Deliveroo delivers FY profit for the first time
During the year, Deliveroo improved its Plus Gold and Silver tiers, as well as launched Plus Diamond towards its aim to be a ‘plus-first’ business by 2026
Deliveroo has reported hitting a profit of £3m for the year to December 2024, following a loss of £32m in the year prior.
It comes as the restaurant and groceries delivery platform had “a good year of growth”, in which its gross transaction value jumped 6% and revenues rose by 3% in constant currency. This was attributed to orders rising by 2% during the year.
The group also saw strong growth in adjusted EBITDA, which leapt 52% to £130m in the year, and as a result, expects it to be at the top end of guidance between £170m and £190m.
During the year, Deliveroo improved its Plus Gold and Silver tiers, as well as launched Plus Diamond towards its aim to be a “plus-first” business by 2026.
Meanwhile, the grocery offering reached 16% of group gross transaction value in the second half with strong double-digit growth and further contribution from mid-sized baskets ranging from £30 to £60.
Will Shu, founder and CEO of Deliveroo, said: “Over the past year, we have been relentlessly focused on making the Deliveroo experience even better. The robust results we’ve announced today, with our first full year profit and positive free cash flow as well as GTV growth across our verticals, demonstrate that our strategy is working.
“Whilst the consumer environment remains uncertain, I am confident that we can continue to deliver growth by focusing on the levers in our control: supporting our restaurant partners to meet untapped consumer demand around new occasions, expanding our grocery and retail offering, and continuously improving our CVP. I want to thank the team for all their hard work and expertise in 2024 which will help us to capture the many opportunities ahead of us.”
