REG - Just Eat Takeaway - Q1 2024 Trading Update

Just Eat Takeaway.com NVAnnouncement

17/04/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240417:nRSQ9401Ka&default-theme=true

RNS Number : 9401K  Just Eat Takeaway.com N.V.  17 April 2024

Amsterdam, 17 April 2024

Just Eat Takeaway.com Q1 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 first quarter of 2024.

·      UK and Ireland accelerated GTV growth to 11% (7% constant
currency) in Q1 2024

·      Continued momentum in GTV growth in Northern Europe

·      Constant currency GTV growth excluding North America of 3% in Q1
2024, within the 2024 guidance range of 2% to 6% year-on-year

·      We reiterate our guidance including adjusted EBITDA of
approximately €450 million and positive free cash flow(1) before changes in
working capital in 2024

Jitse Groen, CEO of Just Eat Takeaway.com said: "Just Eat Takeaway.com started
the year well, with the acceleration of GTV growth in UK and Ireland and our
continued momentum in Northern Europe in Q1 2024. We are excited that the
investments in our business are paying off, and we are looking forward to the
rest of the year."

●      Under the share buyback programmes announced in April and
October 2023, 8.9% of the issued shares were repurchased as per 12 April 2024.

●      Management decided to discontinue all operations in New Zealand
in the coming weeks. The financial impact is immaterial.

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  (#_ftn1) ) 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

Brent Wissink, 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 699,000 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, New
Zealand, 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, Brent Wissink, Joerg Gerbig and Andrew Kenny will host an analyst
and investor conference call to discuss the Q1 2024 trading update at 10:30 am
CET on Wednesday 17 April 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 Q1 2024 trading
update at 8:30 am CET on Wednesday 17 April 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 Q1 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  (#_ftnref1) Free cash flow before working capital excludes other changes
in working capital, other non-current assets and provisions

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  TSTEALLXFLPLEEA