Deliveroo plc (LON:ROO) has announced its Q1 2025 trading update.
Strong Q1 performance with acceleration in order growth
● Strong performance with growth in GTV and orders1
○ Gross transaction value (GTV) up 9% year-on-year (YoY)2 in constant currency (up 9% in Q4 2024)
○ Continued improvement in order growth, up 7% (up 6% in Q4 2024), with GTV per order up 2%
● Acceleration in order growth across both UKI and International
○ In UKI, GTV growth was 9% YoY in constant currency (9% in Q4 2024). Order growth accelerated to 7% (5% in Q4 2024) with both GTV and orders growing ahead of the market
○ In International, GTV growth was 9% YoY in constant currency (10% in Q4 2024). Orders were up 7% (6% in Q4 2024), with ongoing strength in UAE and Italy offset partially by continued softness in France
● Group revenue growth of 8% in constant currency
○ Revenue take rate (% of GTV) was flat sequentially, while decreasing 40 bps YoY as expected to 27.7% principally due to our continued investments in the consumer value proposition (CVP)
● FY 2025 guidance maintained
○ GTV growth anticipated to be high single-digits percentage growth (in constant currency)
○ Adjusted EBITDA expected to be in the range of £170-190 million, as we make targeted investments to capture future growth opportunities
Will Shu, Founder and CEO of Deliveroo, said:
“I am really pleased with our strong start to the year, marked by a 9% year-on-year increase in GTV and 7% growth in orders. This represents a further acceleration from the fourth quarter. We made good strides in both UKI and International and this improvement is a reflection of our relentless focus on enhancing our customer value proposition (CVP). Our CVP investments to date are proving successful, as demonstrated by the accelerating growth in order volumes and our monthly active consumers. We continue to have confidence in delivering our guidance for 2025 whilst, like many others, remaining mindful of the uncertain macroeconomic environment.”
| GTV (£m) | 1,176 | 1,079 | 9% | 9% | |||
| Orders (m) | 42.6 | 39.7 | 7% | 7% | |||
| GTV per order (£) | 27.6 | 27.2 | 2% | 2% | |||
| Revenue (£m) | 327 | 306 | 7% | 7% | |||
| International | |||||||
| GTV (£m) | 695 | 648 | 7% | 9% | |||
| Orders (m) | 30.0 | 28.1 | 7% | 7% | |||
| GTV per order (£) | 23.2 | 23.1 | 0% | 2% | |||
| Revenue (£m) | 192 | 179 | 7% | 9% |
[1] Deliveroo ended its operations in Hong Kong on 7 April 2025. To provide a better understanding of performance for the ongoing scope of operations, analysis of the Company’s results in this announcement is on a ‘continuing operations’ basis i.e. excluding results from Hong Kong for the current period and comparative periods – unless otherwise stated.
2 Q1 2024 included 91 trading days due to the leap year, compared to 90 in Q1 2025.
Appendix:
Average monthly active consumers and monthly order frequency
| Continuing operations (excluding Hong Kong) | Q1 2023 | Q22023 | Q32023 | Q42023 | Q12024 | Q22024 | Q32024 | Q4 2024 | Q12025 |
| UK & Ireland (m) | 4.0 | 4.0 | 3.9 | 4.0 | 3.9 | 3.9 | 3.8 | 4.1 | 4.0 |
| International (m) | 2.7 | 2.7 | 2.6 | 2.8 | 2.8 | 2.8 | 2.7 | 2.9 | 3.0 |
| Average monthly active consumers (m) | 6.7 | 6.6 | 6.4 | 6.8 | 6.7 | 6.7 | 6.5 | 7.0 | 7.0 |
| Year-on-year growth in MACs | – | – | – | – | 0% | 1% | 2% | 3% | 4% |
| Average monthly order frequency | 3.3 | 3.3 | 3.3 | 3.4 | 3.4 | 3.4 | 3.4 | 3.5 | 3.5 |
Monthly active consumers (‘MACs’) is the number of individual consumer accounts that have placed an order on our platform in a given month; average MACs for a quarter is the average of MACs for the three months of that quarter.
Average order frequency (monthly) is the average number of orders placed by active consumers in a month; AOF for a quarter is the average of AOF for the three months of that quarter.
Analyst and investor call
Given the proximity of this announcement to the recently-reported FY 2024 results, Deliveroo will not hold a conference call on the trading update. Please address any questions to the Investor Relations and Media Relations teams using the contact information below.
