Just Eat reports shrinking core loss, maintains profitability forecasts
2022.08.03 08:49
FILE PHOTO: A Just Eat delivery man rides his bicycle in Nice amid the coronavirus disease (COVID-19) outbreak in France, February 16, 2021. REUTERS/Eric Gaillard/File Photo
AMSTERDAM (Reuters) – Just Eat Takeaway.com, Europe’s largest meals delivery company, reported a smaller core loss for the first half of 2022 and revenue just below analysts’ forecasts.
Revenue came in at 2.78 billion euros ($2.83 billion), compared with 2.6 billion euros in the first six months of 2021 and analysts’ expectation of 2.8 billion euros, according to Refinitiv data.
Takeaway reported adjusted earnings before interest, taxes, depreciation and amortisation of negative 134 million euros, improving from a loss of 189 million euros in the same period a year earlier.
“Our path to profitability is accelerating and we expect to continue to materially improve our adjusted EBITDA in the second half of this year and to be adjusted EBITDA positive at a Group level in 2023,” Chief Executive Jitse Groen said in a statement.
($1 = 0.9824 euros)
