Talabat, the leading food delivery and quick commerce platform in the Middle East and North Africa (MENA), has announced its financial results for the fiscal year ending December 31, 2024. The company demonstrated strong business momentum, surpassing revenue and Adjusted EBITDA projections while reinforcing its position as a dominant player in the region’s digital economy.
Record-Breaking Performance in 2024
Talabat reported significant growth across key financial and operational metrics, highlighting its robust expansion and operational efficiencies:
•Gross Merchandise Value (GMV): $7.4 billion (+23% year-over-year)
•Management Revenue: $3.0 billion (+32% year-over-year)
•Adjusted EBITDA: $497 million (+55% year-over-year)
•Net Income: $346 million (+64% year-over-year)
•Adjusted Net Income: $393 million (+53% year-over-year)
•Adjusted Free Cash Flow: $462 million (+54% year-over-year)
The company’s strong performance in the final quarter of 2024 also supports an increased dividend payment of $110 million, in line with its dividend policy, subject to the Board of Directors’ final recommendation and shareholder approval.
Talabat’s Successful IPO and Market Positioning
In December 2024, Talabat successfully completed its highly anticipated initial public offering (IPO) on the Dubai Financial Market, raising $2 billion. Despite initial volatility, with a 6.5% drop in share value on the first day of trading, the company has demonstrated resilience by delivering record-breaking financial results in the following months. These results reaffirm investor confidence and Talabat’s potential for sustained long-term growth.
Strategic Focus on Innovation and Expansion
Talabat’s success in 2024 is attributed to its strategic expansion, investment in technology, and continuous enhancement of user experience. The company has significantly strengthened its presence across the UAE, Saudi Arabia, Kuwait, and other MENA markets, leveraging data-driven insights and AI-powered logistics to improve operational efficiencies.
Key areas of focus for Talabat’s growth include:
•Enhancing Quick Commerce (q-commerce): Expanding rapid grocery and essentials delivery services to cater to evolving consumer demands.
•Strengthening Merchant Partnerships: Providing innovative digital solutions and financial support to thousands of restaurants and retailers.
•Rider Empowerment Initiatives: Improving working conditions and earnings opportunities for delivery partners through technology and incentive programs.
•Sustainability & ESG Commitments: Driving sustainable practices in packaging, fleet electrification, and carbon footprint reduction.
Looking Ahead: 2025 and Beyond
With a strong foundation in 2024, Talabat is poised for continued success in 2025 and beyond. The company remains committed to expanding its service offerings, leveraging cutting-edge technology, and delivering greater value to its customers, partners, riders, and shareholders.
As Talabat continues its upward trajectory, industry analysts and investors will closely monitor its performance and market strategies. With a focus on sustainable growth and digital transformation, the company aims to solidify its leadership in the MENA food delivery and q-commerce industry.
