Amsterdam-based food delivery service, Just Eat Takeaway.com, has revised its full-year adjusted Ebitda forecast upwards to around EUR310 million, marking a significant increase from the previously projected EUR275 million. The upward revision was announced on Wednesday, accompanied by the initiation of a 150 million euro ($158.6 million) share repurchase scheme.
The company also reported growth in gross transaction value (GTV) across most of its sectors for the third quarter, reaching EUR6.47 billion ($6.84 billion), a substantial rise from the EUR4.92 billion ($5.2 billion) recorded in the same period last year. Despite this, Just Eat Takeaway.com expects an approximate 4% decrease in annual GTV, a shift from previous forecasts which ranged from a negative 4% to a positive 2%.
In terms of order volume, the firm processed 217.9 million orders during Q3, showing a decrease compared to the 235.3 million orders processed during the corresponding quarter in the previous year.
Looking ahead, Just Eat Takeaway.com is on track to reach free cash flow break-even by the second half of the year, with positive cash flow projections thereafter. The company's revised Ebitda forecast and new share repurchase program signal confidence in its financial performance and future growth prospects.
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