Just Eat Takeaway expects to make its first profit in the second half of this year. That is earlier than the meal delivery company had initially estimated.
Company lowers growth forecast
Just Eat Takeaway will become profitable in the second half of this year, the company promises. The meal delivery company expects to generate a positive adjusted EBITDA by the end of this year. This is earlier than management initially expected and is due to significant cost savings, according to the company. It would be the first time Just Eat Takeaway posts a profit.
The meal delivery company says it is improving revenue per order, delivery cost per order and overhead and operational costs. Going forward, further improving profitability remains “one of the highest priorities”. By 2023, the company therefore expects to maintain profits. In the first half of this year, EBITDA still ended 134 million euros below zero, a record loss.
However, the meal platform does lower its full-year revenue forecast: gross revenue (GTV or value of all transactions) will only grow at “low single digits” this year due to uncertain macroeconomic conditions and currency volatility. Earlier, the meal delivery company assumed growth of around 5 %.