Just Eat to return to profit earlier than expected
It comes as the group has been working on improvements to revenue per order, delivery costs per order and overheads and opex
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Just Eat Takeaway.com has said it expects to return to profitability earlier than initially expected, with the group on track to generate positive adjusted EBITDA in the second half of 2022.
The group said it expects to generate positive adjusted EBITDA in the second half of 2022, an improvement compared with the adjusted EBITDA of minus €134m (£121m) in the first half of 2022.
It also expects to maintain this positive adjusted EBITDA in FY23, and the long-term objectives for Just Eat Takeaway.com “remain unchanged”.
It comes as the group said that further improving its profitability remains one of its “highest priorities”. It has already been working on improvements to revenue per order, delivery costs per order and overheads and opex.
While EBITDA is expected to be positive, the group updated its guidance on GTV, which is now expected to grow by low-single digit year-on-year in 2022, rather than the previous guidance of mid-single digit growth.
The group attributed this to the uncertainty related to the impact of macroeconomic conditions and foreign exchange volatility on the business.
The group’s Q3 2022 trading update will be published on Wednesday 19 October 2022.
