Takeaway Q4 orders slump, flags EBITDA of $242.66 million in 2023 By Reuters


© Reuters. FILE PHOTO: A Just Eat delivery man rides his bicycle in Nice amid the coronavirus disease (COVID-19) outbreak in France, February 16, 2021. REUTERS/Eric Gaillard/File Photo

AMSTERDAM (Reuters) – Just Eat Takeaway.com NV, Europe’s largest meals delivery company, said in a trading update on Wednesday that orders fell by a worse-than-expected 12% in the fourth quarter of 2022, with a 16% drop at its U.S. Grubhub division.

The company, however, said it was profitable at the operating level for the full year 2022 and expects to remain so in 2023.

Fourth-quarter orders fell 12% to 239.8 million, compared with expectations for an 8% fall among analysts polled by Refinitiv. Gross Transaction Value (GTV), which measures total value of merchandise sold on Takeaway’s platform, fell by 2% to 7.11 billion euros ($7.67 billion), in line with estimates.

The company said it had earnings before interest, taxes, depreciation and amortization (EBITDA) of around 16 million euros for the full year 2022, swinging from a loss of 350 million euros marked in 2021. And it forecast an EBITDA of 225 million euros for 2023.

($1 = 0.9272 euros)

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