Food ordering firm Just Eat Takeaway.com has recorded a better than expected operating loss of €190 million for the first half of 2021.
Loss Forecast
Analysts in a company-compiled poll had forecast a loss before interest, depreciation and amortisation (EBITDA) of €218 million.
Sales Figures
Sales rose 52% to €2.61 billion, reflecting strong order growth during the COVID-19 pandemic. Figures were adjusted to reflect Takeaway's $7.3 billion acquisition of US peer GrubHub in June.
Just Eat Takeaway.com CEO Statements
Just Eat Takeaway.com CEO Jitse Groen said in a statement that Just Eat Takeaway.com invested significantly in operations in the first six months of this year.
"Our consumer base, restaurant selection and order frequency have strongly increased, which will lead to improved profitability going forward," Groen said.
Full-Year EBITDA Forecast
The company repeated its full-year forecast for an EBITDA loss of 1% to 1.5% of its gross transaction value, which was €14.1 billion for the six month period that ended on June 30, compared with €9.69 billion in the same period a year earlier.
iFood Stake Sale
Takeaway, which competes in various markets with Uber Eats, Deliveroo and Delivery Hero, said that it intends to sell its 33% stake in iFood of Brazil. However, it has rejected an offer of €2.3 billion as inadequate.
Shares
Takeaway shares closed at €72.25 on Monday August 16, down 22% in the year-to-date.
News by Reuters, edited by Hospitality Ireland. Click subscribe to sign up for the Hospitality Ireland print edition.
