Just Eat drops on 'disappointing' Q1 orders

Just Eat Takeaway.com NV

17/04/2024 08:43

** Shares in Just Eat Takeaway  TKWY.AS  drop 4.9% after
Europe's biggest food delivery company by revenue posted Q1
total orders below estimates
    ** Q1 total number of orders of 214.2 million was lower than
the company-provided consensus of 217.1 million, as quoted by
Deutsche Bank
    ** Q1 GTV of 6.55 billion euros ($6.95 billion) were in line
with consensus
    ** "Just Eat Takeaway continues to disappoint on orders,"
Bryan Garnier analyst Clement Genelot said in an e-mailed
comment
    ** "The Netherlands, Germany and the UK may be performing
well, but half of the group’s business remains down in the
double digits and affects the group’s growth/cash generation
profile compared to what European peers Deliveroo and Delivery
Hero can offer," he adds
    ** Stock tracking worst day since early March




    
    ($1 = 0.9425 euros)

 (Reporting by Michal Aleksandrowicz)
 ((michal.aleksandrowicz@tr.com))