Deliveroo results were largely flagged in a trading update in January so guidance for 2024 will be the thing to watch in Thursday’s number.
Deutsche Bank is estimating 7,660m of GTV (transaction value), £2,167bn of revenue, and £120m of Adjusted EBITDA.
January’s trading update showed some softening in UK & Ireland GTV growth, due in part to commercial and pricing changes.
Deliveroo's revenue take rate slightly declined due to promotion and a mix shift in marketing expense, from brand marketing to promotional marketing, to reinforce price perception.
“Overall, we think Deliveroo’s update showed the group is implementing its investment plan to drive GTV growth acceleration while continuing to expand its adjusted EBITDA margin.”
“On Thursday, we will look for incremental comments on the strategic progress and a reiteration of the group mid-term targets.”