Deliveroo PLC

Latest Results (21.12.2024):

GTV Growth

In the Q3 2024 trading update, Deliveroo PLC reported a 6% year-on-year increase in gross transaction value (GTV) in constant currency. This growth was driven by a 2% increase in orders and a 4% rise in GTV per order. The company highlighted progress in its consumer value proposition, including enhancements to its Plus loyalty program and an expanded selection in retail.

Regional Performance

Deliveroo PLC's Q3 2024 results showed healthy GTV growth in the UK and Ireland (UKI) at 7% year-on-year, with order growth improving to 2%. Internationally, GTV growth was 4% year-on-year in constant currency, despite temporary disruptions in France due to the Olympics. The UAE and Italy markets continued to perform strongly, while Hong Kong faced challenges due to a competitive environment.

Revenue and Take Rate

For Q3 2024, Deliveroo PLC reported a group revenue growth of 4% in constant currency. The revenue take rate, which is the percentage of GTV, decreased year-on-year but improved sequentially from Q2 2024. This improvement was attributed to seasonally lower promotional spending in European markets during the quarter.

Financial Guidance

Deliveroo PLC maintained its financial guidance for the full year 2024. The company anticipates GTV growth in constant currency to be in the range of 5-9%. Additionally, adjusted EBITDA is expected to be in the upper half of the £110-130 million range, with free cash flow projected to be positive for the year.

CEO's Statement

Will Shu, Founder and CEO of Deliveroo, expressed satisfaction with the Q3 2024 results, noting a solid quarter of growth with a 6% year-on-year increase in GTV. He highlighted the healthy growth in the UKI and the underlying growth in international markets, particularly in the UAE and Italy. Shu emphasized Deliveroo's strong market position and the significant growth potential in the on-demand delivery industry.