,00 BHD -9,44 -5,22
Carriage Trading & Services Co. WLL, Doha (QA) 100,00 QAR 9,95 6,28
ClickDelivery S.A.C, Lima (PE) 100,00 PEN -3,44 -1,69
ClickDelivery S.A.S., Bogota (CO) 100,00 COP 0,00 0,00
Cloud Treats Romania SA, Cluj-Napoca (ROU) 100,00 RON -1,14 -0,74
Damejidlo cz. s.r.o. (ehem. Pizzatime s.r.o.), Prag (CZ) 100,00 CZK -8,57 -2,08
Dámejídlo.cz. Logistiks s.r.o. (ehem. Valk Fleet s.r.o.), Prag (CZ) 100,00 CZK -1,99 -1,09
Dark Stores MENA Holding Ltd., Abu Dhabi (UAE) 100,00 AED 0,00 0,00
Delivery Hero (Cyprus) Ltd. (ehem. AA Foody Cyprus Ltd.), Nikosia (CYP) 100,00 EUR 0,99 0,34
Delivery Hero (Singapore) Pte. Ltd. (ehem. Foodpanda Singapore Pte. Ltd.), Singapur (SGP) 100,00 SGD -88,42 -55,02
Delivery Hero (WanTea Singapore) Pte Ltd., Singapur (SGP) 100,00 SGD -0,03 -0,03
Delivery Hero APAC PTE. Ltd., Singapur (SGP) 100,00 SGD -0,95 -0,95
Delivery Hero Bulgaria EOOD (ehem. Foodpanda Bulgaria EOOD), Sofia (BRG) 100,00 BGN -11,38 -6,56
Delivery Hero Cambodia Co. Ltd. , Phnom Penh (KHM) 100,00 USD 1,97 -0,11
Delivery Hero Carriage DB LLC (ehem. Carriage Food Delivery Services LLC), Dubai (UAE) 100,00 AED -7,73 -4,23
Delivery Hero Carriage Egypt LLC, Kairo (EGY) 100,00 EGP -2,22 -2,09
Delivery Hero Carriage Kuwait for Delivery of Consumables LLC (ehem. Carriage Logistics General Trading Company LLC), Kuwait (KW) 100,00 KWD16,49 -0,93
Delivery Hero Finland Oy (ehem. SLM Finland Oy), Helsinki (FI) 100,00 EUR -0,01 -0,01
Delivery Hero FZ-LLC, Dubai (UAE) 100,00 AED -3,38 0,00
Delivery Hero Hungary Kft (ehem. Viala Kf), Budapest (HU) 100,00 HUF 0,79 -2,00
Delivery Hero India Holding S.a.r.L. , Luxembourg (LU) 100,00 EUR -0,02 -0,02
Delivery Hero Korea LLC (ehem. RGP Korea Ltd.), Seoul (KR) 100,00 KRW 44,95 -43,91
Delivery Hero Lao Sole Co. Ltd. , Lao (LA) 100,00 LAK -0,41 -0,41
Delivery Hero Lebanon Sarl, Beirut (LBN) 100,00 LBP 0,00 0,00
Delivery Hero Myanmar Co. Ltd., Yangon (MMR) 100,00 MMK 1,39 -0,17
Delivery Hero Stores (Singapore) Pte. Ltd., Singapur (SGP) 100,00 SGD 0,08 -0,12
Delivery Hero Stores APAC Holding PTE. LTD., Sinagur (SGP) 100,00 SGD 0,52 0,00
Delivery Hero Stores DB LLC, Dubai (UAE) 100,00 AED 0,07 0,00
Delivery Hero Sweden AB (ehem. Online Pizza Norden AB), Stockholm (SE) 100,00 SEK 19,39 4,05
Delivery Hero Talabat DB LLC (ehem. Talabat Services Company L.L.C.), Dubai (UAE) 100,00 BHD 9,67 4,05
Delivery Hero Thailand Co. Ltd. (ehem. Foodpanda Co. Ltd.), Bangkok (THA) 100,00 THB -47,21 -36,73
DH SSC Malaysia Sdn. Bhd, Kuala Lumpur (MYS) 100,00 MYR 0,11 0,00
DH Stores (Taiwan) Co. Ltd., Daan Dist Taipei (TWN) 100,00 TWD 0,18 -0,11
DHE Logistics Malaysia Sdn. Bhd, Kuala Lumpur (MYS) 80,00 MYR -0,98 -0,98
DHH I SPC (DIFC) Ltd., Dubai (UAE) 100,00 AED -0,04 -0,03
DHH II SPC (DIFC) Ltd., Dubai (UAE) 100,00 AED 0,00 0,00
Donesi d.o.o., Banja Luka (BIH) 100,00 BAM -0,04 -0,03
Donesi d.o.o., Podgorica (MNE) 100,00 EUR 0,02 0,02
Eatoye (PVT) Limited, Karachi (PK) 100,00 PKR -1,24 -0,13
Ecommerce Business 10 S.à. r.l., Luxemburg (LU) 100,00 EUR -7,68 -1,99
Emerging Markets Online Food Delivery Holding S.à.r.l., Luxemburg (LU) 100,00 EUR 345,26 -0,33
Fly&Company LLC (ehem. Fly & Company Inc.), Seoul (KR) 100,00 KRW -13,35 -10,44
Food Basket Elektronik İletişim Gıda Ticaret Ltd. Şti, Nikosia (CYP) 100,00 TRY 0,42 0,38
Food Delivery Holding 12. S.à r.l., Luxemburg (LU) 100,00 EUR -6,37 -5,76
Food Delivery Holding 15. S.à.r.l., Luxemburg (LU) 100,00 EUR 0,02 29,64
Food Delivery Holding 20. S.à r.l., Luxemburg (LU) 100,00 EUR 0,00 -0,01
Food Delivery Holding 21. S.à r.l., Luxemburg (LU) 100,00 EUR 0,00 -0,01
Food Delivery Holding 5. S.à r.l., Luxemburg (LU) 100,00 EUR 6,18 -0,01
Food Panda Philippines Inc., Makati (PHL) 100,00 PHP -30,87 -19,82
Foodonclick.com / Jordan Private Shareholding Company, Amman (JR) 100,00 JOD -3,30 -2,66
Foodonclick-com FZ-LLC, Dubai (UAE) 100,00 AED 1,45 0,01
Foodora AB, Stockholm (SE) 100,00 SEK 1,16 -3,19
Foodora Finland Oy (ehem. R-SC Internet Services Finland OY) Helsinki, (FI) 100,00 EUR -5,29 -1,28
Foodora France SAS, Paris (FRA) 100,00 EUR -27,17 0,00
Foodora Inc. (Canada), Toronto (CAN) 100,00 CAD -25,26 -10,51
Foodora Norway AS, Oslo (NOR) 100,00 NOK -1,05 -5,50
Foodpanda (B) SDN BHD, Bandar Seri Begawan (BRN) 100,00 BND -0,64 0,01
Foodpanda Bangladesh Ltd., Dhaka (BGD) 100,00 BDT -8,29 -6,73
Foodpanda Malaysia Sdn. Bhd., Kuala Lumpur (MYS) 100,00 MYR -40,51 -30,73
Foodpanda RO SRL, Bucharest (RO) 100,00 RON -16,72 -10,52
Foodpanda Taiwan Co. Ltd., Daan Dist Taipei (TWN) 100,00 TWD -67,19 -50,40
Appendix II
List of Shareholdings persuant to Section 313 of the German Commercial Code (HGB)
Name and registered office of the affiliated company
Share of Capital 2019
(%)
Functional
Currency
Amount of
equity in EUR
million
Net income (loss)
for the year in EUR
million
Go Delivery SA, Attica (GR) 100,00 EUR 0,31 0,01
Hungerstation LLC, Dammam (KSA) 63,00 SAR -5,09 8,65
Hungerstation SPC Ltd., Dubai (UAE) 63,00 AED -0,37 -0,81
Hungry Delivery AB, Lund (SWE) 100,00 SEK 0,10 -0,24
Inversiones CMR S.A.S, Bogota (CO) 100,00 COP -21,57 -23,81
Inversiones Delivery Hero CMR S.A. (ehem. Hellofood Hallo Essen Hollesen S.A.), Quito (EC) 100,00 USD 0,29 -3,42
Lokanta Net Elektronik İletişim Gıda Ticaret A.Ş., Istanbul (TR) 100,00 TRY 0,01 0,00
Maidan Limited, Hong Kong (HK) 100,00 HKD -1,30 -0,04
Mjam GmbH, Wien (AT) 100,00 EUR 9,69 -0,86
Mobile Venture Latin America Inc., Panama (PA) 100,00 USD -5,59 -4,33
Motwer S.A., Montevideo (URY) 100,00 UYU 0,03 -0,15
Movil Media S.R.L.,Santo Domingo (DOM) 100,00 DOP -1,41 -1,25
OFD Online Food Delivery Services Ltd., Nicosia (CYP) 100,00 EUR 4,01 3,93
Online Delivery Promotion of Internet Services Société Anonyme, Attica (GR) 100,00 EUR 19,70 11,14
Otlob for Restaurants Reservations Services S.A.E, Kairo (EGY) 100,00 EGP -20,34 -10,19
OZON MEDIA d.o.o., Zagreb (HR) 100,00 HRK -1,13 -1,28
Pagos Ya S.A., Buenos Aires (AR) 100,00 ARS 0,64 -0,08
Pedidos Ya Paraguay S.A., Asunción (PY) 100,00 PYG -0,85 -0,68
PedidosYa S.A. (ehem. Kinboy S.A.), Montevideo (UY) 100,00 USD -78,96 -60,28
PedidosYa S.A., Buenos Aires (AR) 100,00 ARS 20,46 -17,29
PedidosYa Servicios S.A. , Santa Cruz de la Sierra (BOL) 100,00 BOB -4,73 -3,97
PedidosYa SPA, Santiago (CL) 100,00 CLP -44,66 -41,33
Plotun d.o.o., Belgrad (SRB) 100,00 RSD 0,78 0,07
Ranila Online Services Limited, New Delhi (IND) 100,00 INR 0,06 -0,07
Repartos Ya S.A, Buenos Aires (AR) 100,00 ARS 0,61 -1,35
Repartos Ya S.A, Montevideo, (UY) 100,00 UYU -1,32 -1,33
RestaurangOnline Sverige AB, Lund (SWE) 100,00 SEK 0,66 -1,39
Rocket Food Limited, Sheung Wan (HK) 100,00 HKD -56,32 -36,20
R-SC Internet Services Pakistan (PVT) Limited, Karachi (PK) 100,00 PKR -29,01 -20,95
Stores Services Kuwait S.P.C., Kuwait (KW) 100,00 KWD 1,90 -0,87
Sweetheart Kitchen Holding (DIFC), Dubai (UAE) 60,00 AED -0,62 -0,62
Sweetheart Kitchen Kuwait Company, Kuwait (KW) 60,00 KWD -0,22 -0,23
Sweetheart Kitchen LLC , Dubai (UAE) 60,00 AED 1,30 1,28
Sweetheart Kitchen Operations Singapore PTE Ltd., Singapur (SGP) 60,00 SGD 0,00 0,00
Sweetheart Kitchen Saudi Arabia Limited, Kuwait (KW) 100,00 SAR -0,10 -0,10
Talabat Electronic and Delivery Services LLC. (ehem. Talabat Electronic Services Company L.L.C.), Al Khuwair (OM) 100,00 OMR -7,28 -3,34
Talabat General Trading & Contracting Company W.L.L, Sharq (KW) 100,00 KWD 86,76 32,52
Talabat Logistics & Online Management LLC, Amman, (JR) 100,00 JOD 0,04 0,07
Talabat Ltd., Kuwait (KW) 100,00 KWD 1,45 0,00
Talabat Middle East Internet Services Company L.L.C, Dubai (UAE) 100,00 AED -3,04 -7,58
Talabat QFC LLC, Doha (QA) 100,00 QAR 6,93 6,98
Talabat Restaurants Company L.L.C. Riyadh (KSA) 100,00 SAR -8,51 0,42
Talabat Services Company L.L.C. Doha (QA) 100,00 QAR 1,82 -0,13
Volo Netherlands B.V., Amsterdam (NL) 100,00 EUR -2,45 -0,85
Yemek Sepeti (Dubai) B.V., Amsterdam (NL) 100,00 EUR 147,94 -138,96
Yemek Sepeti Elektronik İletişim Tanıtım Pazarlama Gıda Sanayi ve Ticaret A.Ş., Istanbul 100,00 TRY 32,66 22,13
Yogiyo Media Company Ltd., Seoul (KR) 100,00 KRW 0,00 0,00
non-consolidated companies (at equity):
Hungry Holding ApS, Lystrup (DK) 24,50 DKK 0,40 1,32
Rappi Inc., San Francisco (USA) 13,97 USD -413,07 453,55
GlovoApp23 S.L., Madrid (ES) 12,70 EUR -136,72 -177,87
BIO-LUTIONS International AG (DE) 20,16 EUR 8,63 1,61
Nosh - TZCJ Co. Ltd. (HK) 21,80 HKD -1,20 -0,06
Reproduction of the independent auditor's report
Based on the results of our audit, we have issued the following unqualified audit opinion:
Independent Auditor's Report
To Delivery Hero SE, Berlin
Report on the Audit of the Annual Financial Statements and of the Combined
Management Report
Opinion
We have audited the annual financial statements of Delivery Hero SE, Berlin, which comprise the balance sheet
as of December 31, 2019, and the income statement for the financial year from January 1 to
December 31, 2019, and notes to the financial statements, including the recognition and measurement
policies presented therein. In addition, we have audited the combined management report of Delivery
Hero SE, Berlin, for the financial year from January 1 to December 31, 2019. In accordance with German legal
requirements, we have not audited the content of the components of the combined management report
mentioned in the section "Other information" of our audit opinion.
In our opinion, on the basis of the knowledge obtained in the audit,
– the accompanying annual financial statements comply, in all material respects, with the requirements of
German commercial law applicable to corporations and give a true and fair view of the assets, liabilities and
financial position of the Company as of December 31, 2019, and of its financial performance for the
financial year from January 1 to December 31, 2019, in accordance with German legally required
accounting principles, and
– the accompanying combined management report as a whole provides an appropriate view of the
Company's position. In all material respects, this combined management report is consistent with the
annual financial statements, complies with German legal requirements and appropriately presents the
opportunities and risks of future development.
Our opinion on the combined management report do not cover the section “Other infor-mation”.
Pursuant to Section 322 (3) sentence 1 HGB [Handelsgesetzbuch: German Commercial Code], we declare that
our audit has not led to any reservations relating to the legal compliance of the annual financial statements
and of the combined management report.
Basis for the Opinion
We conducted our audit of the annual financial statements and of the combined management report in
accordance with Section 317 HGB and EU Audit Regulation No. 537/2014 (referred to subsequently as "EU
Audit Regulation") and in compliance with German Generally Accepted Standards for Financial Statement
Audits promulgated by the Institut der Wirtschaftsprüfer [Institute of Public Auditors in Germany] (IDW). Our
responsibilities under those requirements and principles are further described in the "Auditor's
Responsibilities for the Audit of the Annual Financial Statements and of the Combined Management Report"
section of our auditor's report. We are independent of the Company in accordance with the requirements of
European law and German commercial and professional law, and we have fulfilled our other German
professional responsibilities in accordance with these requirements. In addition, in accordance with
Article 10 (2)(f) of the EU Audit Regulation, we declare that we have not provided non-audit services
prohibited under Article 5 (1) of the EU Audit Regulation. We believe that the evidence we have obtained is
sufficient and appropriate to provide a basis for our opinions on the annual financial statements and on the
combined management report.
Key Audit Matters in the Audit of the Annual Financial Statements
Key audit matters are those matters that, in our professional judgment, were of most significance in our audit
of the annual financial statements for the financial year from January 1 to December 31, 2019. These matters
were addressed in the context of our audit of the annual financial statements as a whole, and in forming our
opinion thereon, we do not provide a separate opinion on these matters.
Impairment of shares in and loans made to affiliated companies
For information on the accounting policies applied, please see item II.2 in the notes to the financial
statements.
THE FINANCIAL STATEMENT RISK
In the annual financial statements of Delivery Hero SE as of December 31, 2019, financial assets included
shares in affiliated companies of EUR 1,479 million and loans to affiliated companies of EUR 767 million. This
amounts to 65 % of total assets and thus has a material influence on the Company's assets and liabilities.
Shares in and loans to affiliated companies are recognized at cost or nominal value or, if they are expected to
be permanently impaired, at their lower fair value. The Company calculates the fair value of the shares in
affiliated companies using the discounted cash flow method. The discounted cash flow method is also used for
loans in accordance with the remaining term. If the fair value is lower than the carrying amount, qualitative
and quantitative criteria are used to determine whether the impairment is considered to be permanent.
There is a risk for the financial statements that shares in and loans to affiliated companies are impaired.
Calculation of the fair value according to the discounted cash flow method is complex and, as regards the
assumptions made, based largely on estimates and assessments of the Company. This applies particularly to
estimates of future cash flows and long-term growth rates used for valuation, determination of the
capitalization rate and, where applicable, the assessment of whether impairment is permanent.
Based on the results of the impairment testing, the Company recognized impairment losses of
EUR 147.7 million on shares in and loans to affiliated companies in financial year 2019.
OUR AUDIT APPROACH
For the purposes of impairment testing of shares in and loans to affiliated companies, we calculated our own
estimates for the Company's individual investments with the involvement of our valuation experts and based
on general as well as sector-specific market expectations and compared these estimates with the Company's
measurements.
In the event of significant deviations between our estimates and the Company's measurements, we assessed
the appropriateness of the Company's key assumptions. For this purpose, we discussed with those responsible
for planning the expected business and earnings development and the assumed long-term growth rates as well
as the modeling of the estimated sustainable surplus cash flow. We also reconciled this information with the
budget prepared by the Management Board at the group level and approved by the Supervisory Board. We
also assessed the calculation method used by the Company.
We evaluated the accuracy of the previous forecasts by comparing the budgets of previous financial years with
actual results and by analyzing deviations.
We compared the assumptions and parameters underlying the discount rate, in particular the risk-free rate,
the market risk premium and the beta factor, with our own assumptions and publicly available data.
To ensure the computational accuracy of the valuation model used, we verified the Company's calculations on
the basis of selected risk-based elements.
OUR OBSERVATIONS
The approach used for impairment testing of shares in and loans to affiliated companies is appropriate and in
line with the accounting policies. The Company's assumptions and parameters are reasonable overall.
Other Information
Management is responsible for the other information. The other information comprises:
– the non-financial statement and the corporate governance statement,
– the corporate governance report and
– the remaining parts of the annual report, with the exception of the audited annual financial statements,
the combined management report information audited for content and our auditor's report.
Our opinion on the annual financial statements and on the combined management report do not cover the
other information, and consequently we do not express an opinion or any other form of assurance conclusion
thereon.
In connection with our audit, our responsibility is to read the other information and, in so doing, to consider
whether the other information
– is materially inconsistent with the annual financial statements, with the management report information
audited for content or our knowledge obtained in the audit, or
– otherwise appears to be materially misstated.
Responsibilities of Management and the Supervisory Board for the Annual Financial Statements and the
Combined Management Report
Management is responsible for the preparation of annual financial statements that comply, in all material
respects, with the requirements of German commercial law applicable to business corporations, and that the
annual financial statements give a true and fair view of the assets, liabilities, financial position and financial
performance of the Company in compliance with German legally required accounting principles. In addition,
management is responsible for such internal control as they, in accordance with German legally required
accounting principles, have determined necessary to enable the preparation of annual financial statements
that are free from material misstatement, whether due to fraud or error.
In preparing the annual financial statements, management is responsible for assessing the Company's ability to
continue as a going concern. They also have the responsibility for disclosing, as applicable, matters related to
going concern. In addition, they are responsible for financial reporting based on the going concern basis of
accounting, provided no actual or legal circumstances conflict therewith.
Furthermore, management is responsible for the preparation of the combined management report that as a
whole provides an appropriate view of the Company's position and is, in all material respects, consistent with
the annual financial statements, complies with German legal requirements, and appropriately presents the
opportunities and risks of future development. In addition, management is responsible for such arrangements
and measures (systems) as they have considered necessary to enable the preparation of a combined
management report that is in accordance with the applicable German legal requirements, and to be able to
provide sufficient appropriate evidence for the assertions in the combined management report.
The Supervisory Board is responsible for overseeing the Company's financial reporting process for the
preparation of the annual financial statements and of the combined management report.
Auditor's Responsibilities for the Audit of the Annual Financial Statements and of the Combined
Management Report
Our objectives are to obtain reasonable assurance about whether the annual financial statements as a whole
are free from material misstatement, whether due to fraud or error, and whether the combined management
report as a whole provides an appropriate view of the Company's position and, in all material respects, is
consistent with the annual financial statements and the knowledge obtained in the audit, complies with the
German legal requirements and appropriately presents the opportunities and risks of future development, as
well as to issue an auditor's report that includes our opinion on the annual financial statements and on the
combined management report.
Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance with Section 317 HGB and the EU Audit Regulation and in compliance with German Generally
Accepted Standards for Financial Statement Audits promulgated by the Institut der Wirtschaftsprüfer (IDW)
will always detect a material misstatement. Misstatements can arise from fraud or error and are considered
material if, individually or in the aggregate, they could reasonably be expected to influence the economic
decisions of users taken on the basis of these annual financial statements and this combined management
report.
We exercise professional judgment and maintain professional skepticism throughout the audit. We also:
– Identify and assess the risks of material misstatement of the annual financial statements and of the
combined management report, whether due to fraud or error, design and perform audit procedures
responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for
our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one
resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations or
the override of internal controls.
– Obtain an understanding of internal control relevant to the audit of the annual financial statements and of
arrangements and measures (systems) relevant to the audit of the combined management report in order
to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing
an opinion on the effectiveness of these systems.
– Evaluate the appropriateness of accounting policies used by management and the reasonableness of
estimates made by management and related disclosures.
– Conclude on the appropriateness of management's use of the going concern basis of accounting and, based
on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that
may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a
material uncertainty exists, we are required to draw attention in the auditor's report to the related
disclosures in the annual financial statements and in the combined management report or, if such
disclosures are inadequate, to modify our respective opinions. Our conclusions are based on the audit
evidence obtained up to the date of our auditor's report. However, future events or conditions may cause
the Company to cease to be able to continue as a going concern.
– Evaluate the overall presentation, structure and content of the annual financial statements, including the
disclosures, and whether the annual financial statements present the underlying transactions and events in
a manner that the annual financial statements give a true and fair view of the assets, liabilities, financial
position and financial performance of the Company in compliance with German legally required accounting
principles.
– Evaluate the consistency of the combined management report with the annual financial statements, its
conformity with [German] law, and the view of the Company's position it provides.
– Perform audit procedures on the prospective information presented by management in the combined
management report. On the basis of sufficient appropriate audit evidence we evaluate, in particular, the
significant assumptions used by management as a basis for the prospective information, and evaluate the
proper derivation of the prospective information from these assumptions. We do not express a separate
opinion on the prospective information and on the assumptions used as a basis. There is a substantial
unavoidable risk that future events will differ materially from the prospective information.
We communicate with those charged with governance regarding, among other matters, the planned scope
and timing of the audit and significant audit findings, including any significant deficiencies in internal control
that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with the relevant
independence requirements, and communicate with them all relationships and other matters that may
reasonably be thought to bear on our independence, and where applicable, the related safeguards.
From the matters communicated with those charged with governance, we determine those matters that were
of most significance in the audit of the annual financial statements of the current period and are therefore the
key audit matters. We describe these matters in our auditor's report unless law or regulation precludes public
disclosure about the matter.
Other Legal and Regulatory Requirements
Further Information pursuant to Article 10 of the EU Audit Regulation
We were elected as group auditor at the annual general meeting on June 12, 2019. We were engaged by the
Supervisory Board on November 18, 2019. We have been the group auditor of Delivery Hero SE without
interruption since financial year 2017.
We declare that the opinions expressed in this auditor's report are consistent with the additional report to the
Audit Committee pursuant to Article 11 of the EU Audit Regulation (long-form audit report).
German Public Auditor Responsible for the Engagement
The German Public Auditor responsible for the engagement is Björn Knorr.
Berlin, April 22, 2020
KPMG AG
Wirtschaftsprüfungsgesellschaft
[Original German version signed by:]
[signature] Knorr
Wirtschaftsprüfer
[German Public Auditor]
[signature] Heidgen
Wirtschaftsprüfer
[German Public Auditor]
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