# Just Eat Takeaway raises 2023 guidance, launches buyback
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2023-04-19
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Just Eat Takeaway Raises 2023 Guidance, Launches Buyback
Meta Description: Just Eat Takeaway.com NV raises its 2023 adjusted core profit outlook, expects adjusted EBITDA of 275 million euros, and launches a 150 million euro buyback
URL: https://financedigest.com/just-eat-takeaway-raises-2023-guidance-launches-buybackhtml

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# Just Eat Takeaway raises 2023 guidance, launches buyback

By Tristan Veyet and Laura Lenkiewicz

(Reuters) -Just Eat Takeaway.com NV raised its 2023 adjusted core profit outlook on Wednesday, saying it continues to make good progress on delivery-led operational improvements and is now ahead of plan.

Europe’s biggest meal delivery company expects adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) of 275 million euros ($301.6 million) in 2023. It had in January forecast adjusted EBITDA of 225 [million euros](https://www.financedigest.com/sp-global-fined-1-1-million-euros-for-premature-credit-rating-publications.html "S&P Global fined 1.1 million euros for premature credit rating publications").

Furthermore, the company said it expected its [gross transaction value](https://www.financedigest.com/delivery-hero-sees-higher-gross-merchandise-value-in-third-quarter.html "Delivery Hero sees higher gross merchandise value in third quarter") (GTV) growth to be in a range of -4% to +2% year-on-year in 2023.

The Dutch-listed online delivery group expects free [cash flow](https://www.financedigest.com/xerox-shares-slide-as-annual-revenue-cash-flow-forecasts-take-a-hit.html "Xerox shares slide as annual revenue, cash flow forecasts take a hit") to turn positive in mid-2024.

The food delivery sector was one of the big beneficiaries of the COVID-19 pandemic, but that [effect has waned as consumers](https://www.financedigest.com/consumer-durables-sector-still-feeling-the-effects-of-recession.html "Consumer durables sector still feeling the effects of recession"), faced with surging prices, have started to cut back spending.

The firm reported total orders of 227.8 million in a first-quarter trading update, 14% below last year’s level, and a GTV of 6.67 [billion euros](https://www.financedigest.com/mercedes-benz-to-buy-back-up-to-4-billion-euros-in-shares-by-2025.html "Mercedes-Benz to buy back up to 4 billion euros in shares by 2025"), down 8% year-on-year.

Just Eat Takeaway also said it [launched a share buyback programme of up to 150 million](https://www.financedigest.com/collegiate-ac-and-shuman-capital-launch-e300-million-european-student-living-fund.html "Collegiate AC and Shuman Capital launch €300 million European Student Living Fund") euros to be completed by the end of the year, citing an improvement of future earnings per share and covering the company’s obligations.

Since its IPO in 2016, Just Eat Takeaway’s share [price lost close to 30% of its original](https://www.financedigest.com/vhs-tapes-selling-for-46000-higher-than-original-price.html "VHS tapes selling for 46,000% higher than original price") value.

($1 = 0.9117 euros)

(Reporting by Tristan Veyet and Laura Lenkiewicz in Gdansk; Editing by Kim Coghill, Subhranshu Sahu and Varun H K)


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