Talabat Holding reports strong H1 2025 growth with GMV up 32%, revised full-year outlook

MENA – Talabat Holding plc, the leading on-demand online ordering and delivery platform in the MENA region, announced its pro forma financial results for the three-month and six-month periods ended June 30, 2025.

The company reported robust growth across key financial metrics, driven by expanding customer demand and market penetration.

Gross Merchandise Value (GMV) increased 32% year-over-year to reach US$2.4 billion for the period.

On a constant currency basis, GMV grew slightly faster at 33%, underscoring strong volume momentum across talabat’s diverse markets.

Revenue rose 35% to US$982 million, while constant currency revenue growth registered 36%, reflecting healthy pricing power and mix improvements.

Adjusted EBITDA grew 31% to US$166 million, representing 6.8% of GMV and demonstrating operational leverage as the company scales.

Net income increased 33% to US$119 million, or 4.9% of GMV.

On a normalized basis, adjusting for material non-recurring items for like-for-like comparison, net income grew 25% to US$116 million or 4.8% of GMV.

The company’s impressive financial performance was supported by broad-based growth in both GCC markets, including the UAE, Kuwait, Qatar, Bahrain, and Oman, and non-GCC markets like Egypt, Jordan, and Iraq.

Both the Food vertical and the Grocery & Retail (“G&R”) category contributed strongly to demand growth.

This momentum was further boosted by accelerated customer acquisition and increased average order frequency.

Talabat also benefited from the unwinding of Ramadan’s impact observed in the first quarter, comparing favorably with the prior year. This contributed to stronger sequential growth and improved profitability in Q2 and the first half of 2025 overall.

Looking ahead, talabat revised its full-year 2025 guidance upwards, reflecting confidence in sustained growth and profitability.

The company now expects GMV growth in the range of 27% to 29% on a constant currency basis, up from its previous forecast of 17% to 18%.

Revenue growth is anticipated between 29% and 32%, compared to the earlier 18% to 20%.

Adjusted EBITDA margin guidance remains steady at approximately 6.5%.

Net income margin is forecast at 5.0%, in line with prior expectations, while Adjusted Free Cash Flow is projected to be 6.0%, slightly tightening from the prior 6.0-6.5% range.

Talabat’s strong first half performance and upward revisions affirm its market leadership in MENA’s competitive delivery space, driven by technology innovation, market expansion, and evolving consumer behavior around digital ordering.

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