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Deliveroo: The title advances, solid half-year performance


(CercleFinance.com) – The British meal delivery group Deliveroo rose on the London Stock Exchange on Wednesday after reporting a “solid performance” in its first half, despite an environment deemed “difficult” in the consumption point of view.

Over the first six months of the year, the gross value of its transactions (GTV) increased by 7% over one year to reach nearly 3.56 billion pounds.

Its turnover increased even more markedly, with an increase of 12% to 1.01 billion pounds under the effect of the increase in the commissions it receives on orders and the take-off of its advertising revenue , a new source of income.

In its press release, Deliveroo says it has continued to gain market share in the United Kingdom and Ireland, but also in France and Italy.

However, the group has announced its intention to withdraw from the Netherlands, a market where it does not hold a dominant position and which represented only 1% of the gross value of its transactions in the first half.

Will Shu, the company’s founder and chief executive, said the company remains committed to becoming profitable from an operating perspective and generating positive free cash flow.

Over the first six months of the year, its adjusted operating loss (Ebitda) widened to 68 million pounds, for a negative cash flow of 128.4 million.

The company said it is maintaining its annual target of 4% to 12% growth in order value at constant exchange rates and an adjusted operating margin between -1.8% and -1.5%. %.

The title, which has continued to lose ground since its IPO last year, was up nearly 3% late Wednesday morning.

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