21st Oct 2021 10:36
(Alliance News) - Just Eat Takeaway.com NV on Thursday left its annual outlook unchanged, though it outlined plans to boost margins as the food delivery company wants to trim its losses after 2021.
Shares in the company were 2.2% lower at 5,923.00 pence each in London on Thursday morning.
At its Capital Markets Day on Thursday, the company will reaffirm its guidance of 45% order growth for 2021, excluding GrubHub. Gross transaction value, including the GrubHub business, is still expected to be in the range of EUR28 billion to EUR30 billion. The adjusted earnings before, interest, tax, depreciation and amortisation margin is forecast between minus 1% and minus 1.5% of its gross transaction value.
Just Eat Takeaway.com will outline longer-term targets, however.
The company said: "2021 will be the peak year of losses, with 2022 adjusted Ebitda margin improving to the range of minus 0.6% to minus 0.8% of GTV."
The company eyes adding EUR30 billion in gross transaction value over the next five years. In the long-term it targets an adjusted Ebitda margin of 5% of its gross transaction value.
Key parts of Just Takeaway.com's strategy include expanding in the convenience grocery delivery space. It also eyes "continuing our successful turnaround in the UK".
By Eric Cunha; ericcunha@alliancenews.com
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