Talabat Holding plc, a Dubai-based on-demand delivery platform and a subsidiary of Delivery Hero, released its first financial report since its IPO on the Dubai Financial Market in December 2024.

The company reported a Gross Merchandise Value (GMV) of US$7.4 billion in 2024, a 23% increase from the previous year.

Revenue grew 32% year-on-year to US$3 billion, while adjusted EBITDA rose 55% to US$497 million. Net income surged 64% to US$346 million.

Both GCC and non-GCC markets saw growth, with GMV in the GCC rising 20% to US$6.3 billion.

Non-GCC markets grew 42% to US$1.1 billion, with food orders contributing US$5.5 billion, a 16% increase.

Higher consumer demand, a 25% increase in monthly active customers, and improved monetization helped drive performance.

For 2025, talabat expects GMV growth of 17-18% and revenue growth of 18-20%. Net income margins are projected to rise to 5.0-5.5%.