Deliveroo sales rise by 5% in Q3
Looking ahead, its full-year guidance is maintained, with adjusted EBITDA expected to be in the range of £60-80m
Deliveroo sales have risen by 5% year-on-year in its third quarter, boosted by an improving trend in orders, which rose by 1% year-on-year.
According to the group, growth trends were “underpinned by a further strengthening of the consumer value proposition (CVP)”. Which includes expanded selection, targeted promotions and service enhancements.
Over the period, UKI gross transaction value was up 9%, though international GTV decline reduced to -1% in constant currency, though there were improving trends across most markets, including France.
Looking ahead, its full-year guidance is maintained, with adjusted EBITDA expected to be in the range of £60-80m.
Will Shu, founder and CEO of Deliveroo, said: “I’m really pleased with our results and proud of the team’s execution, especially the continued progress on service towards a seamless delivery experience. We’ve also made clear progress in promoting value within the app, which remains so important given the tough consumer backdrop.
“We continue to deliver strong performance in UKI and I’m encouraged by the improving growth trends in key International markets. My confidence in our ability to drive growth and deliver on our goals for profitability and sustainable cash flow generation has never been stronger, and I’m excited to share more at our Capital Markets Event on 29 November.”
