Just Eat Takeaway.com: Q1-2024 Trading Update

Amsterdam / NL. (tkwy) Just Eat Takeaway.com N.V., hereafter the «Company» or together with its subsidiaries «Just Eat Takeaway.com», one of the world’s leading online food delivery companies, hereby issues a trading update for the first quarter of 2024.

CEO and founder Jitse Groen: «The Group started the year well, with the acceleration of GTV growth in UK and IE and our continued momentum in Northern Europe in Q1-2024. We are excited that the investments in our business are paying off, and we are looking forward to the rest of the year.»

(Table: Just Eat Takeaway.com)

• Under the share buyback programmes announced in April and October 2023, 8.9 percent of the issued shares were repurchased as per 12 April 2024.
• Management decided to discontinue all operations in New Zealand in the coming weeks. The financial impact is immaterial.

Outlook

• The Management Board reiterates the following guidance for 2024:
  • Constant currency GTV growth excluding North America in the range of 2 percent to 6 percent year-on-year
  • Adjusted Ebitda of approximately EUR 450 million
  • Free cash flow (before changes in working capital) to continue to be positive in 2024 and thereafter
• Long-term target of group adjusted Ebitda margin in excess of 5 percent of GTV.
• Management, together with its advisers, continues to actively explore the partial or full sale of Grubhub. There can be no certainty that any such strategic actions will be agreed or what the timing of such agreements will be. Further announcements will be made as and when appropriate.