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Just Eat Takeaway appears to be seeing the end of the tunnel. The Anglo-Dutch group specializing in home food delivery said it expects a higher-than-forecast adjusted Ebitda for the full year 2023 of around 320 million euros. Gross transaction value (GTV) for the year fell 6% and 4% at constant currency to €26.446 billion, in line with guidance, with a decline of 5% and 3% in the fourth quarter alone at 6.752 billion euros. The company noted that performance in the final three months of 2023 was the best quarter of the year, with Northern Europe, the UK and Ireland finishing the year at their highest-ever quarterly GTV levels.
Towards a draw
Free cash flow was around breakeven in the second half of the year, in line with forecasts. The company will provide guidance for 2024 with 2023 results on February 28th.
“We are thrilled that both our Northern European, UK and Ireland segments have achieved their highest ever quarterly GTV level, demonstrating the strength of our European business. At the same time, we have reached a significant milestone with the company now having positive free cash flow. We look forward to 2024,” said CEO Jitse Groen.