LONDON (dpa-AFX) - Just Eat Takeaway.com N.V. (JET.L, GRUB), an online food delivery company, Wednesday reported that it was Adjusted EBITDA positive in the third quarter, materially ahead of prior guidance at the beginning of the year and is on track towards its long-term target margins.
Gross transaction value or GTV was up 2 percent in the third quarter to 6.92 billion euros from last year's 6.80 billion euros, driven by a higher Average Transaction Value and positive FX movements. GTV at constant currency rates, meanwhile, declined 5 percent.
Just Eat Takeaway.com processed 235.5 million orders in the quarter, down 11 percent from last year's 265.8 million orders, predominantly caused by the end of Covid-19 restrictions and, to a lesser extent, by reducing the number of low contribution Orders.
Further, as updated in late September, the company now expects positive Adjusted EBITDA in the second half of 2022, and GTV to grow by low-single digit year-on-year in 2022.
The company expects to maintain positive Adjusted EBITDA in FY 2023, and the long-term objectives for Just Eat Takeaway.com remain unchanged.
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