- Orders up 25% in the third quarter, ING forecast a 35% increase
- US orders up only 3%,company launches improvement plan
- Shares drop more than 4%
AMSTERDAM, October 13 (Hfrance.fr) - Orders lower than expected in Q3 at Just Eat Takeaway.com (TKWY.AS) Dropped Shares of Online Food Delivery Company on Wednesday, US Orders Only Rising 3% .
Shares of the company, which completed the $ 7.3 billion purchase of its US counterpart GrubHub in June, fell by 4.4% to 62.11 euros at 07:55 GMT, bringing losses this year to over 30%.
The total orders during the quarter rose 25% to 266 million, below the 35% increase expected by analysts at ING bank.
Growth in Great -Bretagne, the company's largest market, was 51%, but the lowest in the United States, now its second largest.
GrubHub chief executive Matt Maloney said last week he was planning to leave in December, and Just Eat Takeaway said on Wednesday he had launched an improvement program that refocused the business on the strongholds of GrubHub ".
In a statement, Group CEO Jitse Groen said: “With most of the world returning to pre-pandemic life, our growth in the third quarter of 2021 remained strong. Just Eat Takeaway.com is well positioned for fall and winter, our traditional growing season. "
In August, GrubHub a suffered a setback when New York City, its largest U.S. market, capped commissions and competitors can charge restaurants for useof their platforms to 15% of food orders for delivery. learn more
Takeaway competes with Uber Eats, (UBER.N) and Door Dash, (DASH.N) in the United States, and Deliveroo (ROO.L) and Delivery Hero (DHER.DE) in Europe, among others.
The company on Wednesday reiterated its annual forecast for a loss before interest, taxes, depreciation and amortization of 1% at 1.5% on a gross valuee transaction of 28 to 30 billion euros (32 to 35 billion dollars) for 2021, or a loss of 280 to 380 million euros.
In August, Takeaway reported an EBITDA loss of 190 million euros for the first half, but said he expected this number to improve in the second. semester. learn more
Gross transaction value in the third quarter, a common measure for e-commerce companies, increased by € 6.8 billion, or 21% , bringing the total over nine months to 20.9 billion euros.
($ 1 = 0.8657 euros) Report by Toby Sterling Editing by Kim Coghill and Mark Potter
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