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Deliveroo Achieves Key Milestone

by Deirdre O Meara
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Popular meal delivery company Deliveroo recently announced that it had achieved breakeven in adjusted earnings in the second half of 2022. This is a major milestone for the company, and is evidence of its continued success and growth. Let’s take a closer look at this news and what it could mean for the future of Deliveroo.

 


Deliveroo’s financial performance has been impressive so far this year, with gross transaction value (GTV) of orders increasing 6% to £1.8bn (€2.05bn) in the fourth quarter, as item price inflation offset a 2% drop in order numbers. The company also said that its adjusted EBITDA margin for 2022 was -1%, which is better than expected. In addition, Deliveroo’s founder and CEO Will Shu said that the company had delivered “significant improvements in profitability” during the year.

 


Deliveroo’s financial performance has been impressive so far this year, with gross transaction value (GTV) of orders increasing 6% to £1.8bn (€2.05bn) in the fourth quarter, as item price inflation offset a 2% drop in order numbers. The company also said that its adjusted EBITDA margin for 2022 was -1%, which is better than expected. In addition, Deliveroo’s founder and CEO Will Shu said that the company had delivered “significant improvements in profitability” during the year.

 


Deliveroo also said that it expects further improvements in 2023 as demand continues to pick up across the industry following COVID-19-related restrictions being lifted around the world. With this increased demand comes increased opportunities for Deliveroo to continue expanding its operations and growing its customer base even further. It will be interesting to see how much further they can push their margins up over the coming year now that they have achieved breakeven status.

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