Just Eat Takeaway.com, the Amsterdam-based food delivery group, has announced an increase in its full-year adjusted Ebitda guidance and the launch of a €150 million ($158.6 million) share buyback program. The company reported strong growth in gross transaction value across most of its business.
Raised Guidance and Strong Growth
Just Eat Takeaway.com now expects adjusted earnings before interest, taxes, depreciation, and amortization (Ebitda) for the year to reach approximately €310 million, up from its previous guidance of €275 million. This positive development reflects the company’s continued success and thriving operations.
Gross Transaction Value Expectations
While the industry is facing some headwinds, Just Eat Takeaway.com anticipates a slight decrease of around 4% in gross transaction value for the year. This is a revision from the previous guidance, which projected growth ranging from negative 4% to positive 2%. Despite this adjustment, the company remains confident in its ability to deliver strong results.
Impressive Third Quarter Performance
In the third quarter, Just Eat Takeaway.com recorded a gross transaction value of €6.47 billion, surpassing the €4.92 billion figure from the same period last year. This significant growth showcases the company’s resilience and adaptability in the ever-changing food delivery landscape.
Positive Outlook and Future Prospects
Despite the challenges posed by the current environment, Just Eat Takeaway.com aims to achieve free cash flow break-even in the second half of this year. Moreover, it expects to maintain positive cash flow moving forward. These projections highlight the company’s commitment to sustainable growth and financial stability.
Impressive Order Processing
Although there was a slight reduction in the number of orders processed during the third quarter compared to the previous year, Just Eat Takeaway.com still handled an impressive 217.9 million orders. This indicates the company’s strong market position and ongoing popularity among customers.
In conclusion, Just Eat Takeaway.com’s increased guidance, launch of a share buyback program, and solid performance underscore its position as a leading player in the food delivery market. The company’s focus on growth, financial strength, and customer satisfaction sets it apart in this competitive industry.