Just Eat orders drop across all markets in Q3
Excluding North America, where GTV dropped 12% to €2.1bn (£1.7bn), total GTV increased 3% year-on-year to €4.1bn (£3.4bn)
Just Eat has seen a drop in orders across all its markets in Q3 but has maintained its full year guidance.
The food delivery company reported that its Gross Transaction Value (GTV) fell by 3% to €6.3bn (£5.2bn) in the quarter, down from €6.5bn (£5.4bn) in Q3 2023.
Excluding North America, where GTV dropped 12% to €2.1bn (£1.7bn), total GTV increased 3% year-on-year to €4.1bn (£3.4bn).
However, GTV grew slightly in the UK and Northern Ireland reaching €1.7bn (£1.4bn), a 6% increase on Q3 2023. The group also reported that the Northern Europe and UK&I segments represented circa 60% of orders.
Under the three share buyback programmes launched in the past 18 months, the company has so far repurchased €340m (£284m) worth of shares.
The company has now reiterated its full year guidance of GTV growth excluding North America in the range of 2% to 6% year-on-year and an adjusted EBITDA of approximately €450m (£376m).
Jitse Groen, CEO of Just Eat Takeaway, 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. 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.”
