Just Eat Takeaway (JET) Shares Rose 1.97% on Q4 2023 Results

The Just Eat Takeaway.com NV (LON: JET) share price rose 1.97% after releasing a trading update for the fourth quarter of 2023. The company noted that its adjusted EBITDA for 2023 was better than expected and would be approximately €320 million. 

A remarkable achievement for Just Eat Takeaway.com in 2023 was the record-breaking Gross Transaction Value (GTV) in Northern Europe, the UK, and Ireland. These areas demonstrated substantial growth and concluded the year with the highest quarterly GTV ever recorded in the company's history. 

Throughout 2023, Just Eat Takeaway.com witnessed a steady increase in its Group GTV, aligning perfectly with the forecasts and guidance provided earlier. The fourth quarter stood out as the most successful period of the year, showcasing the company's ability to maintain a consistent growth trajectory and adapt to market demands effectively.

Another highlight for Just Eat Takeaway.com in 2023 was its Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization). The figure exceeded the initial guidance, with expectations of around €320 million. This outperformance in the Adjusted EBITDA reflects the company's robust financial management and operational efficiency.

Regarding financial health, Just Eat Takeaway.com demonstrated a commendable achievement by reaching approximately break-even in free cash flow during the second half of 2023. This aligns with the company's financial guidance and indicates a balanced approach to managing cash inflows and outflows, which is essential for sustainable growth.

The year 2023 was a testament to Just Eat Takeaway.com's resilience and strategic prowess in the competitive online food delivery market. The company has set a high benchmark for the industry with record-breaking performances in critical regions, surpassing EBITDA expectations and maintaining a stable financial status.

Jitse Groen, CEO of Just Eat Takeaway.com, said: “We are excited that both our Northern European and UK and Ireland segments have achieved their all-time high quarterly GTV level, showing the strength of our European business. At the same time, we have achieved a significant milestone with the Company now becoming free cash flow positive. We are very much looking forward to 2024.”

Just Eat Takeaway (JET) share price. 

The Just Eat Takeaway (JET) share price rose 1.97% to trade at 1167.0p from Tuesday’s closing price of 1144.5p. 

On Thursday, Bank of America raised its rating for Just Eat to buy from neutral, noting the company's improved profitability and strong balance sheet. They also feel the company's shares are undervalued.