Just Eat Takeaway jumps on H1 EBITDA beat, new buyback

Just Eat Takeaway.com NV

31/07/2024 08:57

** Shares in Just Eat Takeaway  TKWY.AS  jump over 10% as
the food delivery company posted an H1 EBITDA beat and announced
a new share buyback
    ** H1 adjusted EBITDA grew over 40% to 203 million euros
($220 million) beating consensus of 196 million, as cited by KBC
Securities
    ** "We are pleased to see that the adj. EBITDA came in
slightly above consensus," says KBC, also calling the results
"solid"
    ** Degroof Petercam says progress on EBITDA looks
encouraging
    ** The firm also announced a new share buyback programme of
up to 150 million euros, citing its strong liquidity position
    ** "We understand the rationale for the new share buyback,"
says Degroof, adding that even a small dividend could also work
out well for the share price
    ** Stock is on track for its best day since November 2022 if
gains hold and is among the best performers of Stoxx 600
 .STOXX  index
    ** London-listed shares also rose 8.6%

    
    ($1 = 0.9239 euros)

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