Latest news with #TalabatHoldingplc
Zawya
06-03-2025
- Business
- Zawya
Talabat completes acquisition of instashop, a leading grocery delivery e-marketplace in MENA
Dubai, UAE: Talabat Holding plc ('talabat' or the 'Company'), the leading on-demand online ordering and delivery platform in the MENA region, today announces the successful acquisition of InstaShop Ltd ('instashop'), one of the leading online grocery delivery marketplaces in MENA. Transaction highlights: ● talabat has completed the acquisition of 100% of instashop's share capital from Delivery Hero SE, effective and consolidated in talabat's financial accounts from 25 February 2025 ● With this acquisition, instashop becomes a wholly-owned subsidiary of talabat, strengthening its Grocery and Retail offering and expanding its partner network across the MENA region ● Following the acquisition, talabat's pro forma Grocery and Retail GMV for 2024 surpasses USD 2.5 billion, reinforcing its market leadership in the region ● This acquisition promises to unlock operational and technology synergies across both businesses, with integration activities already underway ● The sale and purchase agreement, first announced in September 2024, was fully funded through talabat's internal cash reserves, with a total consideration of USD 32 million ● Instashop will continue to operate as an independent brand within talabat's Grocery and Retail vertical ● talabat plays a leading role in shaping the future of Grocery and Retail in MENA with innovative tech, multi-vertical expertise, and strong local partnerships—helping partners grow and making shopping easier for customers Founded in June 2015 and headquartered in Dubai, instashop is a leading online marketplace that seamlessly connects users with vendors, streamlining the purchase process and providing the necessary logistical capabilities to meet fast delivery expectations of customers. Specialising in the grocery and retail sectors across the UAE and Egypt, instashop offers a wide range of products, including groceries, pharmacy items, beauty essentials, and other personal care products. In 2024, instashop achieved strong growth, reaching USD 631 million in GMV, a 16% increase from USD 545 million in the prior year and equivalent to 8% 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 acquisition of instashop, which will continue to operate as an independent brand within talabat's Grocery and Retail vertical, enables both platforms to collaborate and share insights to enhance customer experience and partner tools. This partnership offers cross-listing opportunities for partners, broadening their reach, while joint business planning unlocks new growth potential. Tomaso Rodriguez, Chief Executive Officer of talabat, commented: 'We are thrilled to welcome instashop into the talabat family. The acquisition supports and complements our strategy to grow our Grocery and Retail offering and is a testament to our commitment to enhancing customer experience and providing customers with even greater choice and convenience. 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.' Nikola Cabarkapa, Chief Executive Officer of instashop, 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. This 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.' The transaction will unlock substantial operational synergies for talabat including the expansion of its partner network through cross-listing opportunities, optimized operations via fleet synergies and shared resources, as well as improved product and technology integration. For investor enquiries, please contact: ir@ For media enquiries, please contact: press@ and talabat@ About talabat talabat is the leading on-demand delivery platform in the Middle East and North Africa (MENA) region, offering customers a convenient and personalized way to order food, groceries, and other convenience products from a wide selection of restaurants and retailers. Founded in Kuwait in 2004, talabat has expanded its operations to the United Arab Emirates, Oman, Qatar, Bahrain, Jordan, Iraq, and Egypt, serving over six and a half million active customers as of December 2024. talabat is headquartered in Dubai, the United Arab Emirates and in December 2024, successfully completed its initial public offering on the Dubai Financial Market (DFM). As a subsidiary of Delivery Hero SE, talabat leverages global expertise to strengthen its market position and drive innovation in the on-demand delivery sector, focusing on expanding its product offerings and increasing market penetration across its operating regions. With a robust network of over thousands of partners and riders, talabat continues to solidify its leadership in the MENA region's on-demand delivery market, connecting customers, partners, and riders through its advanced technology platform.
Zawya
13-02-2025
- Business
- Zawya
Talabat reports strong results for 2024, delivering on guidance
Revenue and Adjusted EBITDA growth exceeded guidance Net income grew 64% to reach USD 346 million for full year 2024 2025 guidance reiterated with GMV projected to grow 17-18% and net income margin to expand into the 5.0-5.5% range Dubai, UAE: Talabat Holding plc ('talabat' or the 'Company'), the leading on-demand online ordering and delivery platform in the MENA region, today announces its unaudited preliminary pro forma financial results for the three-month and twelve-month periods ended 31 December 2024. This is talabat's first set of financial results following the successful public offering completed in December 2024, which resulted in the largest global technology IPO of the year and the first ever technology listing on the Dubai Financial Market (DFM). GMV grew 23% for the year versus the prior year, in line with guidance, to reach a record USD 7.4 billion. Revenue grew 32%, exceeding the top end of guidance, to reach USD 3.0 billion for the year. Adjusted EBITDA grew 55% to almost half a billion US dollars, or 6.7% of GMV, also exceeding guidance, and net income grew 64% to USD 346 million or 4.7% of GMV, 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% to USD 393 million or 5.3% of GMV. Underpinning this strong performance was GMV growth and margin expansion across both geographical segments, GCC (comprising our operations in the UAE, Kuwait, Qatar, Bahrain and Oman) and non-GCC (comprising our operations in Egypt, Jordan and Iraq). GMV growth was driven by stronger consumer demand through new customer acquisition as well as increased order frequency. Monthly active customers served by talabat increased 25% versus the prior year, whilst the average order frequency of active customers increased 8% year-on-year. Margin expansion was driven by stronger monetization across non-commission revenue, delivery & service fees, and our tMart business, as well as operating efficiencies. Highlights for the full year include: GMV of USD 7.4 billion, up 23% year-on-year with strong growth across both the GCC and non-GCC segments, and across both the Food and Grocery & Retail ('G&R') [3] verticals. GCC GMV grew to USD 6.3 billion, up 20% year-on-year, representing 85% of total GMV. non-GCC GMV grew faster to USD 1.1 billion, up 42% year-on-year, representing 15% of total GMV. Food GMV grew to USD 5.5 billion, up 16% year-on-year, representing 75% of total GMV. G&R GMV grew faster to USD 1.9 billion, up 47% year-on-year, representing 25% of total GMV. Management Revenue of USD 3.0 billion, up 32% year-on-year, exceeding the top end of the guidance range. This represents a GMV-to-revenue conversion ratio of 40% (prior year 37%). Adjusted EBITDA of USD 497 million, up 55% year-on-year, exceeding guidance, and equivalent to 6.7% of GMV (prior year 5.3%). Net income of USD 346 million, up 64% year-on-year, in line with guidance, and equivalent to 4.7% of GMV (prior year 3.5%). Adjusted Net Income of USD 393 million, up 53% year-on-year and equivalent to 5.3% of GMV (prior year 4.2%). Strong cash generation with Adjusted Free Cash Flow of USD 462 million, up 54% year-on-year, and equivalent to 6.2% of GMV (prior year 5.0%) and a Cash Conversion Ratio [4] of 93% (prior year: 94%). Historically strong balance sheet with an improved cash position of USD 419 million and net cash position of USD 322 million. The Company continues to be well positioned to fund future growth, dividends and opportunistic acquisitions. Guidance for full year 2025 has been reiterated, with GMV projected to grow 17-18% year-on-year, revenue to grow 18-20% year-on-year, Adjusted EBITDA margin to remain in the 6.5-7.0% range, net income margin to expand into the 5.0-5.5% range and Adjusted Free Cash Flow margin to remain in the 6.0-6.5% range. On track to pay dividends of USD 110 million, reflecting an upward adjustment from the previously disclosed minimum dividend payment of USD 100 million, following the Company's strong fourth quarter performance and in line with its dividend policy. The final dividend amount remains subject to the Board of Director's recommendation and shareholders' approval at the upcoming Annual General Meeting to be held in April 2025. Tomaso Rodriguez, Chief Executive Officer of talabat, commented: '2024 was a truly landmark year for talabat. We delivered exceptional financial results, achieving a record USD 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 USD 110 million, in line with our dividend policy and subject to the Board of Directors' final recommendation and shareholder approval. These achievements underscore the strength of our growth strategy and the dedication of our teams across all eight countries in which we operate. 'We are also particularly proud of our successful IPO as the first technology listing on the Dubai Financial Market and the largest technology IPO in 2024 globally. 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.' Q4 & FY 2024 preliminary pro forma financial information (unaudited): GMV 2,044 1,623 26% 7,428 6,062 23% o/w GCC 1,724 1,394 24% 6,332 5,289 20% o/w non-GCC 320 229 40% 1,096 773 42% o/w Food 1,500 1,250 20% 5,542 4,779 16% o/w Grocery & Retail 544 373 46% 1,886 1,283 47% Management Revenue 824 625 32% 2,956 2,242 32% margin (% of GMV) 40% 39% 1.8ppt 40% 37% 2.8ppt o/w Commission fees 290 228 27% 1,062 847 25% o/w Subscription fee & Other Income 276 194 42% 952 663 44% o/w Delivery & Service Fees 191 148 29% 696 537 29% o/w Advertising and listing fees 67 55 22% 246 194 27% Revenue (IFRS) 801 606 32% 2,872 2,175 32% margin (% of GMV) 39% 37% 1.8ppt 39% 36% 2.8ppt Adjusted EBITDA 139 102 36% 497 321 55% margin (% of GMV) 6.8% 6.3% 0.5ppt 6.7% 5.3% 1.4ppt Net Profit 138 89 54% 346 212 64% margin (% of GMV) 6.7% 5.5% 1.2ppt 4.7% 3.5% 1.2ppt Adjusted Net Profit 122 99 22% 393 257 53% margin (% of GMV) 6.0% 6.1% -0.2ppt 5.3% 4.2% 1.0ppt Adjusted FCF 118 96 23% 462 301 54% margin (% of GMV) 5.8% 5.9% -0.2ppt 6.2% 5.0% 1.3ppt Cash Conversion Ratio 85% 94% -9.0ppt 93% 94% -0.6ppt The full set of disclosures today can be found within the Investor Relations section on talabat's website. Note: The unaudited preliminary financial information referenced in this press release has been prepared on a pro forma basis, as if the corporate restructuring that was carried out at the end of September 2024, ahead of talabat's Initial Public Offering ('IPO'), took place on 1 January 2023. This enables like-for-like comparability of the combined Company with prior year periods. These financials are prepared on the same basis as the financials in the International Offering Memorandum used for the IPO. -Ends- For investor enquiries, please contact: ir@ For media enquiries, please contact: press@ and talabat@ About talabat talabat is the the leading on-demand delivery platform in the Middle East and North Africa (MENA) region, offering customers a convenient and personalized way to order food, groceries, and other convenience products from a wide selection of restaurants and retailers. Founded in Kuwait in 2004, talabat has expanded its operations to the United Arab Emirates, Oman, Qatar, Bahrain, Jordan, Iraq, and Egypt, serving over six and a half million active customers as of December 2024. talabat is headquartered in Dubai, the United Arab Emirates and in December 2024, successfully completed its initial public offering on the Dubai Financial Market (DFM). As a subsidiary of Delivery Hero SE, talabat leverages global expertise to strengthen its market position and drive innovation in the on-demand delivery sector, focusing on expanding its product offerings and increasing market penetration across its operating regions. With a robust network of over thousands of partners and riders, talabat continues to solidify its leadership in the MENA region's on-demand delivery market, connecting customers, partners, and riders through its advanced technology platform. CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This announcement contains certain forward-looking statements with respect to the Company. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements often use words such as "anticipate", "target", "expect", "estimate", "intend", "plan", "will", "goal", "believe", "aim", "may", "would", "could" or "should" or other words of similar meaning or the negative thereof. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from those expressed or implied by these forward-looking statements. The Company does not accept any responsibility for the accuracy or fairness of forward-looking statements and expressly disclaims any obligation to update any such forward looking statement, except as required pursuant to applicable law and regulation. Many of the risks and uncertainties relating to forward-looking statements are beyond the Company's ability to control or estimate precisely, such as future market conditions and the behaviours of other market participants, and therefore undue reliance should not be placed on such statements. For further information regarding the Company's risk factors, please refer to the International Offering Memorandum used as part of the Company's initial public offering in December 2024, available on its corporate website using the link. The amount and payment of dividends by the Company is subject to consideration by the Board of Directors of the cash management requirements of the Company for operating expenses, interest expense, any anticipated capital expenditures, market conditions, the then current operating environment in its markets, and the Board of Directors' outlook for the business of the Company. In addition, any level or payment of dividends will depend on, among other things, future profits and the business plan of the Company, as determined at the discretion of the Board of Directors. Neither this announcement nor anything contained herein constitutes a financial promotion, or an invitation or inducement to acquire or sell securities in any jurisdiction. [1] Gross Merchandise Value, the total value of goods sold through the platform [2] Margins calculated as a percentage of GMV unless otherwise specified [3] G&R segment comprises our first party vendor model (tMart dark stores) and our third party vendors (local shops) [4] Cash Conversion Ratio is defined as Adjusted Free Cash Flow divided by Adjusted EBITDA
Observer
12-02-2025
- Business
- Observer
MENA region recorded 54 IPOs raising $12.6bn during 2024
MUSCAT: The Middle East and North African (MENA) market saw a total of 54 initial public offerings (IPOs) in 2024, raising $12.6 billion in total. When compared to 2023, last year recorded a 12.5 per cent increase in the number of IPOs and a 17.6 per cent rise in proceeds, according to the EY MENA IPO Eye Q4 2024 report. The year-on-year increase in proceeds for 2024 was impacted by a number of large-value IPOs such as Talabat Holding plc, OQ Exploration & Production and Lulu Retail Holdings PLC that were listed during the last quarter of the year. Brad Watson, EY MENA Strategy and Transactions Leader, commented: 'The year 2024 ended on a strong note with 54 IPOs in total, the highest in MENA over the past seven years. The region has been one of the busiest when compared to the global market. The momentum is expected to continue into 2025, with companies from various sectors announcing their intention to come to market. In addition, regional exchanges are actively working on initiatives to promote family-owned businesses and small to medium enterprises, aiming to strengthen the capital markets infrastructure and boost future liquidity. The market is also anticipating the Arena platform from the DFM, which is expected to launch in 2025.' During Q4 2024, 25 IPOs raised $7.9 billion, which represents a 32 per cent increase in number and a 59.4 per cent surge in proceeds when compared to Q4 2023. Talabat Holding plc, which listed on the Dubai Financial Market (DFM), raised the highest proceeds, contributing 25.8 per cent of the overall proceeds for Q4 2024. It was followed by OQ Exploration & Production, which listed on the Muscat Stock Exchange (MSX) and raised $2.0 billion - the largest IPO in Oman to date - and accounted for 25.3 per cent of the total quarterly proceeds. The Kingdom of Saudi Arabia (KSA) dominated the region's IPO activity with 17 out of the 25 listings in Q4 2024, with total proceeds of $1.2 billion. Five IPOs took place on the Tadawul Main Market with total proceeds of $1.1 billion. Arabian Mills for Food Products Company and United International Holding Company marked the highest proceeds at $0.3 billion each. The remaining 12 IPOs, raising $119 million in total, were listed on the Nomu – Parallel Market. In the United Arab Emirates (UAE), the Abu Dhabi Securities Exchange (ADX) welcomed two IPOs in Q4 2024 with US$2.0b in combined proceeds. Lulu Retail Holdings PLC raised $1.7 billion, and ADNH Catering PLC raised $235 million. The ADX also saw a direct listing of Mair Group. In Dubai, the DFM had one new listing in Q4, Talabat Holding plc in the consumer and technology sector, raising $2.0 billion. The outlook for MENA IPOs in 2025 remains positive, with 38 companies and 22 funds intending to list on the region's exchanges across a variety of sectors. Among the GCC countries, KSA remains the lead in listings with 27 companies in the pipeline, followed by the UAE with three, and Qatar with one.
Hi Dubai
11-02-2025
- Business
- Hi Dubai
MENA IPOs Hit $12.6 Billion in 2024, Marking a Record Year
The MENA region experienced a remarkable surge in IPO activity in 2024, with 54 IPOs raising $12.6 billion, according to the EY MENA IPO Eye Q4 2024 report. This reflects a 12.5% increase in the number of IPOs and a 17.6% rise in proceeds compared to 2023, positioning the region as a global leader in capital markets. Q4: A Record-Breaking Quarter The fourth quarter of 2024 was a standout, with 25 IPOs generating $7.9 billion, representing a 32% increase in listings and a 59.4% surge in proceeds compared to Q4 2023. Key IPOs in Q4 included: Talabat Holding plc (Dubai Financial Market) raised the highest proceeds, contributing 25.8% of Q4 funds . (Dubai Financial Market) raised the highest proceeds, contributing . OQ Exploration & Production (Oman) raised $2 billion, marking the largest IPO in Oman's history. (Oman) raised $2 billion, marking the largest IPO in Oman's history. Other notable listings included Lulu Retail Holdings and Morocco's CMGP. Saudi Arabia: Dominating the Region Saudi Arabia led the region with 17 IPOs in Q4, raising $1.2 billion, driven by: Arabian Mills for Food Products Company and United International Holding Company, each raising $300 million. The kingdom's IPOs spanned diverse sectors, including commercial services, materials, food and beverages, and healthcare. UAE: Strong IPO Performance and ESG Focus The UAE continued its momentum with four new IPOs in Q4, including: Lulu Retail Holdings PLC (ADX), raising $1.7 billion. (ADX), raising $1.7 billion. Talabat Holding plc, contributing $2 billion on the DFM. The UAE also introduced a law requiring businesses to report carbon emissions starting May 2025, encouraging sustainability and aligning IPO market dynamics with net-zero 2050 goals. 2025 Outlook: Sustained Growth Expected The MENA IPO market shows no signs of slowing. EY forecasts 38 companies and 22 funds will list in 2025, with Saudi Arabia leading the pipeline with 27 IPOs, followed by the UAE and Qatar. High-profile IPOs in 2025 may include Etihad Airways, Amanat Holdings, Panda Retail Company, and Riyad Capital. Building a Stronger Market MENA exchanges are focusing on: Promoting family-owned businesses and SMEs . and . Strengthening capital markets infrastructure . . Launching initiatives like the DFM's Arena platform to boost liquidity and attract investors. Brad Watson, EY MENA strategy and transactions leader, noted: '2024 marked the highest number of IPOs in MENA in seven years. With robust governance and sustainability initiatives, the region will continue to attract global investors and remain a key player in the IPO landscape.' The MENA IPO market's growth reflects the region's ability to innovate, adapt, and lead, setting the stage for another record-breaking year in 2025. News Source: Gulf Business
Gulf Business
11-02-2025
- Business
- Gulf Business
54 IPOs raised $12.6bn in 2024 in MENA region, shows report
Image: Getty Images The Middle East and North Africa (MENA) region saw a notable surge in initial public offerings (IPOs) in 2024, with 54 listings raising a total of $12.6bn, according to the EY MENA IPO Eye Q4 2024 report. This marks a 12.5 per cent increase in the number of IPOs and a 17.6 per cent rise in proceeds compared to the previous year. Q4 Surge: 32 per cent more IPOs, 59 per cent higher proceeds According to the The spike in proceeds was driven by high-value IPOs such as Talabat Holding plc, OQ Exploration & Production, and Lulu Retail Holdings, which listed during the final quarter of the year. Talabat, which went public on the Dubai Financial Market (DFM), raised the largest amount of proceeds in Q4, contributing 25.8 per cent of the total quarterly funds. The second-largest IPO came from OQ Exploration & Production, which raised $2bn in the largest-ever IPO in Oman. Together, these two listings accounted for nearly half of the total Q4 proceeds. Outside the GCC, Morocco's Compagnie Marocaine de goutte a goutte et de pompage (CMGP) and Egypt's United Bank also made their market debuts during Q4. Saudi Arabia leads the pack with 17 listings in Q4 Saudi Arabia continues to dominate the region's IPO activity. In Q4 2024, the kingdom accounted for 17 of the 25 IPOs, raising a total of $1.2bn. Of these, five listings took place on the Tadawul Main Market, collectively raising $1.1bn. The highest proceeds came from Arabian Mills for Food Products Company and United International Holding Company, each raising $300m. In total, IPO activity in Saudi Arabia was driven by a diverse range of sectors, including commercial and professional services (20 per cent), materials (12.5 per cent), food and beverages (10 per cent), and healthcare (10 per cent). UAE's robust performance and ESG focus The UAE saw strong IPO activity as well, with four new listings during Q4 2024. On the Abu Dhabi Securities Exchange (ADX), Lulu Retail Holdings PLC raised $1.7bn and ADNH Catering PLC raised $235m. Additionally, the DFM welcomed Talabat Holding plc, which raised $2bn, continuing the trend of high-value listings in the region. As the UAE moves toward its net-zero 2050 target, the country has also introduced a law requiring businesses to report carbon emissions, starting in May 2025. The law aims to encourage companies to adopt decarbonisation strategies, including renewable energy and carbon offsetting. This emphasis on sustainability is expected to play a key role in shaping IPO market dynamics as companies align with the UAE's environmental goals. Positive outlook for 2025 IPOs in MENA region Looking ahead, the MENA IPO market is poised for continued growth. EY's Gregory Hughes, IPO and transaction diligence leader, noted that Q4 2024 accounted for 46 per cent of the total IPO activity in the region for the year, underscoring the strong momentum. Saudi Arabia's Nomu Parallel Market remains a key driver, accounting for 50 per cent of Q4 listings. In 2025, 38 companies and 22 funds are expected to list across the region's exchanges. Among the GCC countries, Saudi Arabia leads with 27 companies in the pipeline, followed by the UAE with three and Qatar with one. Companies such as The MENA IPO market is expected to remain a key player globally as regional exchanges continue to innovate and attract investors with strong governance and sustainability initiatives. Brad Watson, EY MENA strategy and transactions leader, says: 'The year 2024 ended on a strong note with 54 IPOs in total, the highest in MENA over the past seven years. The region has been one of the busiest when compared to the global market. The momentum is expected to continue into 2025, with companies from various sectors announcing their intention to come to market. 'In addition, regional exchanges are actively working on initiatives to promote family-owned businesses and small to medium enterprises, aiming to strengthen the capital markets infrastructure and boost future liquidity. The market is also anticipating the Arena platform from the DFM, which is expected to launch in 2025.' Read:
