Meal delivery company Just Eat Takeaway is satisfied with the first half of the year: a slight fall in sales and the number of orders has nevertheless enabled a sharp rise in profits.
Focus on profitability
Sales have fallen slightly, from 2.57 billion euros to 2.59 billion euros over the last six months, but it is the gross transaction value (‘GTV’ or value of all orders) that is most important for the platform: it has increased by 3%, excluding North America. Nonetheless, the total number of orders fell slightly, from 469 million last year to 446 million.
Growth is on track, says CEO Jitse Groen, whose main focus is on the company’s profitability. The number of partners and delivery coverage has been extended, while the group has also invested in technological advances. Just Eat Takeaway has therefore confirmed its full-year forecasts.
Adjusted EBITDA increased by 42% to 203 million euros, thanks to lower order fulfilment costs and central costs. However, the net loss for the period was still 301 million euros, mainly due to depreciation and write-downs. This week, the meals platform announced that it was leaving France.
