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Just Eat Takeaway.com increases profit by 40 Percent! Just Eat Takeaway has reported an impressive 40% increase in its adjusted core profit for the first half of the year, reaching €203 million, according to Reuters. The company also announced a share buyback program worth up to €150 million. In addition, Just Eat is sticking to its plans to sell its US subsidiary Grubhub, either in whole or in part, and to withdraw from the French market. #JustEatTakeaway #BusinessGrowth #ProfitIncrease #ShareBuyback #CorporateStrategy #MarketUpdate #efood #fooddelivery

Just Eat Takeaway.com surpasses 2023 core profit target. Just Eat Takeaway announces it expects to exceed its 2023 core earnings forecast. Key developments include: - Adjusted EBITDA: Approximately €320 million (that's 1.2% of GMV), over the earlier estimate of €310 million. - Free Cash Flow: Achieved break-even in H2 of 2023, a notable milestone in the sector. - Market Strategy: Focused investments in the UK, its largest market, while streamlining costs globally. CEO Jitse Groen credits these results to strategic cost management and targeted market investments, particularly in Northern Europe and the UK/Ireland. Despite a 4% drop in GTV to 26.45 bln euros, in line with guidance, the company aligns with its guidance and maintains market resilience. The food delivery industry is shifting towards sustainable profitability post-pandemic, and Just Eat's performance signals a positive trend. #JustEatTakeaway #businessstrategy #financialgrowth #ecommerce #fooddelivery #fromhomecookingtonocooking

Just Eat Takeaway.com NV (LSE:JET, NASDAQ:GRUB) shares sank over 5% on Wednesday morning after the food delivery company reported a fall in orders over the first three months of the year. Total orders came in 6% lower at €214.2 million (£182.6 million) over the first quarter, Just Eat reported on Wednesday. This came on the back of a fall in all regions except for the UK and Ireland, where orders grew 1% to €60.3 million. Gross transaction value increased in the UK and Ireland too, by 7% to €1.7 billion. However, including a 10% drop in Just Eat’s North American business, group gross transaction values fell by 2% to €6.5 billion. “Poorer North American performance [...] will once again raise questions from investors whether or not the company needs to focus its energy on Europe, as opposed to trying to compete with big hitters DoorDash and UberEats,” eToro analyst Adam Vettese said. More at #Proactive #ProactiveInvestors http://ow.ly/SmqX105pKE9

Just Eat Takeaway.com Announces Buyback as European Markets Drive Profit Growth Just Eat Takeaway.com has reported a substantial 40% increase in first-half core profit, propelled by strong performance in its key European markets. The company revealed a share buyback program and highlighted its commitment to leveraging technology to further reduce costs. As Europe's largest food delivery company by revenue, Just Eat Takeaway.com posted adjusted earnings before interest, #taxes, depreciation, and amortization (EBITDA) of 203 million euros ($220 million) for the first half of the year. This figure surpassed analyst expectations of 196 million euros. Following the announcement, shares initially surged over 10% before stabilizing. In Northern Europe, gross transaction value (GTV), a crucial metric for food delivery services, rose by 5%. Growth was also observed in Britain and Ireland, where #GTV increased by 6%. Conversely, North America saw a 9% decline in GTV due to fewer orders and increased competition. However, Britain and Ireland's adjusted EBITDA experienced a remarkable 64% rise, attributed to a transition to an in-house delivery platform. In North America, adjusted EBITDA grew by 57% despite a fee cap imposed in New York City. The company reiterated its intention to sell all or part of its Grubhub unit in the United States, which it acquired in 2020 and has been on the market since 2022. In Northern Europe, adjusted EBITDA dropped by 3% as the company invested in expanding into new cities, extending delivery zones, and increasing operating hours. CEO Jitse Groen emphasized the overall GTV improvement, citing growth in the partner base, expanded delivery coverage, and significant technological advancements. Groen also mentioned the company's ongoing efforts to cut costs and utilize AI to streamline call center operations. The firm announced a 150 million euro share buyback program, reflecting its strong liquidity position, and maintained its annual core profit forecast set in late February.

Delivery Hero vs. Just Eat? One has 60% upside in a ‘winner-takes-all’ market, says Stifel - https://lnkd.in/gJGVavHq - Berlin-based Delivery Hero and Dutch multinational Just Eat Takeaway are two companies at the center of the ruthless online food delivery sector. Investment bank Stifel examined both stocks and found that one has significant upside amid a fiercely competitive “winner-takes-all” market. Shares of both companies are traded in the U.S. and across Europe. DHER-DE JET-GB […]

#Citigroup has updated its European food delivery forecasts to reflect recent app and web data from its innovation lab, which suggest Just Eat Takeaway.com NV (LSE:JET, NASDAQ:GRUB) could have the edge over rivals this results season.    #JustEat is expected to unveil its results for the fourth quarter on 17 January, and #Deliveroo is due to publish its results two days later on 19 January. Citi analysts said their estimates of Just Eat's gross merchandise value (GMV) are 'in-line' with general forecasts for the quarter, suggesting “more constructive” optimism for the delivery company's UK and Ireland business, but caution around activities in North America, Europe and Australasia.   Just Eat is expected to deliver more gross transaction value (GTV), quarter over quarter, than food delivery rival Deliveroo, according to #Citi analysts.  More at #Proactive #ProactiveInvestors #ETR #OTCQX #DHER #DLVHF http://ow.ly/jzjT1058B3O

Just Eat Takeaway.com announces buyback as Europe leads profits beat Just Eat Takeaway.com reported a significant 40% increase in first-half core profit, driven by robust performance in its main European markets. The company announced a share buyback program and emphasized its focus on leveraging technology to further reduce costs. Europe's largest food delivery firm by revenue posted half-year adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of 203 million euros ($220 million), surpassing analyst expectations of 196 million euros. Following the announcement, shares initially surged over 10% before stabilizing. In Northern Europe, gross transaction value (GTV), a key metric for food delivery companies, rose by 5%. Growth was also seen in Britain and Ireland, where GTV increased by 6%. However, GTV fell by 9% in North America due to fewer orders and heightened competition. Britain and Ireland's adjusted EBITDA saw a remarkable 64% increase, attributed to a shift to an in-house delivery platform, while North America’s adjusted EBITDA grew by 57% despite a fee cap imposed in New York City. Just Eat Takeaway.com reiterated its intention to sell all or part of its Grubhub unit in the United States, acquired in 2020 and on the market since 2022. In Northern Europe, adjusted EBITDA dropped by 3% as the company invested in expanding into new cities, extending delivery zones, and increasing operating hours. CEO Jitse Groen highlighted the overall GTV improvement, citing growth in the partner base, expanded delivery coverage, and significant technological advancements. Groen also mentioned the company's ongoing efforts to cut costs and use AI to streamline call center operations. The firm announced a 150 million euro share buyback program, reflecting its strong liquidity position, and maintained its annual core profit forecast set in late February. Stay ahead with the latest in food delivery news from the weekly Boolanga Bites newsletter, brought to you by Boolanga Business. Sign up for our LinkedIn newsletter now to receive weekly updates directly to your inbox every Monday.

Just Eat Takeaway.com cuts delivery costs as UK boosts earnings. 📈 The UK and Ireland’s love for takeaways and a “simplification” of its delivery model boosted Just Eat Takeaway’s financial results in the first half of the year, but negative growth in North America and southern Europe led to a small drop in overall revenue. Total revenue dropped by less than 1% at the London-listed food delivery platform year on year in the first half of 2024, going from €259m for H1 2023 to €257m in H1 2024. ➡️ https://lnkd.in/eiZ4XpTz 🔗 #delivery #revenue #profit #UK #fooddelivery #costs #UKtech

🚀 Exciting News from Just Eat Takeaway.com 🚀 We're thrilled to share our Full Year 2023 results, marking a significant leap in our financial journey! 🌟 Here's the scoop: GTV Growth: We've seen a fantastic resurgence in GTV, signalling a robust demand for our services. Soaring EBITDA: Our Adjusted EBITDA has not just met, but exceeded expectations, reaching a whopping €324 million. UK & Ireland Surge: The momentum in the UK and Ireland is undeniable, with EBITDA figures racing to match those of Northern Europe. Positive Cash Flow: A monumental achievement for us - turning positive in free cash flow in the latter half of 2023. This signifies our ability to fuel future growth from our own operations. This journey reflects our commitment to excellence, innovation, and sustainable growth. #teamorange #wearejet

📈Full Year 2023 Results are out: 🛍️ 891m orders 💰 €26.4 B GTV 🏪 699K Partners 👥 84m Active Consumers 📈 €324m Adjusted EBITDA 🌎 20 Countries