Deliveroo (ROO) Q4 2024 TU earnings summary

Executive summary

• Group GTV grew 6% in constant currency for 2024, with Q4 GTV up 7% and order growth of 3%, in line with guidance.

• Adjusted EBITDA is expected toward the top end of the £110m–£130m range, with positive free cash flow for the year.

• Enhanced Plus loyalty program, improved consumer value proposition, and strong grocery growth drove frequency and retention improvements.

• Grocery and retail segments, especially in the UK and UAE, contributed significantly to growth, outpacing core food.

• Retail partnerships expanded in Q4, including Wilko, HURR, Accessorize, and Not On The High Street.

Financial highlights

• Q4 group revenue grew 6% in constant currency; FY 2024 revenue reached £2,072m.

• Q4 GTV grew 7% year-over-year in constant currency to £1,965m; orders increased 3% and GTV per order rose 4%.

• FY 2024 GTV reached £7,433m, up 5% year-over-year.

• Take rate decreased by 40 basis points year-on-year due to planned investments in customer value proposition.

• Free cash flow was positive for the full year, reflecting operational discipline.

Outlook and guidance

• FY25 guidance will be provided with full year results on 13 March 2025.

• Continued focus on driving efficiency, investing in customer value proposition, and profitable growth.