Just Eat Takeaway is seeing transaction value rise again, even though the number of orders did fall. The meal delivery company is cutting costs and expects higher profits.
Optimistic
The parent company of delivery services such as Thuisbezorgd.nl and Takeaway.com saw gross transaction amount rise 6 % in Northern Europe and 4 % in the United Kingdom and Ireland. However, the total number of orders fell by 3 % in these regions, meaning consumers ordered less often but for higher amounts. This makes the company optimistic: Just Eat Takeaway is aiming for an adjusted gross operating profit (ebitda) of 310 million euro this year instead of the previously projected 275 million.
The total number of orders fell 7 % to 217.9 million, with gross transaction value down by the same percentage to almost 6.5 billion euros. Moreover, the meal delivery company is still struggling with declining spending in North America and Southern Europe, where recovery is slower. After the explosive growth during the pandemic, delivery companies need to adapt to a normalisation of consumer behaviour. Just Eat Takeaway is cutting costs and is still considering a sale of its US subsidiary Grubhub, although there is no certainty about that.
