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Just Eat guides to strong profit growth in 2024

Wed, 28th Feb 2024 07:43

(Sharecast News) - Takeaway group Just Eat delivered adjusted profits ahead of its own forecasts for 2023 and predicted a 39% jump in earnings this year as gross transaction value (GTV) excluding North America returned to growth.

Adjusted EBITDA came in at €324m for the 12 months to 31 December, up from just €19m in 2022, and above the €320m guidance given last month.

Reported group GTV fell 6% for the year to €26.4bn, as a 14% drop in North America and a 17% tumble in the smallest region, Southern Europe and ANZ, offset 4% growth in Northern Europe and a 1% increase in the UK and Ireland.

However, excluding North America, total GTV would have risen by just under 1%.

Total revenues were 7% lower over the year at €5.17bn, as a 9% drop in orders was met with a 6% decline in active consumers to 84m.

Looking ahead, the company expects GTV excluding North America to grow by between 2% and 6% in 2024, with adjusted EBITDA coming in at around €450m.

"Overall, the business is in a strong position to capture further improvement to our topline performance, adjusted EBITDA and free cash flow in 2024," said chief executive Jitse Green.

Shares were up 3.1% at 1,323.5p in early deals on Wednesday.

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9 Dec 2019 08:13

TOP NEWS: Prosus Ups Just Eat Offer, Valuing Company At GBP5.1 Billion

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9 Dec 2019 08:01

Prosus sweetens offer for Just Eat to ?5.1bn

(Sharecast News) - Prosus sweetened its offer for online food delivery firm Just Eat on Monday to £5.1bn from £4.9bn.

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3 Dec 2019 08:37

Takeaway.com Accuses Rival Just Eat Bidder Of "Scaremongering"

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25 Nov 2019 13:30

UPDATE: Prosus Bites Back In War Of Words With Just Eat, Takeaway.com

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25 Nov 2019 09:21

Just Eat And Takeaway.com Urge Merger Support Amid Prosus Bid

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20 Nov 2019 13:21

Prosus calls on Just Eat shareholders to accept offer

(Sharecast News) - Prosus has called on Just Eat shareholders to accept its unsolicited £4.9bn takeover offer, cautioning that the offer from Dutch online food delivery firm Takeaway.com creates "signifciant risk".

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20 Nov 2019 11:35

Takeaway.com Hails "Important" Just Eat Merger Step; Prosus Fires Back

Takeaway.com Hails "Important" Just Eat Merger Step; Prosus Fires Back

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13 Nov 2019 17:48

Takeaway.com Clarifies CEO Jitse Groen's Comments On Just Eat Offer

Takeaway.com Clarifies CEO Jitse Groen's Comments On Just Eat Offer

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11 Nov 2019 10:49

UPDATE: Takeaway.com Insists Merger Terms With Just Eat "Appropriate"

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11 Nov 2019 09:28

UPDATE: Just Eat Continues To Prefer Takeaway.com Over Prosus

UPDATE: Just Eat Continues To Prefer Takeaway.com Over Prosus

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11 Nov 2019 08:01

Just Eat sticks by Takeaway.com deal as Prosus lowers acceptance threshold

(Sharecast News) - Just Eat reaffirmed its commitment to a merger with Takeaway.com on Monday after Prosus tweaked its offer for the London-listed takeaway delivery platform, lowering the level of required acceptances from shareholders.

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11 Nov 2019 07:55

Prosus Sets First Closing Date Of December 11 For Just Eat Offer

Prosus Sets First Closing Date Of December 11 For Just Eat Offer

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11 Nov 2019 06:54

PRESS: Prosus To Leave Just Eat If It Merges With Takeaway.com

PRESS: Prosus To Leave Just Eat If It Merges With Takeaway.com

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4 Nov 2019 10:13

Takeaway.com switches structure of Just Eat deal

(Sharecast News) - Takeaway.com has changed the structure of its offer to buy London-listed online food delivery company Just Eat as it looks to fend off a rival bid from Prosus.

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