Deliveroo: Update Reveals Adjusted Growth Targets and Strategic Expansion Plans

In a press release published earlier on Nov. 29, its capital markets day, Deliveroo updated midterm guidance for growth in gross transaction value in the midteens per year from 20%-25% per year previously versus about 15% in our model (2022-27). Deliveroo announced that there will be no new disclosures on current trading and reiterated guidance for 2023 (low single-digit GTV growth and GBP 60 million-GBP 80 million EBITDA). The capital markets day presentation focused on growth opportunities in its existing restaurant and grocery business, the launch of new retail propositions, improvements in delivery experiences, Deliveroo Plus loyalty program (subscriptions), scaling of the advertising business, vision of the future consumer experience, and the company's financial framework.