Just Eat Takeaway posts 36% growth in 2024 core profit

Just Eat Takeaway.com TKWY on Monday reported a 36% rise in its annual core profit on improvement in the key UK and Ireland markets, mainly due to lower costs of fulfilling orders and more efficient marketing.

"We advanced our products, further expanded our partner base, particularly in verticals like grocery, electronics, and pharmacy," CEO Jitse Groen said in a statement.

Europe's biggest meal delivery firm said its adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose to 460 million euros ($484 million) in 2024, from 339 million a year earlier.

The company forecast constant currency growth of 4% to 8% in its gross transaction value (GTV) in 2025, excluding the Rest of World segment.

It also sees adjusted EBITDA of between 360 million to 380 million euros and a free cash flow of about 100 million euros this year.

In a separate press release, Dutch technology investor Prosus PRX said it had agreed to buy Just Eat for 4.1 billion euros through an all-cash offer fully supported by the delivery firm's board.

($1 = 0.9512 euros)