Just Eat Takeaway, one of the world’s largest online food delivery marketplaces, has reported progress across its key strategic pillars, namely Northern Europe, the UK and Ireland, in its Q3 2024 figures.
Overall in 2024, constant current Gross Transaction Value (GTV) growth, excluding North America, has been in the range of 2% to 6%, year on year, with an adjusted EBITDA of approximately €450 million.
Strategic Pillars
Jitse Groen, CEO of Just Eat Takeaway.com, said, “We made good progress across our key strategic pillars, which we believe will drive growth.
“Northern Europe and the UK and Ireland continued their positive momentum, and these segments now represent [approximately] 60% of the group’s total orders.
“In line with our strategy to diversify, several new partnerships were launched across adjacencies like grocery, pharmacy and wellness in many of our markets.
“Furthermore, cost and operational efficiencies have allowed us to increase investments while maintaining our outlook.
“We are well on track to deliver our guidance for the full year.”
The group noted that it had an improved exit rate following a slower July and reiterated its guidance for 2024.
Drive Growth
It has repurchased a combined €340 million worth of shares, with good progress across key strategic pillars, which it believes will drive further growth.
In the first nine months of 2024, the constant-currency GTV growth (excluding North America) was 3%, year on year, within the guided range of 2% to 6% GTV growth.
On a reported basis, growth was 4%, year on year, for the period.
Share Buy-Back
Combined within the three share buy-back programmes launched in the past 18 months, Just Eat Takeaway.com has so far repurchased €340 million worth of shares.
The cancellation of approximately 11 million shares previously held in treasury, representing 5% of the total issued shares, was completed on 8 October 2024.
The company currently holds 6,137,585 shares in treasury.
The Q3 report added that management, together with its advisers, continues to actively explore the partial or full sale of Grubhub.
