TIDMJET
RNS Number : 0978N
Just Eat Takeaway.com N.V.
18 January 2023
Amsterdam, 18 January 2023
Just Eat Takeaway.com Q4 2022 Trading Update
Adjusted EBITDA[1] accelerates to approximately EUR150 million
in H2 2022
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 fourth quarter
of 2022.
Jitse Groen, CEO of Just Eat Takeaway.com said: "Our focus on
profitability resulted in a material improvement in Adjusted
EBITDA, from minus EUR134 million in the first six months of 2022
to approximately EUR150 million positive in the second half of the
year. Our improved profitability and strong capital position
strengthen our business for further growth and underpin our ability
to both deliver on our Adjusted EBITDA targets and invest in food
and non-food adjacencies ."
-- Just Eat Takeaway.com generated Adjusted EBITDA amounting to
approximately EUR150 million (or 1.1% of GTV) in H2 2022,
representing a material improvement from minus EUR134 million in H1
2022, driven by improved Revenue per Order, Delivery costs per
Order and Overheads & Opex. F ull year Adjusted EBITDA improved
to approximately EUR16 million in 2022 from minus EUR350 million in
2021. The largest absolute contributions to the second half
improvement were driven by North America, Southern Europe and ANZ,
and UK and Ireland.
-- Full year 2022 GTV was stable compared with EUR28.2 billion
in the prior year, driven by a higher Average Transaction Value and
positive FX movements, which offset lower Order volumes.
-- Three out of the four operating segments returned to
sequential Order growth from August 2022 onwards, while the
pandemic continued to affect the year-on-year comparison. This
reversal was less pronounced in Southern Europe and ANZ because of
the inverse seasonality in ANZ. The Order decline in North America
decelerated in Q4 2022.
-- Management will maintain focus on profitability and expects
to deliver a positive Adjusted EBITDA of approximately EUR225
million in 2023. This guidance includes additional investments in
food and non-food adjacencies and wage costs inflation, and takes
into account an uncertain macro-economic environment. Growth in
2023 is expected to be skewed towards the end of the year, given
the lower absolute Order level of H2 2022 versus H1 2022. The
long-term objectives for Just Eat Takeaway.com remain
unchanged.
-- The disposal of the iFood stake for the initial consideration
of EUR1.5 billion completed in November 2022.
-- 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 marketplaces.
Headquartered in Amsterdam, the Company is focused on connecting
consumers and partners through its platforms. With 680,000
connected partners, Just Eat Takeaway.com offers consumers a wide
variety of food choice.
Just Eat Takeaway.com has rapidly grown to become a leading
online food delivery marketplace with operations in the United
States, the United Kingdom, Germany, the Netherlands, Canada,
Australia, Austria, Belgium, Bulgaria, Denmark, France, Ireland,
Israel, Italy, Luxembourg, New Zealand, Poland, Slovakia, Spain and
Switzerland.
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 Q4 2022
trading update at 10:30 am CET on Wednesday 18 January 2023.
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 Q4
2022 trading update at 8:30 am CET on Wednesday 18 January 2023.
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 Q4 2022
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 are, or may be deemed to be, forward-looking
statements, including "forward-looking statements" made within the
meaning of the U.S. Private Securities Litigation Reform Act of
1995. These forward-looking statements may be identified by the use
of forward-looking terminology, including the terms "anticipates",
"expects", "intends", "may" or "will" 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, reflect the Company's current view
with respect to future events and are subject to risks relating to
future events, including risks from or uncertainties related to
innovation; competition; brand & reputation; acquisitions;
global strategic projects; technological reliability and
availability; social change, legislation & regulation; data
security and privacy; financial reporting, people, operational
complexity of hybrid model and integration & transformation, as
well as those contained in the Company's filings with the SEC,
including the Company's registration statement on Form 20-F and
Current Reports on Form 6-K, which may be obtained free of charge
at the SEC's website, http://www.sec.gov, and the Company's Annual
Reports, which may be obtained free of charge from the Company's
corporate website, https://justeattakeaway.com. 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 announcement.
Readers are cautioned not to place undue reliance on such
forward-looking statements.
[1] Adjusted EBITDA is defined as operating income / loss for
the period adjusted for depreciation, amortisation, impairments,
share-based payments, acquisition and integration related expenses
and other items not directly related to underlying operating
performance. This also excludes the discontinued operations in
Norway, Portugal and Romania.
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END
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