Amsterdam, 17 April 2024
Just Eat Takeaway.com Q1 2024
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 first quarter of 2024.
· UK and
Ireland accelerated GTV growth to 11% (7% constant currency) in Q1
2024
· Continued momentum in GTV growth in Northern Europe
· Constant currency GTV growth excluding North America of 3% in
Q1 2024, within the 2024 guidance range of 2% to 6%
year-on-year
· We
reiterate our guidance including adjusted
EBITDA of approximately €450 million and positive free cash
flow1 before changes in working capital in
2024
Jitse Groen, CEO of Just Eat Takeaway.com said:
"Just Eat
Takeaway.com started the year well, with the acceleration of GTV
growth in UK and Ireland 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."
● Under
the share buyback programmes announced in April and October 2023,
8.9% 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:
o Constant currency GTV growth excluding North America in the
range of 2% to 6% year-on-year
o Adjusted EBITDA of approximately €450 million
o Free
cash flow (before changes in working capital[1]) to continue to be positive in 2024 and
thereafter
● Long-term target of group adjusted EBITDA margin in excess of
5% 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.
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 699,000 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 Q1 2024 trading update at 10:30 am
CET on Wednesday 17 April 2024. 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 Q1 2024 trading update at 8:30 am CET on
Wednesday 17 April 2024. 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 Q1 2024
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.