Wolt in Greece recorded strong revenue growth last year, but also losses stemming from tax assessments for previous financial years. The company increased its operating profitability, but ended the year with negative equity.Wolt Technologies Greece increased its turnover by 34.7% to €133.7m, while operating profit almost doubled, reaching €1.52m. Profit before tax stood at €1.27m, compared with €650,000.
However, the company reported a net loss of €1.97m, compared with a profit of €190,000 in 2024, after incurring additional taxes, fines and surcharges totalling €2.48m following tax audits for 2021 and 2022. Of this amount, €2.02m related to income tax and €463,000 to VAT differences and related charges.
The assessments reversed the final picture on profitability and pushed equity into negative territory, at €1.09m, from positive equity of €883,000 at the end of 2024. Management says it will convene a general meeting to take measures to restore the company’s capital position.
It also notes that the parent company has expressed its intention to provide financial support if needed, stressing that operating activities remain profitable. Wolt’s Greek subsidiary is wholly owned by Finland’s Wolt Oy and is included in the consolidated financial statements of US-based DoorDash.
The average number of employees increased to 559, from 430 in 2024, while the network of delivery partners expanded significantly, reaching 21,890, up from 13,040.
Despite the losses, liquidity improved, with net cash from operating activities rising to €5.56m from €2.86m and cash reserves reaching €11m. The company also reduced its intercompany borrowing by €2m, bringing its liabilities to Wolt Oy down to €7m.
Meanwhile, a €2m capital increase for subsidiary Wolt Market Greece was approved in 2026, bringing its total capital to €7.01m.