(ABM FN-Dow Jones) Just Eat Takeaway said it made significant progress in achieving profitability in the first half of this year. This was shown on Wednesday by the figures of the meal delivery company.
In the quarter, Just Eat Takeaway posted positive adjusted EBITDA in Northern Europe, North America, UK & Ireland. These regions account for 90 percent of the gross transaction value.
“Profitability is approaching and we expect adjusted EBITDA to pick up further in the second half of this year,” said CEO Jitse Groen. The CEO expects to be able to record positive adjusted EBITDA in 2023 at group level.
In the past six months, Just Eat Takeaway processed 509.4 million orders compared to 546.8 million a year earlier, a decrease of 7 percent. The gross transaction value remained roughly the same at 14.2 million euros.
Turnover increased by 7 percent to 2.8 billion euros, or by 1 percent at constant exchange rates.
Adjusted EBITDA was 134 million euros negative, compared to a loss of 189 million euros a year earlier. The margin was 0.9 percent negative in the past six months. In Northern Europe, Just Eat Takeaway has been profitable for some time.
The analyst consensus that Just Eat compiled itself aims for a gross transaction value in the first six months of 14.4 billion euros. That would generate revenue of 2.8 billion euros, according to the analysts, with an adjusted EBITDA of 121 million euros negative and a margin of 0.9 percent negative.
Just Eat Takeaway also wants to reappoint Jörg Gerbig as COO. At the time, an investigation was underway into any misconduct by Gerbig following an official complaint. According to the meal deliverer, an external investigation showed that Gerbig can continue as operational director.
Outlook
The outlook for the whole of this year was maintained. The gross transaction value will increase this year by approximately 5 percent on an annual basis. The meal delivery company also expects a negative adjusted EBITDA margin of 0.5 to 0.7 percent. The consensus expects a minus of 0.6 percent.
Furthermore, Just Eat Takeaway said it was still looking at a partial or full sale of Grubhub. The meal delivery company also wants to get rid of its 33 percent stake in iFood, but only if the price is right.
Bron: ABM Financial News
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From Beursplein 5, the editors of ABM Financial News keep a close eye on developments on the stock exchanges, and the Amsterdam stock exchange in particular. The information in this column is not intended as professional investment advice or as a recommendation to make certain investments.
