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Just Eat Takeaway.com Backs FY21 View, Issues Longer Term Forecast; Stock Down

Online food delivery company Just Eat Takeaway.com N.V. (JET.L, GRUB) Thursday reiterated its guidance for the full year 2021. In its trading update, ahead of its virtual Capital Markets Day today, the company also announced longer term targets. In London trading, the shares were losing around 2 percent.

For the year 2021, the company continues to project order growth, excluding Grubhub, above 45 percent year-on-year. Gross Transaction Value or GTV including Grubhub on a combined basis is still expected to be in a range of 28 billion euros to 30 billion euros.

Further, the company continues to expect adjusted EBITDA margin, including Grubhub on a combined basis, in a range of minus 1 percent and minus 1.5 percent of GTV.

In 2022, GTV, including Grubhub on a combined basis, is expected to grow by mid-teens percentage points year-on-year.

The company said the year 2021 will be the peak year of losses, with 2022 adjusted EBITDA margin improving to the range of minus 0.6 percent to minus 0.8 percent of GTV.

Just Eat also said in excess of 30 billion euros of GTV will be added over the next 5 years.

Further, long term group adjusted EBITDA margin is expected in excess of 5 percent of GTV.

The company also announced changes to its reporting structure, to better reflect its existing organisational and management structure. From January 1, 2022, the Company intends to report in four regional segments.

In London, Just Eat Takeaway.com shares were trading at 5,923 pence, down 2.18 percent.

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