Delivery Hero has not provided a timeline in which the fine might be imposed. Credit: nitpicker/Shutterstock.

German food delivery company Delivery Hero has issued a warning that it might incur a fine exceeding €400m ($433m) from the European Commission for antitrust violations.  

The company is under scrutiny for “alleged anti-competitive agreement to share national markets, exchanges of commercially sensitive information and no-poach agreements,” according to its statement. 

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In anticipation of the potential fine, Delivery Hero and its management board have decided to “significantly increase” a provision already set aside, which currently stands at €186m.  

The decision follows informal discussions with the European Commission and a subsequent detailed analysis. 

The company has expressed its intention to fully cooperate with the European Commission, as it has done during previous unannounced inspections in July 2022 and November 2023.  

Delivery Hero did not provide a timeline within which the fine might be imposed. 

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Bloomberg reports that this antitrust scrutiny arrives at a challenging time for the food delivery industry, which is already contending with fierce competition and slim profit margins.  

The European Commission declined to comment on the matter on 8 July 2024. 

Although the EU regulator has not yet published its findings on Delivery Hero, the company and its Spanish subsidiary Glovo have been subjected to raids on two occasions since 2022 as officials searched for evidence of illegal agreements.  

The commission has expressed concerns about potential violations of rules that “prohibit cartels and restrictive business practices”. 

Both Delivery Hero, which acquired a majority stake in Glovo in 2022, and Glovo confirmed the raids at the time.  

Delivery Hero’s shares plummeted by 18% on 8 July following the news, marking the most significant drop since 26 April.