Deliveroo PLC on Friday noted improved order growth in 2023 as it expects annual earnings to be ahead of its guidance.
The London-based food delivery services firm said it anticipates adjusted earnings before interest, tax, depreciation and amortisation in 2023 to be ‘slightly above’ its guidance range of £60 million to £80 million. This would be an improvement from an adjusted Ebitda loss of £45.0 million in 2022.
It also saw gross transaction volume growth of 3%, in line with its guidance of lower single digit percentage growth at constant currency. In 2022, GTV growth was 5%.
Domestically, GTV growth was 7% year-on-year, with underlying GTV trends ‘remaining steady’. Meanwhile, international GTV returned to growth of 1% at constant currency due to improving trends in most markets, Deliveroo explained, as well as ‘continued strength in Italy and the United Arab Emirates’.
Founder & Chief Executive Officer Will Shu said: ‘I’m really proud of the team’s execution in Q4, including launching our retail offering. We delivered a good performance in UK and saw International return to GTV growth, with encouraging trends in several markets.’
Deliveroo will publish its full-year financial results on March 14.
Shares in Deliveroo rose 0.3% to 135.20 pence each in London on Friday morning.
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