REG - Deliveroo PLC - Interim Financial Report 2025

DeliverooAnnouncement

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RNS Number : 3176U  Deliveroo PLC  07 August 2025

7 August 2025

Interim financial report 2025

Deliveroo plc
Strong H1 performance with acceleration in growth and continued progress on profitability

Deliveroo plc has today published its interim results for the period ended 30
June 2025. Full release is available at:
http://www.rns-pdf.londonstockexchange.com/rns/3176U_1-2025-8-6.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/3176U_1-2025-8-6.pdf)

Highlights(1)

●    Strong top-line performance with broad-based growth and an
acceleration during the period

○   Good growth across key metrics: GTV* and revenue up 9% in constant
currency* (9% and 8%, respectively, in reported currency), with orders up 8%,
driven by further execution on our growth initiatives and a more resilient
than expected consumer.

○   Strong performance in both segments with constant currency GTV growth
of 10% in UKI and 9% in International, where strength in UAE and Italy was
offset partially by continued softness in France.

○   Broad-based growth across verticals with a marked improvement in
restaurant growth, strong double-digit growth in grocery and further progress
in retail and advertising.

○   Acceleration in growth in Q2 with orders up 8% (Q1 2025: 7%), GTV up
10% (Q1 2025: 9%) in constant currency and revenue up 9% (Q1 2025: 8%) in
constant currency.

●    Encouraging consumer engagement metrics supported by consumer value
proposition (CVP) enhancements

○   Further CVP enhancements: continued to increase the value on offer to
our Plus subscribers through the launch of new partnerships and benefits,
improved selection with 4,000 merchant sites added, reduced critical order
defects to all-time lows and continued to promote value for money to
consumers.

○   Continued improvement in consumer engagement: group average order
frequency (AOF) increased across every annual cohort, with retention trends
also improving year-on-year, as CVP enhancements bear fruit.

●    Further momentum on profitability and free cash flow

○   Strong growth in adjusted EBITDA*, up 46% to £96 million (H1 2024:
£66 million); adjusted EBITDA margin (as a % of GTV)* increased to 2.5% (H1
2024: 1.9%) driven by marketing efficiencies and operating leverage.

○   Loss for the period of £(19.2) million, compared to a profit of £1.3
million in H1 2024, primarily due to higher exceptional items relating to
costs associated with the DoorDash, Inc. acquisition. Profit for the period
before any deal related charges (tax adjusted) was £31.8 million.

○   Free cash flow* of £46.3 million (H1 2024: £9.3 million), with the
year-on-year improvement primarily driven by the increase in adjusted EBITDA
and lower cash exceptional outflows, offset by a working capital outflow.

○   Net cash* of £624 million (H2 2024: £662 million); £90m of share
buybacks completed in H1 2025.

●    Acquisition by DoorDash, Inc. proceeding in-line with expected
timetable

○   Shareholder approval received on 16 June 2025.

○   Regulatory approval process ongoing; continue to expect transaction
completion in Q4 2025.

2025 outlook

●    GTV growth guidance narrowed to around the top end of the
previously-guided range of high single-digits percentage growth in constant
currency.

●    Adjusted EBITDA guidance narrowed to be in the upper half of the
previously-guided range of £170-190 million, reflecting strong H1 performance
and H2 weighting of previously-flagged investments to capture future growth
opportunities.

Medium-term outlook

●    GTV growth: targeting mid-teens percentage growth per annum (in
constant currency) in the medium term.

●    Profitability: adjusted EBITDA margin (as % of GTV) target of 4%+ in
the medium term, with margin improvement accelerating from 2026.

(1) In this section, all growth rates are year-on-year and in reported
currency unless otherwise stated, and all 2024 and 2025 Income Statement and
alternative performance measures ('APMs') exclude the underlying results from
Hong Kong, where operations ended on 10 March 2025 (this market is treated as
a discontinued operation).

* Alternative performance measure ('APM'), refer to glossary on page 41 for
further details.

 

Will Shu, Founder and CEO of Deliveroo, said:

"The first half of this year was very positive. Our long term focus on
improving the CVP is paying off. Consumer engagement is encouraging, with
order frequency and retention continuing to improve across all cohorts.

"Today, both growth and profitability are accelerating. We are delivering on
our mission to change the way people shop and eat and to bring the
neighbourhood to people's doors. I'm proud of where we are and all that we
have achieved. We helped to build an entire sector and have redefined it
multiple times over.

"I'm excited for what the partnership with DoorDash can bring in the future.
They will be an excellent partner for everyone at the company, as well as for
our consumers, merchant partners and riders."

Summary financial information(2)
 £ million unless stated                H1 2025  H1 2024      YoY change (reported)  YoY change (constant)

                                                 (restated)

 Orders (m)                             147.0    136.5        8%                     8%
 GTV per order (£)*                     25.8     25.5         1%                     2%
 GTV*                                   3,788.7  3,487.5      9%                     9%
 Revenue                                1,046.6  972.1        8%                     9%
 Revenue take rate (as % of GTV)*       27.6%    27.9%        (20) bps               -
 Gross profit                           394.1    368.7        7%                     -
 Gross profit margin (as % of GTV)*     10.4%    10.6%         (20) bps              -
 Adjusted EBITDA*                       96.3     66.2         46%                    -
 Adjusted EBITDA margin (as % of GTV)*  2.5%     1.9%         60 bps                 -

 (Loss)/profit for the period^          (19.2)   1.3          n.m.                   -
 Free cash flow*^^                      46.3     9.3          n.m.                   -
 Net cash*                              624.2    662.1        (6)%                   -

* Alternative performance measure ('APM'), refer to glossary on page 41 for
further details.

^ Continuing and discontinued operations.

^^ Free cash flow includes exceptional cash flows from discontinued
operations.

(2) The year-on-year changes in tables within this report are based on
unrounded figures.

 

To view the full release please click here:
http://www.rns-pdf.londonstockexchange.com/rns/3176U_1-2025-8-6.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/3176U_1-2025-8-6.pdf)

The interim financial report will also be available on the Deliveroo website
at https://corporate.deliveroo.co.uk/ (https://corporate.deliveroo.co.uk/) and
the results have been submitted in full unedited text to the Financial Conduct
Authority's National Storage Mechanism and will shortly be available for
inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism) .

This information contains regulated information as per 6.3.7R of the
Disclosure and Transparency Rules of the Financial Conduct Authority.

 

Contact information
Investor Relations

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)

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

 
Analyst and investor call

A conference call and webcast with Q&A for analysts and investors will be
held today at 09:00 BST / 10:00 CEST.

Registration details as follows:

Conference call: +44 (0) 33 0551 0200 (quote 'Deliveroo HY' when prompted by
the operator)

Webcast: https://brrmedia.news/ROO_HY_25 (https://brrmedia.news/ROO_HY_25)

The webcast will also be available to view at
https://corporate.deliveroo.co.uk/ (https://corporate.deliveroo.co.uk/) . A
replay will be made available later.

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

Deliveroo is an award-winning delivery service founded in 2013 by William Shu
and Greg Orlowski. Deliveroo works with approximately 178,000 best-loved
restaurants, grocers and retail partners, as well as around 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/) .

Disclaimer

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, (a) the development of its
business, trends in its operating environment; (b) future capital expenditures
and acquisitions; (c) business and management strategies of DoorDash, Inc.
("DoorDash") and the expansion and growth of the Company and potential
synergies resulting from the offer by DoorDash for the Company (the
"Acquisition"); and (d) the effects of global economic conditions and
governmental regulation on the Company's business. 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 and other factors, the events in
the forward-looking statements may not occur. These factors include, but are
not limited to: the ability to complete the Acquisition; the ability to obtain
requisite regulatory and shareholder approvals, changes in the global
political, economic, business and competitive environments and in market and
regulatory forces, changes in future exchange and interest rates, changes in
tax rates, future business combinations or disposals, changes in general
economic and market conditions in the countries in which the Company operates,
weak, volatile or illiquid capital and/or credit markets, interest rate and
currency value fluctuations, the degree of competition in the geographic and
business areas in which Deliveroo operates and changes in laws or in other
supervisory expectations or requirements. Other unknown or unpredictable
factors could cause actual results to differ materially from those expected,
estimated or projected in the forward-looking statements. These
forward-looking statements are based on numerous assumptions regarding present
and future strategies and environments. 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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