7 August 2025

Interim financial report 2025

Deliveroo plc

Strong H1 performance with acceleration in growth and continued progress on profitability

Deliveroo plc has today published its interim results for the period ended 30 June 2025. Full release is available at: http://www.rns-pdf.londonstockexchange.com/rns/3176U_1-2025-8-6.pdf

Highlights¹

● Strong top-line performance with broad-based growth and an acceleration during the period

○ Good growth across key metrics: GTV* and revenue up 9% in constant currency* (9% and 8%, respectively, in reported currency), with orders up 8%, driven by further execution on our growth initiatives and a more resilient than expected consumer.

○ Strong performance in both segments with constant currency GTV growth of 10% in UKI and 9% in International, where strength in UAE and Italy was offset partially by continued softness in France.

○ Broad-based growth across verticals with a marked improvement in restaurant growth, strong double-digit growth in grocery and further progress in retail and advertising.

○ Acceleration in growth in Q2 with orders up 8% (Q1 2025: 7%), GTV up 10% (Q1 2025: 9%) in constant currency and revenue up 9% (Q1 2025: 8%) in constant currency.

● Encouraging consumer engagement metrics supported by consumer value proposition (CVP) enhancements

○ Further CVP enhancements: continued to increase the value on offer to our Plus subscribers through the launch of new partnerships and benefits, improved selection with 4,000 merchant sites added, reduced critical order defects to all-time lows and continued to promote value for money to consumers.

○ Continued improvement in consumer engagement: group average order frequency (AOF) increased across every annual cohort, with retention trends also improving year-on-year, as CVP enhancements bear fruit.

● Further momentum on profitability and free cash flow

○ Strong growth in adjusted EBITDA*, up 46% to £96 million (H1 2024: £66 million); adjusted EBITDA margin (as a % of GTV)* increased to 2.5% (H1 2024: 1.9%) driven by marketing efficiencies and operating leverage.

○ Loss for the period of £(19.2) million, compared to a profit of £1.3 million in H1 2024, primarily due to higher exceptional items relating to costs associated with the DoorDash, Inc. acquisition. Profit for the period before any deal related charges (tax adjusted) was £31.8 million.

○ Free cash flow* of £46.3 million (H1 2024: £9.3 million), with the year-on-year improvement primarily driven by the increase in adjusted EBITDA and lower cash exceptional outflows, offset by a working capital outflow.

○ Net cash* of £624 million (H2 2024: £662 million); £90m of share buybacks completed in H1 2025.

● Acquisition by DoorDash, Inc. proceeding in-line with expected timetable

○ Shareholder approval received on 16 June 2025.

○ Regulatory approval process ongoing; continue to expect transaction completion in Q4 2025.

2025 outlook

● GTV growth guidance narrowed to around the top end of the previously-guided range of high single-digits percentage growth in constant currency.

● Adjusted EBITDA guidance narrowed to be in the upper half of the previously-guided range of £170-190 million, reflecting strong H1 performance and H2 weighting of previously-flagged investments to capture future growth opportunities.

Medium-term outlook

● GTV growth: targeting mid-teens percentage growth per annum (in constant currency) in the medium term.

● Profitability: adjusted EBITDA margin (as % of GTV) target of 4%+ in the medium term, with margin improvement accelerating from 2026.

¹ In this section, all growth rates are year-on-year and in reported currency unless otherwise stated, and all 2024 and 2025 Income Statement and alternative performance measures ('APMs') exclude the underlying results from Hong Kong, where operations ended on 10 March 2025 (this market is treated as a discontinued operation).

* Alternative performance measure ('APM'), refer to glossary on page 41 for further details.

Will Shu, Founder and CEO of Deliveroo, said:

"The first half of this year was very positive. Our long term focus on improving the CVP 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."

Summary financial information²

£ million unless stated	H1 2025	H1 2024 (restated)	YoY change (reported)	YoY change (constant)

Orders (m)	147.0	136.5	8%	8%
GTV per order (£)*	25.8	25.5	1%	2%
GTV*	3,788.7	3,487.5	9%	9%
Revenue	1,046.6	972.1	8%	9%
Revenue take rate (as % of GTV)*	27.6%	27.9%	(20) bps	-
Gross profit	394.1	368.7	7%	-
Gross profit margin (as % of GTV)*	10.4%	10.6%	(20) bps	-
Adjusted EBITDA*	96.3	66.2	46%	-
Adjusted EBITDA margin (as % of GTV)*	2.5%	1.9%	60 bps	-

(Loss)/profit for the period^	(19.2)	1.3	n.m.	-
Free cash flow*^^	46.3	9.3	n.m.	-
Net cash*	624.2	662.1	(6)%	-

* Alternative performance measure ('APM'), refer to glossary on page 41 for further details.
^ Continuing and discontinued operations.

^^ Free cash flow includes exceptional cash flows from discontinued operations.

² The year-on-year changes in tables within this report are based on unrounded figures.

To view the full release please click here: http://www.rns-pdf.londonstockexchange.com/rns/3176U_1-2025-8-6.pdf

The interim financial report will also be available on the Deliveroo website at https://corporate.deliveroo.co.uk/ and the results have been submitted in full unedited text to the Financial Conduct Authority's National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

This information contains regulated information as per 6.3.7R of the Disclosure and Transparency Rules of the Financial Conduct Authority.

Contact information

Investor Relations

Tim Warrington - investors@deliveroo.co.uk

Media Relations

Joe Carberry, VP Policy & Communications - joe.carberry@deliveroo.co.uk

Brunswick Group: Rosie Oddy and Jono Astle - deliveroo@brunswickgroup.com

Analyst and investor call

A conference call and webcast with Q&A for analysts and investors will be held today at 09:00 BST / 10:00 CEST.

Registration details as follows:

Conference call: +44 (0) 33 0551 0200 (quote 'Deliveroo HY' when prompted by the operator)

Webcast: https://brrmedia.news/ROO_HY_25

The webcast will also be available to view at https://corporate.deliveroo.co.uk/ . A replay will be made available later.

About Deliveroo plc ('Deliveroo' or 'the Company' or 'we')

Deliveroo is an award-winning delivery service founded in 2013 by William Shu and Greg Orlowski. Deliveroo works with approximately 178,000 best-loved restaurants, grocers and retail partners, as well as around 130,000 riders to provide the best on-demand delivery experience in the world. Deliveroo is headquartered in London, with offices around the globe. Deliveroo operates across 9 markets, including Belgium, France, Italy, Ireland, Kuwait, Qatar, Singapore, United Arab Emirates and the United Kingdom.

Further information regarding Deliveroo is available on the Company's website at https://corporate.deliveroo.co.uk/ .

Disclaimer

This announcement may include forward-looking statements, which are based on current expectations and projections about future events. These statements may include, without limitation, any statements preceded by, followed by or including words such as "target", "believe", "expect", "aim", "intend", "may", "anticipate", "estimate", "plan", "project", "will", "can have", "likely", "should", "would", "could" and any other words and terms of similar meaning or the negative thereof. These forward-looking statements are subject to risks, uncertainties and assumptions about the Company and its subsidiaries and its investments, including, among other things, (a) the development of its business, trends in its operating environment; (b) future capital expenditures and acquisitions; (c) business and management strategies of DoorDash, Inc. ("DoorDash") and the expansion and growth of the Company and potential synergies resulting from the offer by DoorDash for the Company (the "Acquisition"); and (d) the effects of global economic conditions and governmental regulation on the Company's business. The forward-looking statements in this announcement speak only as at the date of this announcement. These statements reflect the beliefs of the Directors, (including based on their expectations arising from pursuit of the Group's strategy) as well as assumptions made by the Directors and information currently available to the Company. Further, certain forward-looking statements are based upon assumptions of future events which may not prove to be accurate and none of the Company nor any member of the Group, nor any of such person's affiliates or their respective directors, officers, employees, agents and/or advisors, nor any other person(s) accepts any responsibility for the accuracy or fairness of the opinions expressed in this announcement or the underlying assumptions. Actual events or conditions are unlikely to be consistent with, and may differ significantly from, those assumed. In light of these risks, uncertainties, and assumptions and other factors, the events in the forward-looking statements may not occur. These factors include, but are not limited to: the ability to complete the Acquisition; the ability to obtain requisite regulatory and shareholder approvals, changes in the global political, economic, business and competitive environments and in market and regulatory forces, changes in future exchange and interest rates, changes in tax rates, future business combinations or disposals, changes in general economic and market conditions in the countries in which the Company operates, weak, volatile or illiquid capital and/or credit markets, interest rate and currency value fluctuations, the degree of competition in the geographic and business areas in which Deliveroo operates and changes in laws or in other supervisory expectations or requirements. Other unknown or unpredictable factors could cause actual results to differ materially from those expected, estimated or projected in the forward-looking statements. These forward-looking statements are based on numerous assumptions regarding present and future strategies and environments. No representation or warranty is made that any forward-looking statement will come to pass. No one undertakes to update, supplement, amend or revise any forward-looking statements. You are therefore cautioned not to place any undue reliance on forward-looking statements.