Deliveroo Turns To Profit In FY24, GTV Rises; Sees Growth In FY25, Medium Term

(RTTNews) - Deliveroo plc (DROOF), a delivery service provider, Thursday reported that its fiscal 2024 profit was 2.9 million pounds, compared to prior year's loss of 31.8 million pounds.

Adjusted EBITDA, a key earnings metric, climbed 52 percent to 129.6 million pounds from 85.4 million pounds a year ago. Adjusted EBITDA margin increased to 1.7 percent from last year's 1.2 percent.

Revenue grew 2 percent to 2.07 billion pounds from prior year's 2.03 billion pounds. At constant currency rates, revenues increased 3 percent.

Gross transaction value or GTV increased 5 percent to 7.43 billion pounds from 7.06 billion pounds a year ago. The growth was 6 percent at constant currency rates.

Orders were up 2 percent to 296.0 million from last year's 290.2 million. GTV per order was 25.1 pounds, up 3 percent from last year.

Looking ahead, for fiscal 2025, the company projects adjusted EBITDA in the range of 170 million pounds to 190 million pounds, and GTV growth is anticipated to be in high-single digits percentage in constant currency.

For the medium term, the company now projects adjusted EBITDA margin target of 4 percent+, with margin improvement accelerating from 2026. The outlook has been revised.

The company continues to project GTV growth in mid-teens percentage per annum in constant currency.

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