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Profitability may be coming into sight earlier than expected for Deliveroo: in a strong second half of the year, the British delivery service reached break-even in all regions.
Market share gain
Are better financial times ahead for meal delivery services? After Just Eat Takeaway proved to be on the right track earlier this week, with better-than-expected profit figures despite a declining number of orders, Deliveroo was also able to release encouraging figures.
The British delivery service saw transaction volume increase by 7 % last year, while its market share rose in the key British, French and Italian markets. The company says it owes these good results to a relentless focus on hyperlocal consumers. As a result, it broke even in the second half of the year in all regions where it operates – even in markets where the delivery service recently left, such as the Netherlands and Australia.
Full-year EBITDA would reach – 1 %, better than the previously estimated – 1.2 % to – 1.5 %. Adjusted EBITDA will also continue to improve in 2023, Deliveroo says. Management will provide more information on 16 March, when it releases its full-year operating results.
