Just Eat expects profits to surge by 40% in 2024

ust Eat Takeaway (JET) revealed a reduced annual loss as it put through a lower impairment charge of €1.54bn (£1.32bn) on past acquisitions, as better-than-expected adjusted cash profits (Ebitda) helped the food delivery app return to a positive free cash flow in the second half of its financial year.  A total depreciation, amortisation and impairment charge of €2.14bn this …

Just Eat Takeaway CEO: Grubhub sale attempt has been ‘complicated’

Just Eat Takeaway’s pending sale of Grubhub has been complicated, CEO Jitse Groen told investors Wednesday. Groen said conversations are ongoing, but M&A activity in the U.S. has been slow. Existing fee caps, especially in New York City, have made conversations regarding the sale difficult, especially since they make “it tough to put a decent multiple on Grubhub,” he …

NYC’s delivery fee cap is complicating a Grubhub sale

New York City’s delivery fee cap is hampering the potential sale of Grubhub, owner Just Eat Takeaway.com (JET) said Wednesday. The cap, which limits third-party delivery commissions to 20% of the order total, is currently under review by the City Council and the subject of a lawsuit from Grubhub, DoorDash and Uber Eats.  Its uncertain …

Just Eat Earnings: Profit and Free Cash Flow Ahead While Fiscal 2023 Guidance Achievable

Just Eat Takeaway TKWY reported half-year 2023 results with total orders down 12% and gross transaction value down 7%, broadly in line with expectations. The Southern Europe, Australia, and New Zealand market, and Grubhub continue to be the main detractors with orders down 17% and 15% respectively. On a positive note, GTV and revenue improved in the …

Just Eat CEO Says Grubhub Sale Is Proving ‘Very Difficult’

Just Eat Takeaway.com NV is finding it difficult to complete the sale of its US business, Grubhub Holdings Inc., because of a combination of high price demands from some investors and a weak market for deals, Chief Executive Officer Jitse Groen said. “We’re talking to buyers still, but it’s a very difficult M&A situation currently,” …

Grubhub is losing its second CEO in less than 2 years as owner explores sale of company

Adam DeWitt, chief executive of Grubhub, is stepping down as CEO of the nation’s No. 3 delivery operator, the company’s European owner, Just Eat Takeaway.com, announced Monday.  DeWitt ran Grubhub alongside co-founder and former CEO Matt Maloney for years during its heyday. DeWitt served as the company’s chief financial officer until he became CEO in June 2021, when JET …

Just Eat Takeaway loss widens on massive Grubhub impairment

Just Eat Takeaway.com NV on Wednesday reported a widened loss for 2022, due to a huge impairment of its Grubhub acquisition, but it growth in 2023. The former FTSE 100 stock was down 6.0% at 1,701.00 pence each on Wednesday morning in London. The food delivery app said revenue was up 4.3% to EUR5.56 billion …

Just Eat Takeaway shares rise as ING predicts 2023 profit jump

Just Eat Takeaway (AS:TKWY) shares climbed towards the top of the pan-European Stoxx 600 on Monday after analysts at ING said they expect the Amsterdam-listed food delivery service to post strong returns in 2023. In a note to clients, the analysts predicted that Just Eat may report “quite significant profit” this year, citing the impact …

Just Eat orders drop in latest quarter amid online food slowdown

Just Eat food delivery service saw customers place fewer orders than expected in its latest quarter amid rising living costs and a slowdown in growth for the online food sector. The total value of orders placed on Amsterdam-based Just Eat’s platform during the fourth quarter was €7.1bn, the company reported, compared to an average analyst …

Grubhub Parent Focused on Profitability Amid Slump in Orders and Spending

With aggregators increasingly operating at a profit, those that are not may get left behind. In the past couple of quarters, Just Eat Takeaway.com has been making a profit for the first time since lockdown, even as sales have fallen. The company discussed this turnaround on a call Wednesday (Jan. 18) accompanying its fourth-quarter 2022 financial results. “[We …