Although Deliveroo reported stagnant sales, it is outperforming rival Just Eat Takeaway.com. Even better: the value of orders increased and profits are “slightly” better than expected.
Difficult quarter
Deliveroo saw orders increase very slightly in the last quarter of 2023, from 75.1 million to 75.3 million. Revenue stagnated at 523 million pounds (610 million euros), while gross transaction value (GTV) rose 4 % to 1.86 billion pounds (2.1 billion euros), helped by increased prices.
For the full year, Deliveroo is now counting on a profit between 60 and 80 million pounds, slightly more than originally expected. GTV would have grown by 3 % by 2023, in line with its target of between 1 and 5 %. The meal delivery company will publish full-year figures on 14 March.
Competitor Just Eat Takeaway.com is also facing more frugal consumers: it only managed growth in Northern Europe and on the British Isles in the fourth quarter. Over the year as a whole, its GTV fell by 4 % and the number of orders even fell by 9 %.
