Talabat Forecast Upgrade Follows Strong Quarter
Talabat Holding plc has raised its full-year growth forecasts after a second quarter surge powered by post-IPO expansion and the rapid uptake of its talabat pro loyalty programme across GCC and non-GCC markets.
The Dubai-headquartered delivery platform posted a 32 per cent yearon-year rise in gross merchandise value (GMV) to USD 2.4 billion for the quarter, with revenue up 35pc to USD 982 million. Adjusted EBITDA rose 31pc to USD 166m, maintaining a margin of 6.8pc, while net income climbed 33pc to USD 119m, or 4.9pc of GMV.
Citing continued momentum in customer acquisition and order frequency, the company lifted its GMV growth target for the year to 27-29pc, up from 17-18pc. Revenue growth is now projected at 29-32pc, compared with an earlier 18-20pc. Adjusted EBITDA margin is expected at 6.5pc, net income margin at 5pc, and adjusted free cash flow at 6pc.
Talabat credited its performance to both core GCC markets – including Bahrain, Kuwait, UAE, Qatar and Oman – and faster growth from Egypt, Jordan and Iraq. The UAE remained its largest market, while Kuwait delivered over 20pc growth for both the quarter and first half.
The company also reported robust performance in its Food vertical and faster gains in its Grocery & Retail segment, supported by a higher share of subscription and tMart revenues. The GCC accounted for 83pc of GMV in Q2, with non-GCC markets making up the remaining 17pc.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Tribune
10 hours ago
- Daily Tribune
Profits, Backlogs Boost UAE Developers
TDT | Manama Emaar Properties and Aldar Properties have reported robust first-half 2025 results, reinforcing the UAE real estate sector's appeal to investors amid rising sales, record backlogs and steady dividends. Dubai's Emaar posted a 34 per cent increase in net profit to AED 10.4 billion for the period, with sales jumping 46 per cent and its backlog reaching AED 146.3bn. Abu Dhabi's Aldar saw net profit rise 24pc to AED 4.1bn, revenue surge 42pc, and backlog climb to AED 62.3bn. Both companies' shares have advanced this year, with Emaar up 15pc and Aldar up 29pc, while maintaining dividend payouts that market watchers say are competitive. The figures come against a backdrop of more than 96,000 property transactions worth AED 322bn in the UAE during the first half of 2025. Luxury momentum The luxury segment remains buoyant, exemplified by Aldar's record AED 400m sale of a mansion at Faya Al Saadiyat, the most expensive residential property ever sold in Abu Dhabi. This, alongside continued demand for off-plan properties, underscores the strength of the upper-end market. A recent eToro survey found that 52pc of UAE retail investors see real estate and construction as the most promising sectors over the next 12 months, further highlighting the sector's role as a preferred investment choice.
Daily Tribune
10 hours ago
- Daily Tribune
Efficiency Push Powers Profits
TDT| Manama A sharp improvement in efficiency has helped Al Salam Bank deliver record profits for the first half of 2025, strengthening its position among Bahrain's fastest-growing lenders. The cost-to-income ratio fell from 49.9% to 45.3% in just one year, underscoring the bank's drive to get more value out of every dinar spent. Efficiency push pays off Net profits attributable to shareholders climbed 30.9% to USD 98.2 million for the six months to June 30, up from USD 75 million a year earlier. Return on equity rose to 16.9% from 15.6%, while earnings per share increased 29.0% to USD 31.8 cents. The bank credited its core banking growth and a series of optimisation initiatives for the results. The efficiency gains came alongside balance sheet growth. Total assets rose 10.8% to USD 20.76 billion, with financing assets up 8.3% to USD 10.52 billion and customer deposits growing 7.1% to USD 14.07 billion since the end of 2024. Capital strength supports growth Shareholders' equity expanded by 11.7% to USD 1.07 billion, bolstered by the record profit and a USD 450 million Additional Tier 1 capital issuance. This pushed the capital adequacy ratio to 25.2% as of June 30, compared with 24.8% last year. H.E. Shaikh Khalid bin Mustahail Al Mashani, Chairman of Al Salam Bank, said the ability to sustain growth despite volatile global markets was a defining strength, pointing to the role of strong fundamentals and disciplined risk management. Forward-looking strategy Group CEO Rafik Nayed said the efficiency drive was part of a broader plan to invest in digital innovation, expand regional capabilities through ASB Capital, and strengthen client relationships. He added that the bank would continue to focus on both banking and asset management for long-term, diversified growth. The bank's full, reviewed financial statements are available on the Bahrain Bourse and Dubai Financial Market websites.
Daily Tribune
10 hours ago
- Daily Tribune
Economic Resilience Hailed by MP
TDT | Manama Bahrain's first-quarter economic performance reflects a nation capable of achieving balanced and sustainable growth despite global headwinds, according to MP Dr Maryam Al Dhaen. She said the latest quarterly economic report underscored the strength and resilience of the national economy, crediting targeted policies with steering the Kingdom toward steady development. Policy impact Dr Al Dhaen pointed to a 2.7 per cent rise in gross domestic product, driven by a 2.2 per cent increase in non-oil activities, as evidence of the success of diversification efforts and the bolstering of productive and service sectors. She noted that non-oil activities contributed 84.8 per cent of GDP at constant prices, signalling a qualitative shift in Bahrain's economic structure. Tourism success The MP highlighted the accommodation and food services sector's 10.3 per cent growth as a sign of the tourism industry's vitality. She credited the expansion of hospitality infrastructure, broader guest offerings, and Bahrain's hosting of major international events for boosting hotel occupancy and attracting visitors from across the region and beyond. These outcomes, she said, confirmed the effectiveness of the 2022– 2026 tourism strategy in making the sector a key economic pillar and in creating quality jobs. Investor confidence Dr Al Dhaen also praised the performance of financial and insurance activities, along with gains in education and construction, as proof of a diversified base for sustained growth. She pointed to a 3.5 per cent increase in foreign direct investment, which reached BHD 17.1 billion, as a reflection of investor trust in Bahrain's business climate and the government's success in attracting capital and enhancing competitiveness.
