Business Express is an online portal that covers the latest developments in the world of business and finance. From startups and entrepreneurship to mergers and acquisitions, Business Express provides reporting on the stories that matter most to business leaders and decision-makers.The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
2023 04 19T051843Z 1 LYNXMPEJ3I03J RTROPTP 4 JUST EAT M A TAKEAWAY COM - Business Express

Just Eat Takeaway raises 2023 guidance, launches buyback


Just Eat Takeaway raises 2023 guidance, launches buyback

By Tristan Veyet and Laura Lenkiewicz

(Reuters) -Just Eat Takeaway.com NV raised its 2023 adjusted core profit outlook on Wednesday, saying it continues to make good progress on delivery-led operational improvements and is now ahead of plan.

Europe’s biggest meal delivery company expects adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) of 275 million euros ($301.6 million) in 2023. It had in January forecast adjusted EBITDA of 225 million euros.

Furthermore, the company said it expected its gross transaction value (GTV) growth to be in a range of -4% to +2% year-on-year in 2023.

The Dutch-listed online delivery group expects free cash flow to turn positive in mid-2024.

The food delivery sector was one of the big beneficiaries of the COVID-19 pandemic, but that effect has waned as consumers, faced with surging prices, have started to cut back spending.

Don't miss out on any breaking news or insightful opinions!
Subscribe to our free newsletter and stay updated on the go!


By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

The firm reported total orders of 227.8 million in a first-quarter trading update, 14% below last year’s level, and a GTV of 6.67 billion euros, down 8% year-on-year.

Just Eat Takeaway also said it launched a share buyback programme of up to 150 million euros to be completed by the end of the year, citing an improvement of future earnings per share and covering the company’s obligations.

Since its IPO in 2016, Just Eat Takeaway’s share price lost close to 30% of its original value.

($1 = 0.9117 euros)

(Reporting by Tristan Veyet and Laura Lenkiewicz in Gdansk; Editing by Kim Coghill, Subhranshu Sahu and Varun H K)

 

Recent Post: