Deliveroo Ireland revenues surged to €43m last year

Food delivery firm's 2021 performance was the second year of the pandemic, which helped drive its rapid growth

Deliveroo directors said 'the culture of eating out will likely not revert to the way it was pre-Covid for some time'.

Revenues at the Irish arm of takeaway food delivery firm Deliveroo last year climbed again last year — the second year of the pandemic.        

Revenues at Deliveroo Ireland Ltd reached €43.2m, up by 64% from the previous year, new accounts show.

The 2021 performance was the second year of the pandemic, which helped drive its rapid growth.

Deliveroo Ireland revenues had also surged in 2020, by 91% to €26.3m. 

The directors of the firm said in the accounts that revenues rose “as a result of increased demand, the change in ordering behaviour and sales mix brought about the impact of Covid-19”.

The surge in revenues helped push its pre-tax profits up by 27% to €819,246, after taking into account a foreign exchange loss and its interest bill on the company's borrowings.  

Gross profits increased by 75% to €14.74m, “reflecting both increased demand and the scalable unit economics of the business model”.

The directors also said “the culture of eating out will likely not revert to the way it was pre-Covid for some time”. 

The Irish company directly employs 10 people in sales, marketing, and operations, with staff costs amounting last year to almost €626,990. It also posted sales costs of €28.4m and administration expenses of just over €5m.