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Deliveroo PLC on Thursday said it had a ‘positive’ first half of the year, with the company now expecting growth at the top end of expectations, as it looks ahead to its takeover by New York-listed DoorDash Inc. In the six months to June 30, the London-based food delivery firm swung to a pretax loss from continuing operations of £15.1 million, from a profit of £12.1 million a year prior. Hurting its bottom line, Deliveroo paid £39.2 million in fees and related costs connected to the buyout by DoorDash. In the first half, the gross transaction value advanced 8.6% to £3.78 billion from £3.49 billion a year prior, while revenue rose 7.7% to £1.05 billion from £972.1 million. Deliveroo in May agreed to a £2.9 billion takeover by DoorDash. The cash offer from its San Francisco-based peer is worth 180 pence per share. The deal is expected to be effective in the fourth quarter. Shares in Deliveroo were flat at 177.40p in London on Thursday morning, giving it a market capitalisation of £2.65 billion. It had floated back in March 2021 at 390p per share, meaning its stock price has more than halved since. The DoorDash offer is 54% lower than the IPO price. Chief Executive Officer Will Shu said: ‘The first half of this year was very positive. Our long-term focus on improving the [consumer value proposition] is paying off. Consumer engagement is encouraging, with order frequency and retention continuing to improve across all cohorts. Today, both growth and profitability are accelerating. We are delivering on our mission to change the way people shop and eat and to bring the neighbourhood to people’s doors. I’m proud of where we are and all that we have achieved. We helped to build an entire sector and have redefined it multiple times over. ‘I’m excited for what the partnership with DoorDash can bring in the future. They will be an excellent partner for everyone at the company, as well as for our consumers, merchant partners and riders.’ Looking ahead to all of 2025, Deliveroo expects a gross transaction value at the ‘top end’ of its previously guided range of high single-digit percentage growth on a constant currency basis. Adjusted earnings before interest, tax, depreciation and amortisation guidance has been narrowed to the ‘upper half’ of a £170 million to £190 million range. Adjusted Ebitda in 2024 was £129.6 million, while GTV amounted to £7.43 billion. GTV is essentially the total value of orders Deliveroo receives from customers. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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