Just Eat UK&I GTV rises 11% in Q1
However, the total number of orders decreased 6% to 214m, compared to 227m the previous year
Just Eat has reported a UK&I Gross Transaction Value (GTV) growth of 11% to €1.7bn (£1.4bn) in Q1 2024.
Northern Europe GTV also increased 5% to €2bn (£1.7bn) while Southern Europe and ANZ dipped 15% to €495m (£422m). Total GTV for the company amounted to €6.5bn (£5.5bn).
However, the total number of orders decreased 6% to 214 million, compared to 227 million the previous year. Only in the UK and Ireland the number of orders during the period slightly increased by 1% to 60.3 million.
For 2024, the takeaway company expects an adjusted EBITDA of approximately €450m (£384m) as well as constant currency GTV growth excluding North America in the range of 2% to 6% year-on-year.
On Tuesday (16 April) the group announced it has decided to discontinue its operations in New Zealand in the coming weeks. Similarly, the company is also exploring the partial or full sale of its struggling US subsidiary Grubhub.
Jitse Groen, CEO of Just Eat, said: “Just Eat started the year well, with the acceleration of GTV growth in UK and Ireland and our continued momentum in Northern Europe in Q1 2024. We are excited that the investments in our business are paying off, and we are looking forward to the rest of the year.”
