Press photo from Just Eat.
Just Eat UK and Ireland business ends 2023 with best quarter
The coming said it is ‘becoming free cash flow positive’.
Just Eat Takeaway.com said it ended 2023 with the highest-ever quarterly Gross Transaction Value (GTV) level for Northern Europe and UK and Ireland.
GTV represents the total value of orders placed on our platform, including taxes, tips and any applicable consumer fees
The group saw a 5% increase in GTV in UK and Ireland in the fourth quarter (Q4) of 2023 compared to a year before. Meanwhile, Northern Europe GTV increased 5% compared to 2022.
Total GTV for the whole business dipped by 5% in Q4, dragged down by drops in GTV on Just Eat’s Southern Europe and ANZ business (17%) and North America (15%).
For the full year, GTV fell by 6%.
“We are excited that both our Northern European and UK and Ireland segments have achieved their all-time high quarterly GTV level, showing the strength of our European business. At the same time, we have achieved a significant milestone with the company now becoming free cash flow positive. We are very much looking forward to 2024,” Jitse Groen, CEO of Just Eat Takeaway.com said.
