Just Eat Takeaway.com, the Amsterdam-based food-delivery group, announced that it has raised its full-year adjusted Ebitda guidance and launched a €150 million share buyback program. The company reported growth in gross transaction value across most of its business.
The revised guidance for adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) for the year is €310 million, up from the previous estimate of €275 million. This reflects the company's strong performance and outlook for the remainder of the year.
While the food-delivery industry has faced challenges this year, Just Eat Takeaway.com expects gross transaction value to decrease by approximately 4%, compared to the previous guidance range of -4% to +2%.
In the third quarter, gross transaction value reached €6.47 billion, a significant increase from €4.92 billion in the same period last year. Northern Europe and the U.K. and Ireland experienced growth of 6% and 4% respectively, while North America saw a decline of 18%.
Despite the challenges in North America, Just Eat Takeaway.com remains confident that the region will soon achieve cash flow neutrality. Chief Executive Jitse Groen stated, "Although the recovery of North America is on a slower trajectory, we are satisfied that this segment too is rapidly becoming cash flow neutral."
During the third quarter, Just Eat Takeaway.com processed 217.9 million orders, down from 235.3 million in the same period last year. The company continues to explore potential options for the partial or full sale of Grubhub, but no deals have been confirmed at this time.
Overall, Just Eat Takeaway.com is optimistic about its future financial performance. It expects to reach free cash flow break-even in the second half of this year and maintain a positive cash flow thereafter.