Latest news with #TalabatHolding
Zawya
12-05-2025
- Business
- Zawya
Dubai's Talabat makes Q1 net profit of $103mln, beats estimate
Dubai-listed Talabat Holding Plc, made a Q1 2025 net profit of $103.3 million on the back of growth in both the GCC markets as well as in Jordan, Egypt and Iraq. The result was well above analysts mean estimate of $98.6 million, according to data provider LSEG. Revenue came in at $833.6 million with gross merchandise value (GMV) rising 30% on year to $2.1 billion. Talabat, one of the largest food ordering businesses in the Middle East, debuted on the Dubai Financial Market (DFM) in December last year. (Writing by Brinda Darasha; editing by Seban Scaria)
Yemen Online
07-03-2025
- Business
- Yemen Online
UAE stocks decline over tariff uncertainty
Stock markets in United Arab Emirates closed lower on Friday, in line with global equities as the uncertainty around U.S. tariff policy creates nervousness among investors. European stocks (.STOXX), opens new tab fell 0.7%, on track for a weekly loss after 10 straight weekly gains, while Japan's Nikkei (.N225), opens new tab lost 2.2% to a six-month low. On Thursday, U.S. President Donald Trump suspended the 25% tariffs he had imposed on most goods from Canada and Mexico until April 2, although steel and aluminium tariffs would still go into effect on March 12 as scheduled. Dubai's main market (.DFMGI), opens new tab dropped 1%, its biggest intraday loss in three months, as a majority of stocks were trading in negative territory. Dubai's biggest Islamic lender, Dubai Islamic Bank ( opens new tab declined 1.6%, while business park operator Tecom Group ( opens new tab lost 3%. Talabat Holding ( opens new tab, one of the largest food ordering businesses in the Middle East, reported on Thursday that it had completed the acquisition of 100% of instashop's share capital from Delivery Hero SE. Talabat shares closed 0.7% down. Dubai's index recorded 1.8% losses, its biggest weekly loss since early October last year, while Abu Dhabi logged 1.2% decline on a weekly basis, according to LSEG data. Abu Dhabi's benchmark index (.FTFADGI), opens new tab slipped 0.9%, hitting its 8-week low, with biggest developer Aldar Properties ( opens new tab losing 2.6% and IHC-owned investment firm Multiply Group ( opens new tab dipping 3.4%. Among the losers, UAE's top lenders First Abu Dhabi Bank ( opens new tab and Abu Dhabi Commercial Bank ( opens new tab fell 0.8% and 7.4% respectively. Abu Dhabi's index saw a significant decline, continuing its downward movement due to the ongoing trade tensions and the general decline in oil prices experienced during the week, said Rania Gule, Senior Market Analyst at – MENA. NMDC Energy ( opens new tab gained 0.7% after company's shareholders approved a full-year dividend of AED 0.14 per share. Oil prices - a key contributor to the Gulf's economies - drifted higher on Friday, with Brent crude rising 1.7% to $70.61 a barrel by 1135 GMT.
Zawya
07-03-2025
- Business
- Zawya
Mideast Stocks: UAE stocks decline over tariff uncertainty
Stock markets in United Arab Emirates closed lower on Friday, in line with global equities as the uncertainty around U.S. tariff policy creates nervousness among investors. European stocks fell 0.7%, on track for a weekly loss after 10 straight weekly gains, while Japan's Nikkei lost 2.2% to a six-month low. On Thursday, U.S. President Donald Trump suspended the 25% tariffs he had imposed on most goods from Canada and Mexico until April 2, although steel and aluminium tariffs would still go into effect on March 12 as scheduled. Dubai's main market dropped 1%, its biggest intraday loss in three months, as a majority of stocks were trading in negative territory. Dubai's biggest Islamic lender, Dubai Islamic Bank declined 1.6%, while business park operator Tecom Group lost 3%. Talabat Holding, one of the largest food ordering businesses in the Middle East, reported on Thursday that it had completed the acquisition of 100% of instashop's share capital from Delivery Hero SE. Talabat shares closed 0.7% down. Dubai's index recorded 1.8% losses, its biggest weekly loss since early October last year, while Abu Dhabi logged 1.2% decline on a weekly basis, according to LSEG data. Abu Dhabi's benchmark index slipped 0.9%, hitting its 8-week low, with biggest developer Aldar Properties losing 2.6% and IHC-owned investment firm Multiply Group dipping 3.4%. Among the losers, UAE's top lenders First Abu Dhabi Bank and Abu Dhabi Commercial Bank fell 0.8% and 7.4% respectively. Abu Dhabi's index saw a significant decline, continuing its downward movement due to the ongoing trade tensions and the general decline in oil prices experienced during the week, said Rania Gule, Senior Market Analyst at – MENA. NMDC Energy gained 0.7% after company's shareholders approved a full-year dividend of AED 0.14 per share. Oil prices - a key contributor to the Gulf's economies - drifted higher on Friday, with Brent crude rising 1.7% to $70.61 a barrel by 1135 GMT. ABU DHABI down 0.9% to 9,448 points DUBAI fell 1% to 5,223 points ($1 = 3.6725 UAE dirham)
ARN News Center
06-03-2025
- Business
- ARN News Center
Talabat acquires Instashop for $32 million
UAE-based delivery platform Talabat has acquired Instashop for $32 million (AED 117 million), an online grocery delivery marketplace, it was announced on Thursday. Talabat Holding acquired 100 per cent of Instashop's share capital from Delivery Hero SE, increasing its pro forma Grocery and Retail GMV for 2024 surpasses to more than $2.5 billion (AED 9 billion). In 2024, instashop achieved strong growth, reaching $631 million (AED 2.3 trillion) in GMV, a 16 per cent increase from $545 million (AED 2 trillion) in the prior year and equivalent to eight per cent of Talabat's 2024 GMV, with positive and improving EBITDA margins. This consistent performance highlights Instashop's market strength and aligns with Talabat's strategy for accelerated expansion into Grocery and Retail. The Chief Executive Officer of talabat,Tomaso Rodriguez, said: 'By integrating Instashop's innovative platform into our operations, we aim to create a more seamless and efficient delivery experience for our customers across the UAE and Egypt whilst also driving further product and technology synergies across our business. Together, we will unlock new opportunities for growth and innovation, setting a new standard in the online grocery and retail sector." The Chief Executive Officer of Instashop, Nikola Cabarkapa, commented: 'Joining forces with talabat marks an exciting new chapter for Instashop. We have always been dedicated to connecting our users with their favorite local stores, and now, with Talabat's support, we can amplify our impact even further. "The partnership will enable us to leverage Talabat's extensive network and operational expertise, allowing us to enhance our service delivery and continue our mission of providing exceptional convenience to our customers. We are excited about the significant customer and partner benefits this collaboration will bring and look forward to a successful journey ahead." Instashop will continue to operate as an independent brand within Talabat's Grocery and Retail vertical.
Arabian Business
13-02-2025
- Business
- Arabian Business
Talabat over-delivers on guidance as net income grows 64% to $346mn
Delivery platform Talabat Holding, announced its first set of unaudited preliminary pro forma financial results for the full year 2024 following the initial public offering in December last year, beating guidance on some of the key numbers and delivering a record Gross Merchandise Value (GMV) of $7.4 billion. For FY 2024, management revenue (without deducting vouchers and discounts issued to customers and reconciliation effects) grew 32 per cent, exceeding the top end of guidance, to reach $3 billion for the year. Adjusted EBITDA also beat the guidance, as it grew 55 per cent to $497 million, or 6.7 per cent of GMV (the total value of goods sold through the platform). Talabat GMV hits record GMV grew 23 per cent for the year compared to 2023, in line with guidance, and reached a record $7.4 billion. The growth was driven by stronger consumer demand through new customer acquisition and increased order frequency. Monthly active customers served increased 25 per cent over the previous year, while the average order frequency of active customers increased 8 per cent. Net income jumped 64 per cent to $346 million or 4.7 per cent of GMV, which was in line with expectations. On a normalised basis, adjusting for material non-recurring items to allow for a like-for-like comparison, net income grew 53 per cent to $393 million or 5.3 per cent of GMV. GMV growth and margin expansion were across both geographical segments – GCC (comprising operations in the UAE, Kuwait, Qatar, Bahrain and Oman) and non-GCC (operations in Egypt, Jordan and Iraq). GCC GMV grew to $6.3 billion, up 20 per cent and representing 85 per cent of total GMV. Non-GCC GMV grew at a faster rate of 42 per cent to $1.1 billion, making up for the remaining 15 per cent of total GMV. Food GMV grew 16 per cent to $5.5 billion, but the pace was outstripped by G&R (grocery and retail) GMV, which was up 47 per cent to $1.9 billion. Tomaso Rodriguez, Chief Executive Officer of Talabat, commented: '2024 was a truly landmark year for Talabat. We delivered exceptional financial results, achieving a record $7.4 billion in GMV and exceeding both our revenue and Adjusted EBITDA guidance. 'Our strong performance in the last quarter of the year supports an increase in the upcoming dividend payment amount to $110 million. These achievements underscore the strength of our growth strategy and the dedication of our teams across all eight countries in which we operate. 'Looking ahead to 2025, we are confident in our reiterated guidance and our ability to continue driving sustainable growth and profitability. We remain focused on expanding our market leadership, enhancing our technology platform, and strengthening our partnerships across the ecosystem.' Talabat reiterated its guidance for the full year 2025. GMV is projected to grow 17-18 per cent year-on-year, and revenue is expected to grow 18-20 per cent. The company expects adjusted EBITDA margin to remain in the 6.5-7.0 per cent and net income margin to expand into the 5-5.5 per cent range.
