TIDMJET
RNS Number : 5068Q
Just Eat Takeaway.com N.V.
18 October 2023
Amsterdam, 18 October 2023
Just Eat Takeaway.com Q3 2023 Trading Update
Just Eat Takeaway.com N.V. (LSE: JET, AMS: TKWY), hereinafter
the "Company", or together with its group companies "Just Eat
Takeaway.com", one of the world's largest online food delivery
marketplaces, hereby issues a trading update for the third quarter
of 2023.
-- Company excluding North America returned to GTV growth in Q3 2023
-- GTV growth in Northern Europe and UK and Ireland increased to +6% and +4% respectively
-- We upgrade 2023 Adjusted EBITDA guidance to approximately EUR310 million
-- We revise GTV guidance to constant currency growth of approximately -4% in 2023
-- We upgrade free cash flow[1] guidance to approx. break-even
in H2 2023 and positive thereafter
-- We are launching a new share buyback programme of up to EUR150 million
Jitse Groen, CEO of Just Eat Takeaway.com said: " The majority
of our business has returned to GTV growth in the third quarter
with particular strong momentum in Northern Europe and the UK and
Ireland segments. Within the UK and Ireland we continue to invest
significantly whilst at the same time increasing profitability.
Although the recovery of North America is on a slower trajectory,
we are satisfied that this segment too is rapidly becoming cash
flow neutral. As a result, we are in a position to upgrade both our
Adjusted EBITDA and cash flow guidance and now expect to be
approximately cash flow break-even in the second half of 2023 and
positive thereafter. "
Outlook
-- Constant currency GTV growth to be approximately -4%
year-on-year in 2023 (previously reported GTV growth to be in a
range of -4% to +2% year-on-year in 2023).
-- Management upgraded the Adjusted EBITDA guidance and now
expects to deliver a positive Adjusted EBITDA of approximately
EUR310 million in 2023 (previously approximately EUR275 million in
2023).
-- Free cash flow (before changes in working capital) expected
to be approximately break-even in H2 2023 and positive thereafter
(previously free cash flow (before changes in working capital) to
turn positive in mid-2024).
-- The long-term objectives for Just Eat Takeaway.com remain unchanged.
-- 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.
Just Eat Takeaway.com
Jitse Groen, CEO
Brent Wissink, CFO
Joerg Gerbig, COO
Andrew Kenny, CCO
Investors:
Joris Wilton
E: IR@justeattakeaway.com
Media:
E: press@justeattakeaway.com
For more information, please visit our corporate website:
https://www.justeattakeaway.com/
About Just Eat Takeaway.com
Just Eat Takeaway.com (LSE: JET, AMS: TKWY) is one of the
world's leading global online food delivery companies.
Headquartered in Amsterdam, the Company is focused on connecting
consumers and Partners through its platforms. With 679,000
connected Partners, Just Eat Takeaway.com offers consumers a wide
variety of choices from restaurants to retail.
Just Eat Takeaway.com has rapidly grown to become a leading
online food delivery marketplace with operations in Australia,
Austria, Belgium, Bulgaria, Canada, Denmark, France, Germany,
Ireland, Israel, Italy, Luxembourg, New Zealand, Poland, Slovakia,
Spain, Switzerland, the Netherlands, the United Kingdom and the
United States.
Most recent information is available on our corporate website
and follow us on LinkedIn and X .
Analyst and investor conference call and audio webcast
Jitse Groen, Brent Wissink, Joerg Gerbig and Andrew Kenny will
host an analyst and investor conference call to discuss the Q3 2023
trading update at 10:30 am CET on Wednesday 18 October 2023.
Members of the investor community can follow the audio webcast on
https://www.justeattakeaway.com/investors/results-and-reports/
.
Media and wires call
Jitse Groen will host a media and wires call to discuss the Q3
2023 trading update at 8:30 am CET on Wednesday 18 October 2023.
Members of the press can join the conference call at +31 (0)20 708
5073 or +44 (0)33 0551 0200.
Additional information on https://justeattakeaway.com
-- Just Eat Takeaway.com Analyst Presentation Q3 2023
Market Abuse Regulation
This press release contains inside information (i) as meant in
clause 7(1) of the Market Abuse Regulation and (ii) in terms of
Article 7(1) of the Market Abuse Regulation as it forms part of UK
law pursuant to the European Union (Withdrawal) Act 2018.
Unaudited figures
All figures in this document are unaudited.
Disclaimer
Statements included in this press release that are not
historical facts (including any statements concerning investment
objectives, other plans and objectives of management for future
operations or economic performance, or assumptions or forecasts
related thereto) are, or may be deemed to be, forward-looking
statements, including "forward-looking statements". These
forward-looking statements may be identified by the use of
forward-looking terminology, including the terms "anticipates",
"expects", "intends", "may", or "will" or, in each case, their
negative or other variations or comparable terminology, or, by
discussions of strategy, plans, objectives, goals, future events or
intentions. Forward-looking statements may and often do differ
materially from actual results. Any forward-looking statements
reflect the Company's current view with respect to future events
and are subject to risks relating to future events and other risks,
uncertainties and assumptions relating to the Company's business,
results of operations, financial position, liquidity, prospects,
growth or strategies. Past performance is no guide to future
performance and persons needing advice should consult an
independent financial adviser. Forward-looking statements reflect
knowledge and information available at, and speak only as of, the
date they are made, and the Company expressly disclaims any
obligation or undertaking to update, review or revise any
forward-looking statement contained in this press release. Readers
are cautioned not to place undue reliance on such forward-looking
statements.
[1] Free cash flow before changes in working capital
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
TSTEASEPFEFDFEA
(END) Dow Jones Newswires
October 18, 2023 02:00 ET (06:00 GMT)
Just Eat Takeaway.com N.v (LSE:JET)
Historical Stock Chart
From Apr 2024 to May 2024
Just Eat Takeaway.com N.v (LSE:JET)
Historical Stock Chart
From May 2023 to May 2024