Deliveroo hails “positive” first half
Deliveroo has said its full year adjusted EBITDA is expected to be in the upper half of the previously guided range of £170 million to £190 million as it announced its first half results.
The company said its gross transaction value increased by 9% to £3.8 billion in the six months to 30 June while revenue grew by 8% to £1.05 billion.
Deliveroo stated that orders rose by 8% to 147 million driven by further execution of growth initiatives and a more resilient than expected consumer.
Meanwhile, adjusted EBIDTA climbed by 46% to £96.3 million in the period.
Subscribe to TRBHowever, the company posted a loss of £19.2 million compared to a profit of £1.3 million a year earlier, which Deliveroo attributed to higher exceptional items relating to costs associated with its takeover by US rival DoorDash,
Giving an update on progress on the deal, the company said regulatory approval processes are well underway and that the transaction is expected to complete in the fourth quarter of 2025.
Will Shu, founder and chief executive of Deliveroo, said: “The first half of this year was very positive. Our long term focus on improving the CVP is paying off. Consumer engagement is encouraging, with order frequency and retention continuing to improve across all cohorts.
“Today, both growth and profitability are accelerating. We are delivering on our mission to change the way people shop and eat and to bring the neighbourhood to people’s doors. I’m proud of where we are and all that we have achieved. We helped to build an entire sector and have redefined it multiple times over.
“I’m excited for what the partnership with DoorDash can bring in the future. They will be an excellent partner for everyone at the company, as well as for our consumers, merchant partners and riders.”
