REG - Just Eat Takeaway - 3rd Quarter Results

Just Eat Takeaway.com NVAnnouncement

16/10/2024 07:00

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RNS Number : 3891I  Just Eat Takeaway.com N.V.  16 October 2024

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
(https://www.justeattakeaway.com/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 (mailto:IR@justeattakeaway.com)

Media:

E: press@justeattakeaway.com (mailto:press@justeattakeaway.com)

 

For more information, please visit our corporate website:
https://www.justeattakeaway.com/ (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
(https://www.linkedin.com/company/just-eat-takeaway-com/mycompany/verification/)
and X (https://twitter.com/justeattakeaway) .

 

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/
(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
(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.

 1  Free cash flow before working capital excludes other changes in working
capital, other non-current assets and provisions

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