Deliveroo, a leading food delivery service, has released its preliminary financial results for 2024, showing strong performance and growth. The company reported a 6% increase in Gross Transaction Value (GTV) and a 3% rise in revenue, with orders increasing by 2%. The adjusted EBITDA grew by 52%, and the company saw its first year of profit and free cash flow. The net cash position remains strong at £668 million. The companys strategy of enhancing its loyalty program and delivering value to consumers has been successful, as reflected in its net promoter score. Deliveroo expects high-single-digit GTV growth and adjusted EBITDA between £170-190 million in 2025. The medium-term outlook targets mid-teens GTV growth annually and an adjusted EBITDA margin of 4% or higher. The companys strong performance and positive outlook reflect its effective strategy and ability to navigate uncertain consumer environments.
| Metric | 2024 | 2023 | YoY Change (Reported) | YoY Change (Constant) |
|---|---|---|---|---|
| Orders | 296.0 million | 290.2 million | 2% | 2% |
| GTV per order | £25.1 | £24.3 | 3% | 4% |
| GTV | £7,433.5 million | £7,062.0 million | 5% | 6% |
| Revenue | £2,071.9 million | £2,030.0 million | 2% | 3% |
| Revenue take rate | 27.9% | 28.7% | (90) bps | N/A |
| Gross Profit | £766.9 million | £726.4 million | 6% | N/A |
| Gross Profit Margin | 10.3% | 10.3% | 0 bps | N/A |
| Adjusted EBITDA | £129.6 million | £85.4 million | 52% | N/A |
| Adjusted EBITDA Margin | 1.7% | 1.2% | 50 bps | N/A |
| Profit/ (loss) for the year | £2.9 million | £(31.8) million | N/A | N/A |
| Free Cash Flow | £85.5 million | £(38.4) million | N/A | N/A |
| Net Cash | £667.9 million | £678.8 million | (1)% | N/A |