AUS
NZ
UK
CA
USA
IND
Highlights:
- Q3 Growth: Just Eat Takeaway’s growth for Q3 hit the bottom of its expected range, with GTV rising by 2% excluding the US.
- Regional Performance: UK, Ireland, and Northern Europe showed improvement, while Southern Europe and Australasia experienced a 12% drop in GTV.
- Future Strategy: Just Eat maintained its full-year guidance and continues to explore strategic diversification with partnerships in grocery and pharmacy sectors.
Just Eat Takeaway.com NV (LSE:JET) reported a mixed performance for the third quarter, with growth coming in at the lower end of its guidance range. The company’s gross transaction value (GTV), excluding the US, rose by 2%, which was at the bottom of its forecast range of 2% to 6%. On a reported basis, overall growth for the period was 4% year-on-year.
Performance Across Key Regions
The company saw notable growth in its UK and Ireland arm, as well as in Northern Europe, with GTV improving by 6% and 4% respectively. These regions now account for approximately 60% of Just Eat’s total orders. However, Southern Europe and Australasia reported a 12% drop in GTV, highlighting a stark regional contrast in the company’s performance.
Despite these challenges, Just Eat maintained its full-year guidance, forecasting underlying adjusted EBITDA of €450 million and projecting positive free cash flow for the year. Management also reiterated its commitment to selling the US-based Grubhub, which remains a key focus.
Strategic Diversification and Future Outlook
CEO Jitse Groen emphasized the company’s continued expansion beyond its core food delivery services, noting the launch of new partnerships across sectors such as grocery, pharmacy, and wellness in various markets. Groen expressed optimism about the company’s direction, stating that Just Eat is well-positioned to meet its full-year guidance, despite the mixed results for the quarter.
