Just Eat Takeaway.com announced a reduced net loss for the past year, despite recording a significant impairment in its accounts.
Financial Overview
- The net loss for the year ended Dec. 31 was 1.85 billion euros ($2.01 billion), down from EUR5.67 billion in the previous year.
- An impairment charge of EUR1.54 billion was incurred, mainly related to goodwill and other intangible assets from prior equity-funded acquisitions.
- Adjusted EBITDA for the year was EUR324 million, surpassing guidance and showing significant improvement from the previous year’s EUR19 million.
Future Outlook
Looking ahead to the coming year:
- Just Eat Takeaway.com anticipates an adjusted EBITDA of EUR450 million.
- Expects constant currency gross transaction value growth (excluding North America) in the range of 2% to 6%.
Revenue and Performance
- Revenue for 2023 decreased to EUR5.17 billion from EUR5.56 billion, slightly lower than the FactSet consensus.
- While revenue in North America declined by 13% to EUR2.14 billion, the U.K. and Ireland saw a 1% increase to EUR1.31 billion, and Northern Europe experienced a 10% rise to EUR1.28 billion.
CEO’s Perspective
“Overall, the business is well-positioned to continue enhancing our topline performance, adjusted EBITDA, and free cash flow in 2024,” stated Chief Executive Jitse Groen.
