Just Eat Takeaway: to be profitable in H2 of this year

Amsterdam / NL. (tkwy) Just Eat Takeaway.com N.V., one of the world’s largest online food delivery marketplaces, expects to generate positive Adjusted Ebitda in the second half of 2022. Further improving profitability remains one of Just Eat Takeaway.com’s highest priorities. The Company is working on improvements to Revenue per Order, Delivery costs per Order and Overheads and Opex. As a result of the significant progress Just Eat Takeaway.com has already made, management now expects Just Eat Takeaway.com to turn profitable earlier than initially anticipated.

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Management expects Just Eat Takeaway.com to generate positive Adjusted Ebitda in the second half of 2022, an improvement compared with an Adjusted Ebitda of minus EUR 134 million in the first half of 2022. Due to uncertainty related to the impact of macroeconomic conditions and foreign exchange volatility on the business, management updates the guidance on GTV to grow by low-single digit year-on-year in 2022.

Outlook

The Management updates its guidance for FY-2022 as follows:

  • Positive Adjusted Ebitda in the second half of 2022 (previously FY 2022 Adjusted Ebitda margin in the range of minus 0.5 percent to minus 0.7 percent of GTV)
  • GTV to grow by low-single digit year-on-year in 2022 (previously mid-single digit)

Management expects the Company to maintain positive Adjusted Ebitda in FY-2023, and the long-term objectives for Just Eat Takeaway.com remain unchanged.

Just Eat Takeaway.com will shortly publish its Extraordinary General Meeting (EGM) convocation and explanatory shareholder circular regarding the sale of its iFood stake to Prosus. The Transaction is anticipated to be completed in the fourth quarter of 2022, provided the resolution has been adopted at the EGM (Photo: Just Eat Takeaway).

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