talabat is the leading on-demand online food ordering, delivery, takeaway and groceries and convenience retail marketplace in the MENA region, and category leader across eight markets, with operations in the UAE, Kuwait, Qatar, Bahrain, Egypt, Oman, Jordan and Iraq.
talabat’s online marketplace offers customers a convenient, personalised and simple way of ordering food, groceries and other convenience products from a wide selection of restaurants and retailers (“Partners”). We benefit from powerful network effects, with each constituent of our three-sided marketplace (over 6 million active customers, more than 65,000 active partners and 119,000 active riders) contributing to our growth.
Adjusted EBITDA (6.7% Adj. EBITDA margin as % of GMV)
AED 1.3 billion**
Adjusted Free Cash Flow >90% Cash conversion**
AED 367.3 million
(c.USD 100 million)Proposed Q4 2024 dividends
AED 1.5 billion
(c.USD 400 million) FY2025 dividends to be distributed
> 6 million*
Active Customers
> 65,000*
Active Partners
> 119,000*
Active Riders
AED 19.8 billion**
Gross Merchandise Value (GMV)
51%
GMV CAGR (From 2015 to 2023)
AED 1.3 billion**
Adjusted EBITDA (6.7% Adj. EBITDA margin as % of GMV)
AED 1.3 billion**
Adjusted Free Cash Flow >90% Cash conversion**
AED 367.3 million
(c.USD 100 million)Proposed Q4 2024 dividends
AED 1.5 billion
(c.USD 400 million) FY2025 dividends to be distributed
* For the month of September 2024 ** From 1 January to 29 September 2024
Investment Highlights
For the month of September 2024, talabat had more than 6 million active customers, more than 65,000 active Partners and more than 119,000 active riders, making us the largest platform in the countries in which we operate, with the highest number of orders, largest relative category share, and widest geographic reach amongst our peers in the MENA region.
talabat’s technology connects customers, partners and riders in eight countries in the MENA region, which have a population of over 185 million and an addressable population of over 71 million*.
talabat capitalises on the region’s high urbanisation, growing population and rising online penetration rate in the food and grocery and retail segments, offering localised services that meet the diverse needs of our customers.
*According to OC&C data
talabat’s business model benefits from powerful local network effects, which fuel a virtuous cycle of growth, improvements to service quality and deepening of platform loyalty – the “talabat flywheel”. As talabat’s value proposition attracts more customers to join its platform, the platform receives more orders. Greater customer demand attracts more Partners, who benefit from more sales due to higher customer volume. More Partners means a more diverse selection for our customers. More customers and Partners on the talabat platform attract more riders, which in turn leads to a better delivery experience, increased coverage for our partners and better fleet utilisation and efficiency.
talabat is focused on continuously delivering an attractive value proposition to customers, across three critical dimensions:
Selection:Over 56,300 Restaurants, 9,500 Local Shops, and more than 155 cuisines and non-food categories on the platform.
Experience: Focused on convenience, reliability and personalisation, with customers benefitting from a 99% order success rate and an average delivery time of less than 30 minutes, in each case, for the month of September 2024.
Value: Targeted and personalised promotions and discounts to customers, granting them annual savings which are funded by Partners, business-to-business partnerships and bank partnerships.
talabat has a strong track record of delivering profitable growth, with GMV for cohorts of customers acquired since 2019 having increased by approximately 4x over a period of 5 years, and a cash conversion rate exceeding 90% for the period between 1 January and 29 September 2024.
Gross Merchandise Value (GMV) totalled AED 22.3 billion in 2023, representing a 24% CAGR between 2021 and 2023. In the period between 1 January and 29 September 2024, talabat’s GMV was AED 19.8 billion compared to GMV of AED 16.3 billion for the comparable period of 2023, reflecting a period-on-period increase of 21.3%.
Revenue totaled AED 8.0 billion in 2023, up 26.6% year-on-year. In the period between 1 January and 29 September 2024, talabat’s revenue amounted to AED 7.6 billion compared to AED 5.8 billion for the comparable period of 2023, reflecting a period-on-period increase of 32.0%.
Adjusted EBITDA totaled AED 1.3 billion for the period between 1 January and 29 September 2024 up 63.4% year-on-year.
Adjusted Free Cash Flow amounted to AED 1.1 billion in 2023, up 79.2% year-on-year. In the period between 1 January and 29 September 2024, talabat’s Adjusted Free Cash Flow amounted to AED 1.3 billion compared to AED 752.6 million for the comparable period of 2023, reflecting a period-on-period increase of 68.1%.
Adjusted Free Cash Flow Margin as a percentage of GMV was 5.0% and 6.4% for the year 2023 and the period between 1 January and 29 September 2024, respectively.
Q4 2024 dividend of AED 367.25 million (c. USD 100 million) intended to be paid in April 2025. FY2025 dividendof AED 1,469 million (c. USD 400 million) intended to be distributed in October 2025 and April 2026, in respect of the financial results for the year ending 31 December 2025.
talabat’s technology is the engine that drives our business, supported by over 480+ talented product, design, engineering, and data technologists across its tech hubs.
Our machine learning models allow us to introduce and cross-sell verticals, as well as initiatives such as talabat Pro and talabat Rewards, at the right time for customers to benefit.
Our understanding of customers helps us understand the next set of Partners and deals to introduce in each geography, allowing us to seamlessly bridge the gap between customer demand and Partner interest.
Being part of Delivery Hero, talabat has the ability to leverage its global reach, experience and expertise to enhance its own capabilities and benefit from innovation around the world. Our access to, and use of, technology owned by Delivery Hero gives us industry-leading innovation capabilities and tailored solutions for our customers, Partners and riders.
talabat’s success to date has been driven by its experienced management team, dedicated to building the best order experience for every constituent using its marketplace. We are proud to have over 40 years combined c-suite management experience in our ranks.
Our local and regional organisational structure provides significant operational leverage and allows talabat to maintain an efficient selling, general and administrative cost base. By empowering our regional teams, we foster innovation, ensure consistency in planning and execution, and effectively implement best practices across our markets.
Your IR Contact
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Abu Dhabi, United Arab Emirates