Deliveroo — Q3 2022 Earnings Presentation
16 slides from Deliveroo's earnings presentation, Oct 21, 2022
Slide 1: Deliveroo 2022 Q3 Trading Update
Deliveroo 2022 Q3 Trading Update 21 October 2022 1
Slide 2: Definitions & Basis of Discussion
Definitions & Basis of Discussion References to profitability in this presentation are to adjusted EBITDA unless otherwise stated. Adjusted EBITDA represents loss for the year before income tax charge/credit, finance costs, finance income, depreciation and amortisation, exceptional costs, exceptional in
Slide 3: Overview | Key takeaways
Overview | Key takeaways Continued GTV growth in difficult consumer environment: Q3 GTV up 5% 1 YoY (Q1: 12% and Q2: 2%) GTV growth broadly stable during Q3: September YoY growth similar to 2 Q3 overall; GTV down (5)% QoQ reflecting summer seasonality UKI outperformed International segment: with GTV in
Slide 4: Business highlights | Continued progress from relentless focus on all sides of our marketplace
Business highlights | Continued progress from relentless focus on all sides of our marketplace Highly engaged marketplace Q3 2022 financial performance Consumers: 7.3 million average monthly active consumers in Q3 20221 Orders: (1)% 73m YoY Riders: 81% global rider satisfaction2 across our network of
Slide 5: Group | Year-on-year GTV growth in Q3 improved despite difficult consumer environment
Group | Year-on-year GTV growth in Q3 improved despite difficult consumer environment Orders GTV m, global 48% 42% 40% £m, global 49% 44% 43% 90% 66% 42% 18% 3% (1)% 82% 59% 36% 12% 2% 5% x% Year-on-year growth x% ‘22 vs ‘19 CAGR GTV growth rates are shown at constant currency. 5
Slide 6: Group | GTV per order grew both sequentially and year-on-year
Group | GTV per order grew both sequentially and year-on-year x% Year-on-year growth in constant currency GTV per order YoY GTV per order £, global £, global 8% (4)% (4)% (5)% (6)% 0% 6% 3% 6% GTV per order growth rates are shown at constant currency. 6
Slide 7: Group | Seasonal drop in monthly active consumers
Group | Seasonal drop in monthly active consumers Average monthly active consumers Average monthly order frequency m, global #, global 82% 59% 37% 16% 4% 1% x% Year-on-year growth Monthly active consumers: the number of individual consumer accounts that have placed an order on our platform in a give
Slide 8: UK & Ireland | Solid performance in difficult market conditions
UK & Ireland | Solid performance in difficult market conditions Orders GTV Highlights m 48% 44% 44% £m 51% 48% 48% ● YoY growth accelerated: GTV up 94% 59% 41% 20% 5% 5% 87% 56% 36% 12% 4% 11% 11% in Q3 (Q2: 4%) ● Continued market share gains YoY ● Expansion of Deliveroo offering: ○ Enhanced restauran
Slide 9: International | Growth held back by declines in Asia Pacific
International | Growth held back by declines in Asia Pacific Orders GTV Highlights 49% 40% 36% 47% 40% 37% m £m ● Growth relatively stronger in Europe 86% 73% 43% 16% 1% (7)% 77% 63% 36% 11% 1% (2)% and the Middle East ● Continued market share gains YoY in France and Italy ● Declines in Asia Pacific a
Slide 10: Guidance | Updated for 2022, unchanged for medium- and longer-term
Guidance | Updated for 2022, unchanged for medium- and longer- term 2022 2022 2022 2022 2021 Prior Updated H1 H2 Actual Guidance* Guidance actual implied GTV growth 70% 4 - 12% 4 - 8% 7% 1 - 9% in constant currency Adjusted EBITDA margin (2.0)% (1.5) - (1.8)% (1.2) - (1.5)% (1.9)% (0.5) - (1.1)% % o
Slide 11: Financial performance | Continued progress on path to profitability
Financial performance | Continued progress on path to profitability 8.5% Gross Profit 7.8% Margin (% of GTV) Revenue levers ● Increase AOV (eg by upselling) 7.2% ● Optimise consumer pricing ● Develop high quality advertising model 2021 2022 Cost of sales levers Mid-point ● Reduce ‘rider experience tim
Slide 12: Summary | Key takeaways
Summary | Key takeaways Continued GTV growth in difficult consumer environment: Q3 GTV up 5% 1 YoY (Q1: 12% and Q2: 2%) GTV growth broadly stable during Q3: September YoY growth similar to 2 Q3 overall; QoQ contraction due to summer seasonality UKI outperformed International segment: with GTV in UKI u
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Slide 14: Appendix
Appendix 14
Slide 15: Financial KPIs
Financial KPIs £m Q1 20 Q2 20 H1 20 Q3 20 Q4 20 FY 2020 Q1 21 Q2 21 H1 21 Q3 21 Q4 21 FY 2021 Q1 22 Q2 22 H1 22 Q3 22 Group Orders (m) 32 40 73 44 57 174 70 77 146 74 81 301 82 79 161 73 % year-over-year - - - - - - 116% 90% 102% 66% 42% 73% 18% 3% 10% (1)% GTV 695 965 1,660 1,012 1,307 3,979 1,616
Slide 16: Disclaimer
Disclaimer This presentation 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",