Building on its half-year results, the delivery aggregator reported strong growth in adjusted EBITDA for the year ended 31 December 2024, up 52% to £130m (2023: £85m).
Profit for the period was £3m, compared to a loss of £32m in 2023.
The group says its ‘robust top-line performance’ was driven by continued execution amid an uncertain consumer environment.
Growth was reported across key metrics with gross transaction value (GTV) across the business up 6% and revenue up 3%, while orders returned to growth of 2%.
“Over the past year, we have been relentlessly focused on making the Deliveroo experience even better,” says Will Shu, founder and CEO of Deliveroo.
“The robust results we’ve announced today, with our first full year profit and positive free cash flow as well as GTV growth across our verticals, demonstrate that our strategy is working.”
Over the year, Shu says the group continued to deliver value to consumers by incentivising partners to reduce mark-ups and by enhancing its loyalty programme, which introduced a new premium tier last summer.
“Our dedication to making every order perfect is having a meaningful impact on consumer satisfaction, as reflected in our net promoter score,” he adds.
Deliveroo’s net promoter score improved by four points year-on-year in 2024.
In the UK & Ireland, constant currency GTV growth was 7% for the period and 4% in international.
Average order frequency increased across every annual cohort at a group level, and retention improved through the year, which Deliveroo says was supported by progress on its consumer value proposition (CVP).
“Whilst the consumer environment remains uncertain, I am confident that we can continue to deliver growth by focusing on the levers in our control: supporting our restaurant partners to meet untapped consumer demand around new occasions, expanding our grocery and retail offering, and continuously improving our CVP,” Shu says.
“I want to thank the team for all their hard work and expertise in 2024 which will help us to capture the many opportunities ahead of us.”
Earlier this week, Deliveroo announced it is to wind down its operations in Hong Kong after nearly a decade.
In a statement, it said it decided to exit the Hong Kong market through a sale of certain assets to Singaporean delivery platform Foodpanda and the closure of other assets.
It’s platform in the region will remain live until 7 April 2025.
