Investing
Just Eat Takeaway posts 2022 operating profit despite drop in order volumes
![](https://personalfinancedefined.com/wp-content/uploads/2023/03/JustEat-Takeaway_800x533_L_1629566395.jpg)
© Reuters
By Scott Kanowsky
Investing.com — Just Eat Takeaway (AS:) swung to an operating profit in 2022 and projected further growth in the figure this year, despite a slide in orders caused by inflation-hit customers paring back spending on takeaways.
Adjusted earnings before interest, taxes, depreciation and amortization at the food delivery service came in at €19 million (€1=$1.0607), rebounding from a loss of €350M in 2021 and meeting a previous guidance issued in January.
Annual gross transaction value – a measure of the total value of purchases made on the platform – was €28.2B, unchanged compared to the prior year. Higher average transaction values and positive foreign exchange movements helped offset a 9% fall in total orders.
“We expect a further improvement to adjusted [earnings before interest, taxes, depreciation and amortization] in 2023 and our ambition to create a highly profitable food delivery business is firmly on track,” said Chief Executive Officer Jitse Groen in a statement.
The Amsterdam-based company backed its target for core income of approximately €225M in 2023, although growth is expected to be skewed towards the end of the year due to lower order volumes in the second half of 2022.
On a net basis, Just Eat fell to a worse-than-expected of €5.7B stemming from a series of impairment charges related to its acquisition of U.S. peer Grubhub and the sale of its stake in Brazil’s iFood.
Shares in the group fell in early European trading on Wednesday.
Read the full article here
![](https://personalfinancedefined.com/wp-content/uploads/2023/02/pf-logo.png)
-
Personal Finance7 days ago
Gas prices drop as demand for driving fizzles out: AAA
-
Investing7 days ago
Crowdstrike CEO Responds to Causing Largest IT Outage in History
-
Side Hustles7 days ago
How to Build A Startup, From an Early Lyft, Twitch Investor
-
Passive Income7 days ago
The Top 5 AI Tools That Can Revolutionize Your Workflow and Boost Productivity
-
Passive Income5 days ago
NLRB Drops Expanded Joint Employer Appeal
-
Side Hustles7 days ago
Jake Paul: Mindset Hacks, Mike Tyson Fight, Embracing Fear
-
Investing7 days ago
Boeing to supply E-7 in first major win since plea deal By Reuters
-
Side Hustles6 days ago
10 Effective Growth Marketing Strategies for Your Startup