REG - Just Eat Takeaway - Trading Statement

Just Eat Takeaway.com NVAnnouncement

27/09/2022 13:00

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RNS Number : 8706A  Just Eat Takeaway.com N.V.  27 September 2022

Amsterdam, 27 September 2022

Just Eat Takeaway.com to be Adjusted EBITDA profitable in the second half of
this year

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, expects to generate
positive Adjusted EBITDA in the second half of 2022.

Further improving profitability remains one of Just Eat Takeaway.com's highest
priorities. As previously communicated, the Company is working on improvements
to Revenue per Order, Delivery costs per Order and Overheads & Opex. As a
result of the significant progress Just Eat Takeaway.com has already made,
management now expects Just Eat Takeaway.com to turn profitable earlier than
initially anticipated.

 

Management expects Just Eat Takeaway.com to generate positive Adjusted EBITDA
in the second half of 2022, an improvement compared with an Adjusted EBITDA of
minus €134 million in the first half of 2022.

 

Due to uncertainty related to the impact of macroeconomic conditions and
foreign exchange volatility on our business, management updates the guidance
on GTV to grow by low-single digit year-on-year in 2022.

 

Outlook

Management updates its guidance for FY 2022:

o  Positive Adjusted EBITDA in the second half of 2022 (previously FY 2022
Adjusted EBITDA margin in the range of minus 0.5% to minus 0.7% of GTV)

o  GTV to grow by low-single digit year-on-year in 2022 (previously
mid-single digit)

 

Management expects the Company to maintain positive Adjusted EBITDA in FY
2023, and the long-term objectives for Just Eat Takeaway.com remain unchanged.

Just Eat Takeaway.com will shortly publish its Extraordinary General Meeting
("EGM") convocation and explanatory shareholder circular regarding the sale of
its iFood stake to Prosus. The Transaction is anticipated to be completed in
the fourth quarter of 2022, provided the resolution has been adopted at the
EGM.

The Q3 2022 Trading Update will be published on Wednesday 19 October 2022.

Management Board

Jitse Groen, CEO

Brent Wissink, CFO

 

Enquiries

 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 marketplaces.

Headquartered in Amsterdam, the Company is focused on connecting consumers and
partners through its platforms. With 680,000 connected partners, Just Eat
Takeaway.com offers consumers a wide variety of food choice.

Just Eat Takeaway.com has rapidly grown to become a leading online food
delivery marketplace with operations in the United States, the United Kingdom,
Germany, the Netherlands, Canada, Australia, Austria, Belgium, Bulgaria,
Denmark, France, Ireland, Israel, Italy, Luxembourg, New Zealand, Poland,
Slovakia, Spain and Switzerland, as well as Colombia and Brazil through its
stake in the iFood joint venture.

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.

Disclaimer

Statements included in this press release that are not historical facts are,
or may be deemed to be, forward-looking statements, including "forward-looking
statements" made within the meaning of the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements may be identified by the
use of forward-looking terminology, including the terms "anticipates",
"expects", "intends", "may" or "will" 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, reflect the Company's current view with respect to future
events and are subject to risks relating to future events, including risks
from or uncertainties related to innovation; competition; brand &
reputation; acquisitions; global strategic projects; technological reliability
and availability; social change, legislation & regulation; data security
and privacy; financial reporting, people, operational complexity of hybrid
model and integration & transformation, as well as those contained in the
Company's filings with the SEC, including the Company's registration statement
on Form 20-F and Current Reports on Form 6-K, which may be obtained free of
charge at the SEC's website, http://www.sec.gov, and the Company's Annual
Reports, which may be obtained free of charge from the Company's corporate
website, https://justeattakeaway.com. 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 announcement. Readers are
cautioned not to place undue reliance on such forward-looking statements.

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