Amsterdam, 16 October 2024
Just Eat Takeaway.com Q3 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 third quarter of 2024.
· Further progress across our key strategic pillars
· Constant currency GTV growth excluding North America of 2% in
Q3 2024
· Improved exit rate following a slower July
· Guidance for 2024 reiterated
· We
have so far repurchased a combined €340 million worth of
shares
Jitse Groen, CEO of Just Eat Takeaway.com said:
"We made good
progress across our key strategic pillars, which we believe will
drive growth. Northern Europe and the UK and Ireland continued
their positive momentum, and these segments now represent circa 60%
of the Group's total orders. In line with our strategy to
diversify, several new partnerships were launched across
adjacencies like grocery, pharmacy and wellness in many of our
markets. Furthermore, cost and operational efficiencies have
allowed us to increase investments while maintaining our outlook.
We are well on track to deliver our guidance for the full
year."
● In the
first nine months of 2024, the constant currency GTV growth
excluding North America was 3% year-on-year, within the guided
range of 2% to 6% GTV growth. On reported basis, growth was 4%
year-on-year for the period.
● Continued momentum in Northern Europe and UK and Ireland
segments, representing circa 60% of Group
orders.
● Combined under the three share buyback
programmes launched in the past
18 months, we have so far repurchased €340
million worth of shares. The cancellation
of approximately 11 million shares previously held in treasury,
representing 5% of total issued shares, was completed on 8 October
2024. The Company currently holds 6,137,585 shares in
treasury.
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
Mayte Oosterveld, 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 731,000 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,
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, Mayte Oosterveld, Joerg
Gerbig and Andrew Kenny will host an analyst and investor
conference call to discuss the Q3 2024 trading update at 10:30 am
CET on Wednesday 16 October 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 Q3 2024 trading update at 8:30 am CET on
Wednesday 16 October 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 Q3 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.
