Just Eat Takeaway reports a drop in orders across all markets, including the UK, North America, and Australia.
- In Q3 2024, orders fell by 6% globally, with a 14% decline in southern Europe and Australia.
- Despite a decrease in orders, the gross transaction value (GTV) rose slightly in key markets.
- New partnerships in grocery, pharmacy, and wellness sectors have been introduced as part of a diversification strategy.
- The company aims to achieve operational efficiency and forecasts an adjusted EBITDA of €450 million for 2024.
Just Eat Takeaway, the renowned food delivery service, has announced a decline in orders across all its markets, citing a 6% drop globally in the third quarter of 2024. This includes significant downturns in various regions, most notably a 14% decrease in southern Europe and Australia, affecting the overall performance.
However, the company’s gross transaction value (GTV) managed a slight increase in crucial areas such as the UK, Ireland, and Northern Europe, which collectively account for approximately 60% of Just Eat Takeaway’s total orders. This rise suggests some resilience in these markets amidst broader challenges.
The company’s CEO, Jitse Groen, has emphasized the strides made in aligning with strategic objectives designed to foster growth. As part of these efforts, Just Eat Takeaway has introduced several new partnerships in sectors like grocery, pharmacy, and wellness. These ventures are anticipated to bolster diversification and contribute to the firm’s growth trajectory.
In a bid to enhance operational efficiency, Just Eat Takeaway has implemented cost reduction measures, including the reclassification of delivery personnel and exiting certain markets, such as Paris. These initiatives have enabled the company to increase investments and maintain the financial outlook for the year.
The organisation remains optimistic about its financial goals, maintaining its earlier forecast of achieving constant currency GTV growth of between 2% and 6% year-on-year irrespective of North American results. Moreover, an adjusted EBITDA of approximately €450 million is anticipated by the conclusion of 2024.
Just Eat Takeaway remains cautiously optimistic in achieving financial targets amidst global order declines and economic adjustments.
