Just Eat Takeaway: Vague FY 2024 guidance, poor growth/FCF profile in sight
Alongside the FY 2023 publication, we remain shocked by the vague FY 2024 guidance, which excludes North America (30% of the business). We see scope for the consensus to upgrade EBITDA, but also to cut sales and FCF. In a still-unanswered valuation debate within the food delivery sector, JET remainTakeaway.com NV. Takeaway.com NV, formerly Takeaway Com Holding BV, is a company based in the Netherlands that operates an online food delivery marketplace. The Company focuses on connecting consumers and restaurants, and allows users to order food from nearby restaurants and have the food delivered to their homes. The Company transmits the order placed by customers and forwards it to restaurants, which prepare and deliver the meal. It is present in Portugal, France, Switzerland, Austria, Luxembourg, Belgium, the Netherlands, Germany, Poland, Bulgaria, Romania and Vietnam, and operates the Websites Lieferando.de, Lieferservice.at, Lieferservice.ch, Pizza.be, Pizza.fr, Pizza.lu, Pizza.pl, Pyszne.pl, BGmenu.com, Oliviera.ro, Takeaway.com, Thuisbezorgd.nl and Vietnammm.com. The platforms feature various kinds of restaurants.
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