StockMarketWire.com - Online food delivery marketplace Just Eat Takeaway.com upgraded its annual outlook on performance, driven by the removal of fee caps in the US and Canada, improved operational performance.

Order growth forecast for 2021 was lifted to more than 45% from previous guidance of more than 42% order growth, with gross transaction value expected to be in a range of €28 to €30 billion.

For the full year 2021, management expects Just Eat Takeaway.com to generate an adjusted earnings before interest, taxes, depreciation and amortisation, or EBITDA, margin in a range of -1% to -1.5% of gross transaction value.

Just Eat gained online share in the UK, including a significant inflection in London with triple-digit order growth in the first half of 2021 compared with the first six months of 2020.

Delivery order growth in the UK was 733% in the first half of 2021 compared with the same period in 2020.

Overall order growth was up 51% in the first half year, with gross transaction value of €14.1 billion.

'Management believes that adjusted EBITDA losses peaked in the first half of 2021 and expects its adjusted EBITDA margin to improve going forward,' the company said.

'We therefore expect the company to trend back to profitability going forward while retaining significant growth during the second half of the year,' it added.


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