Deliveroo 2H Adj Ebitda Breakeven


By Anthony O. Goriainoff

Deliveroo PLC said Thursday that fourth-quarter gross transaction value, or GTV, growth was 6% year-on-year, and that adjusted Ebitda in the second half was approximately breakeven for all operations.

The U.K. food-delivery company reported that its full-year gross transaction value rose 7% on a constant currency basis to 7.08 billion pounds ($8.74 billion) compared with GBP6.63 billion in 2021. GTV for the year for all operations was up 5% and within guidance of 4% to 8% growth range, also in constant currency, the company said.

Total orders for the year were up 3% at 309.9 million.

In the fourth quarter, GTV for all operations increased 5% on-year to GBP1.82 billion from GBP1.73 billion. Orders including Australia and the Netherlands were down 6% at 76.3 million. Not including these two countries orders were down 2% at 75.1 million.

The company said in March it expected to report a 2022 adjusted loss before interest, taxes, depreciation and amortization–which strips out exceptional and other one-off items–in the 1.5% and 1.8% range.

Deliveroo said that adjusted earnings before interest, taxes, depreciation and amortization–a metric which strips out exceptional and other one-off items–are expected to continue improving in 2023.

“Amidst an uncertain outlook for 2023, we remain confident in our ability to adapt financially and to make continued progress on our path to profitability,” Chief Executive Will Shu said.

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

Corrections & Amplifications

This stroy was corrected at 0852 GMT. The original version incorrectly said Deliveroo full-year gross transaction value in 2022 was GBP6.63 billion. The correct year was 2021.



This story originally Appeared on marketwatch

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