Just Eat Takeaway.com told investors it is set to hit earnings targets as its performance ‘improved substantially’ in the final quarter of the year.
The company said it processed 1.1bn orders for 2021, a 33% increase compared to the previous year, with 274mln of these orders coming in the last quarter.
Orders were received despite the ‘dampening effect of restaurants reopening,’ the takeaway app operator said in a statement.
Earnings (adjusted EBITDA) margin for the year is expected to be at the midpoint of its guidance range, with its gross transaction value at €28.2mln, which is within the €28mln- €30mln range set earlier last year.
Jitse Groen, chief executive of Just Eat Takeaway.com said on the back of the merger between Just Eat and Takeaway.com two years ago, the company has “markedly improved our adjusted EBITDA throughout the second half of 2021, and we will make further improvements this year.”
Looking forward, the company said it will invest heavily in its London network to further improve profitability in 2022, with the UK and Ireland observed to be its fastest growing markets of 2021.
Meanwhile, talks are taking place with several strategic partners to strengthen the company’s position in the U.S.
Groen said he expected “market positions to strengthen further, driven by superior network effects."