1️⃣ Introduction 📈
Deliveroo Plc, the renowned food delivery service, reported a 2% increase in orders during the first quarter of 2024, marking a return to growth. With 73.5 million orders placed, the company saw a significant rise from last year's 72.1 million during the same period. This growth was bolstered by robust performances in France, UAE, Hong Kong, and Italy.
2️⃣ Financial Overview 💰
Despite a static scene in the UK and Ireland, Deliveroo's international success led to a 6% increase in gross transaction value, reaching $2.3 billion. Shares surged by up to 7.7% in early trading in London, reflecting investor optimism about the company's strategic direction and market execution.
3️⃣ Executive Insight 🗣️
"We made particularly strong progress in international markets during the quarter," stated Will Shu, CEO of Deliveroo. He highlighted the strategic moves and operational enhancements that spurred growth in key markets.
4️⃣ Competitive Landscape ⚔️
Contrasting Deliveroo's success, Just Eat Takeaway.com reported a decrease in orders, indicating a persistent struggle to bounce back post-pandemic. The food delivery landscape continues to be competitive, with companies like Deliveroo making strategic exits from non-core markets to cement profitability.
Will Deliveroo maintain its growth in 2024?
