REG - Deliveroo PLC - Q1 2025 Trading Update

DeliverooAnnouncement

17/04/2025 07:00

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RNS Number : 3646F  Deliveroo PLC  17 April 2025

17 April 2025
Q1 2025 Trading Update
Deliveroo plc
Strong Q1 performance with acceleration in order growth

●    Strong performance with growth in GTV and orders(1)

○    Gross transaction value (GTV) up 9% year-on-year (YoY)(2) in
constant currency (up 9% in Q4 2024)

○    Continued improvement in order growth, up 7% (up 6% in Q4 2024),
with GTV per order up 2%

●    Acceleration in order growth across both UKI and International

○    In UKI, GTV growth was 9% YoY in constant currency (9% in Q4 2024).
Order growth accelerated to 7% (5% in Q4 2024) with both GTV and orders
growing ahead of the market

○    In International, GTV growth was 9% YoY in constant currency (10% in
Q4 2024). Orders were up 7% (6% in Q4 2024), with ongoing strength in UAE and
Italy offset partially by continued softness in France

●    Group revenue growth of 8% in constant currency

○    Revenue take rate (% of GTV) was flat sequentially, while decreasing
40 bps YoY as expected to 27.7% principally due to our continued investments
in the consumer value proposition (CVP)

●    FY 2025 guidance maintained

○    GTV growth anticipated to be high single-digits percentage growth
(in constant currency)

○    Adjusted EBITDA expected to be in the range of £170-190 million, as
we make targeted investments to capture future growth opportunities

Will Shu, Founder and CEO of Deliveroo, said:

"I am really pleased with our strong start to the year, marked by a 9%
year-on-year increase in GTV and 7% growth in orders. This represents a
further acceleration from the fourth quarter. We made good strides in both UKI
and International and this improvement is a reflection of our relentless focus
on enhancing our customer value proposition (CVP). Our CVP investments to date
are proving successful, as demonstrated by the accelerating growth in order
volumes and our monthly active consumers. We continue to have confidence in
delivering our guidance for 2025 whilst, like many others, remaining mindful
of the uncertain macroeconomic environment."

                                                                      Change
 Continuing operations (excluding Hong Kong)        Q1     Q1         Reported   Constant

2025
2024
currency
currency

 Group
 GTV (£m)                                           1,871  1,727      8%         9%
 Orders (m)                                         72.6   67.8       7%         7%
 GTV per order (£)                                  25.8   25.5       1%         2%
 Revenue (£m)                                       518    485        7%         8%

 UK & Ireland (UKI)
 GTV (£m)                                           1,176  1,079      9%         9%
 Orders (m)                                         42.6   39.7       7%         7%
 GTV per order (£)                                  27.6   27.2       2%         2%
 Revenue (£m)                                       327    306        7%         7%

 International
 GTV (£m)                                           695    648        7%         9%
 Orders (m)                                         30.0   28.1       7%         7%
 GTV per order (£)                                  23.2   23.1       0%         2%
 Revenue (£m)                                       192    179        7%         9%

(( 1 )) Deliveroo ended its operations in Hong Kong on 7 April 2025. To
provide a better understanding of performance for the ongoing scope of
operations, analysis of the Company's results in this announcement is on a
'continuing operations' basis i.e. excluding results from Hong Kong for the
current period and comparative periods - unless otherwise stated.

(2)  Q1 2024 included 91 trading days due to the leap year, compared to 90 in Q1 2025.

Appendix:
Average monthly active consumers and monthly order frequency

 

 Continuing operations (excluding Hong Kong)  Q1     Q2     Q3     Q4     Q1     Q2     Q3     Q4 2024  Q1

2023

                                                     2023   2023   2023   2024   2024   2024            2025
 UK & Ireland (m)                             4.0    4.0    3.9    4.0    3.9    3.9    3.8    4.1      4.0
 International (m)                            2.7    2.7    2.6    2.8    2.8    2.8    2.7    2.9      3.0
 Average monthly active consumers (m)         6.7    6.6    6.4    6.8    6.7    6.7    6.5    7.0      7.0
 Year-on-year growth in MACs                  -      -      -      -      0%     1%     2%     3%       4%
 Average monthly order frequency              3.3    3.3    3.3    3.4    3.4    3.4    3.4    3.5      3.5

Monthly active consumers ('MACs') is the number of individual consumer
accounts that have placed an order on our platform in a given month; average
MACs for a quarter is the average of MACs for the three months of that
quarter.

Average order frequency (monthly) is the average number of orders placed by
active consumers in a month; AOF for a quarter is the average of AOF for the
three months of that quarter.

Analyst and investor call

Given the proximity of this announcement to the recently-reported FY 2024
results, Deliveroo will not hold a conference call on the trading update.
Please address any questions to the Investor Relations and Media Relations
teams using the contact information below.

 
Contact information
Investor Relations

Rohan Chitale and Tim Warrington - investors@deliveroo.co.uk
(mailto:investors@deliveroo.co.uk)

Media Relations

Joe Carberry, VP Policy & Communications - joe.carberry@deliveroo.co.uk
(mailto:joe.carberry@deliveroo.co.uk)

Michelle Lavipour, Head of Corporate Communications -
michelle.lavipour@deliveroo.co.uk (mailto:michelle.lavipour@deliveroo.co.uk)

Brunswick Group: Rosie Oddy and Jono Astle - deliveroo@brunswickgroup.com
(mailto:deliveroo@brunswickgroup.com)

 
About Deliveroo plc ('Deliveroo' or 'the Company')

Deliveroo is an award-winning delivery service founded in 2013 by William Shu
and Greg Orlowski. Deliveroo works with approximately 176,000 best-loved
restaurants, grocers and retail partners, as well as over 130,000 riders to
provide the best on-demand delivery experience in the world. Deliveroo is
headquartered in London, with offices around the globe. Deliveroo operates
across 9 markets, including Belgium, France, Italy, Ireland, Kuwait, Qatar,
Singapore, United Arab Emirates and the United Kingdom.

Further information regarding Deliveroo is available on the Company's website
at https://corporate.deliveroo.co.uk/ (https://corporate.deliveroo.co.uk/) .

Additional Notes

1. All figures in this trading update are unaudited.

2. All growth rates reflect a comparison to the three-month period ended 31
March 2024 unless otherwise stated.

3. References to "Q1" are to the three-month period ended 31 March 2025 and to
"Q4" are to the three-month period ended 31 December 2024 unless otherwise
stated. References to the "year", "financial year" or "2025 financial year"
are to the financial year ending 31 December 2025 and references to the "last
year", "last financial year" or "2024 financial year" are to the financial
year ended 31 December 2024 unless otherwise stated.

This announcement may include forward-looking statements, which are based on
current expectations and projections about future events. These statements may
include, without limitation, any statements preceded by, followed by or
including words such as "target", "believe", "expect", "aim", "intend", "may",
"anticipate", "estimate", "plan", "project", "will", "can have", "likely",
"should", "would", "could" and any other words and terms of similar meaning or
the negative thereof. These forward-looking statements are subject to risks,
uncertainties and assumptions about the Company and its subsidiaries and its
investments, including, among other things, the development of its business,
trends in its operating environment, and future capital expenditures and
acquisitions. The forward-looking statements in this announcement speak only
as at the date of this announcement. These statements reflect the beliefs of
the Directors, (including based on their expectations arising from pursuit of
the Group's strategy) as well as assumptions made by the Directors and
information currently available to the Company. Further, certain
forward-looking statements are based upon assumptions of future events which
may not prove to be accurate and none of the Company nor any member of the
Group, nor any of such person's affiliates or their respective directors,
officers, employees, agents and/or advisors, nor any other person(s) accepts
any responsibility for the accuracy or fairness of the opinions expressed in
this announcement or the underlying assumptions. Actual events or conditions
are unlikely to be consistent with, and may differ significantly from, those
assumed. In light of these risks, uncertainties and assumptions, the events in
the forward-looking statements may not occur. No representation or warranty is
made that any forward-looking statement will come to pass. No one undertakes
to update, supplement, amend or revise any forward-looking statements. You are
therefore cautioned not to place any undue reliance on forward-looking
statements.

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