just eat takeaway earnings call transcriptaudit assistant manager duties and responsibilities
Theres no under penetration of Northern Europe. Youre adding more reference and more partners that might or might not have any volume. And in the end, is also good for periods in New York. While we already serve a big part of the population in our markets, we still have significant further headroom for growth, both from increasing penetration and frequency. But where in the financial statements do you want us to judge you? Hi, Miriam. Weve engaged in many pilots to prove value and operational fit to these retailers. Management expects to deliver a positive adjusted EBITDA for approximately 225 million in 2023. To conclude, our business has become much healthier in 2022 and our ambition to create a highly profitable food delivery business is firmly on track. It's a very good question. Just Eat Takeaway.com N.V. (TKAYF) Earnings Transcripts | Seeking Alpha Investing Groups Portfolios Find & Compare TKAYF Just Eat Takeaway.com N.V. Earnings Call Transcripts. We have quite an expansion plan for it. Transcript : Just Eat Takeaway.com N.V., 2022 Earnings Call, Mar 01 I think overall, the development that weve seen in the U.S. market is for the fee caps to turn into something like a minimum fee to deliver food and then separately, marketing fees. Some of our competitors were even more or less forced to stop pooling, while we could continue because they were actually happy with the way how we are operating with this and how we are managing the pooling. Penetration of our brand is still low in most of them, and the highest level of penetration is in the UK and Ireland segment, where 32% of the adult population use our services. Just Eat Takeaway.com Stock Forecast, Price & News (OTC:JTKWY) - MarketBeat This article is reserved for subscribers. We have a high quality business, and we've spoken about this before, not every food delivery business is going to yield such significant profit, but we believe that we own a lot of this sort of business because also within the Northern European segments, obviously, there are plenty of countries that are profitable, not talking about EBITDA positive, I'm talking to pure profit. To your grocery question, not going to disclose the level of investment, but lets say that we have good control over that EBITDA target. Just wondering what youre seeing from them in Germany. Please follow me to the next slide where I will summarize our capital structure. The next slide covers head office costs, such as staff and project expenses for global support teams. If we could have a rough idea as to whether or not this is sensible mathematically or whether you have any objections to that that would at least give us an idea as to how many delivery orders we are talking about in New York? Transcript : Just Eat Takeaway.com N.V., Q4 2022 Sales/ Trading Headquartered in Amsterdam, the Company is focused on connecting consumers and restaurants through its platforms. I hope youre well to that question, I cant comment on current trading. Just Eat Takeaway.com N.V. (JTKWY) CEO Jitse Groen at Q2 2022 Results - Earnings Call Transcript Aug. 03, 2022 1:02 PM ET Just Eat Takeaway.com N.V. (JTKWY) , TKAYF And therefore, its very important to us, but also to restaurants that they are able to market themselves on our business because if not, you basically create a situation in which there is no more competition between restaurants. So just interested in Northern Europe, in particular, where partner numbers were a bit more flat. We are improving our business quite a bit. But if you can just tell us a little bit about more about this and how we should think about this in terms of like what percentage of orders can you actually pool in like, I dont know, five, six years time? We are, of course, in many countries, the largest partner, for instance, for McDonalds. Just Eat Takeaway.com N.V. mainly collaborates with delivery restaurants. Please go ahead. Our GTV was stable in 2022 compared with the prior year, despite challenging post pandemic circumstances. The latter two actually increasing versus 2021, while some of our other established markets, such as Austria, Denmark, Ireland, Australia, remained steady in 2022. Transcript : Just Eat Takeaway.com N.V., Q4 2022 Sales/ Trading Statement Call, Jan 18, 2023 Thank you, Jrg, and good morning, everyone. And the only thing that we can do from our position is to wait the outcome of that process. We have still quite some platforms that are separated. Just lastly, on Slide 14, Id like to talk just briefly about the encouraging progress of our grocery propositions. I think its a Dutch thing and not knowing how to talk to investors. As a reminder, these groceries are all store picked by the retailer and then collected by our couriers. Adjusted EBITDA will be the largest contributor to the improved cash generation in 2023. And therefore, we are investing in that quite a bit also to provide service to national partners. 17, 2021 2:52 PM ET Simple Meals Takeaway.com N.V. (JTKWY), TKAYF 1 Comment 1 Love. Revenue increased to 5 billion to 6 billion in 2022, representing a growth rate of 4% compared with 2021. And the company is looking a lot better than, for instance, the beginning of last year. The follow-up you said was your comment on investment in grocery. Transcript : Just Eat Takeaway.com N.V., H1 2021 Earnings Call, Aug 17 Look, in the end, I think what politicians are trying to do is to make sure that there are reasonable prices to provide the delivery. It's as important to you. These tech advances include improved order flows and algorithm optimization, allowing us to optimize when a restaurant receives the order, when a courier has dispatched and when we expect the courier to be back on the street open for a new delivery. The information services provider reported ($0.56) EPS for the quarter, missing analysts' consensus estimates of ($0.23) by $0.33. The UK and Ireland segment contribute the largest absolute improvement of adjusted EBITDA and Southern Europe and ANZ provided the greatest improvement of adjusted EBITDA relative to its GTV. The fully loaded net cash flow shown here before refactoring financing and M&A activity was approximately 500 million negative. The combination of Just Eat and Takeaway.com has rapidly grown to become a leading online food delivery marketplace with operations in the United States, the United Kingdom, Germany, the Netherlands, Canada, Australia, Austria, Belgium, Bulgaria, Denmark, France, Ireland, Israel, Italy, Luxembourg, New Zealand, Poland, Slovakia, Spain and Switzerland, as well as through partnerships in Colombia and Brazil. Auger. At the same time, this is caused by getting out of a pandemic. I will end the presentation with some concluding remarks, after which we will open up the call for your questions. During the pandemic, we truly scaled our own delivery business with growth rates of over 500% year-over-year in some markets. Is that still your expectation? Sorry, Jorg. So thats why its skewed towards the end of the year. Just Eat Takeaway.com N.V. (JTKWY) Q4 2022 Earnings Call Transcript And once we reach that point, we ultimately also should become net income positive. Just Eat delivers right takeaway orders, finally | Nasdaq So thinking longer term here rather than just 2023 discussion about being profitable, but obviously, if we put in depreciation or CapEx or whatever you want to put in, clearly still negative numbers. So we need to make up for that before you will see year-over-year growth. [Operator Instructions] I. well as providing additional explanation on our cash position and free cash flow generation. And perhaps if you could just sort of update us on the overall proposition in Germany, how that is looking in terms of the app experience, selection, delivery times, et cetera? That means that we start the year with less orders than when we started last year. The Misconception - Just Eat Takeaway - Newmoon Capital - Substack We serve by far the most cities, and were going to expand the cities in which were active. Elsewhere, our extensive partnership across all UEFA competitions includes the Champions League, House and support drive brand visibility while commissions of customers watch European football, obviously, a key ordering moment. Image source: The Motley Fool.. We remain focused on disciplined head office spend in 2023. We made notable progress improving our courier productivity. In North America, we scale with partners such as Rite Aid, who have a very extensive footprint and Gopuff in the U.S. Whilst in Canada, were very pleased with the evolution of our own dark store chain, Skip Express Lane, where we added 15 more express stores in 2022, allowing us to cover just shy of 60% of all SkipTheDishes users. And McDonalds of course, wants us to deliver in the most cities possible. Now it has to pass through the New York City Council. Good morning. I dont think that any government that says, okay, you cant promote your business because obviously, theres many ways of promoting your business for restaurants. Please note this call is being recorded. And thats also similar in Canada. All rights reserved. This article is reserved for subscribers. This article is reserved for subscribers. We expect to see a reduced net interest cost in 2023. This article is reserved for subscribers Okay. This chart on Slide 8 covers all of our markets outside of the U.S. 7 May 2020: Q1 2020 Earnings Call Transcript Q4 2019. Transcript : Just Eat Takeaway.com N.V., H1 2022 Earnings Call, Aug 03, 2022 08/03/2022 | 04:30am EDT Hello and welcome to the Just Eat Takeaway.com Half Year 2022 Results Call. I think jitse is very poor at handling Wall Street. The next question comes from Silvia Cuneo from Deutsche Bank. Just Eat Takeaway.com (@JustEatTakeaway) / Twitter I will now hand you over to Jitse Groen, CEO. There is some technical improvements we will make also on the multi-restaurant [ph] pooling side, we will make some advancements, which will drive that percentage further up. On the left side shows that right across our European markets, our brand remains far and away the most recognized food delivery player. In Northern Europe, we increased and segment GTV by 3% and revenue by 9% on a year-on-year basis. Yes, thank you. And therefore, you should expect growth from food delivery business in general, but also from ourselves. I wonder if you could comment on the how marketplace and delivery has trended over 2022 and where you kind of ended up with the mix across the business. Just Eat Takeaway.com N.V. (GRUB) CEO Jitse Groen on Q2 2021 Results GRUB Just Eat Takeaway.com N.V. Q2 2021 Earnings Call Just Eat Takeaway.com N.V. mainly collaborates with delivery restaurants. To round off this slide, we were adjusted EBITDA positive in three out of the four operating segments in the second half of 2022. Can you give us a sense, what is the level that youre thinking? Tech enablements remain the biggest carrier with improved productivity mechanisms, further pooling rollout, router algorithm optimization, and many others that will contribute to further efficiencies and improvement in consumer experience. So if you ask me, what do you need to judge us on, well, it's GTV growth and it is profitability growth, and I think we're delivering both at this point in time, and we'll deliver more in the future. Earnings Call Presentation. So you also should not expect us to change the EBITDA guidance based on this. Today's Change (-3.35%) -$7.12 Current Price $205.73 Price as of June 7, 2023, 4:00 p.m. So you talked about growth being skewed towards the end of the year on GTV. We expect cash flow to improve. This segment contains many of our less mature markets, where we are making confident steps on our path to profitability. As a reminder, unless mentioned, all figures in the financial section include wrap-up from the 1st of January 2021 and exclude to cease operations in Norway, Portugal and Romania from the 1st of January 2022. Hi, good morning. We've never said that it would stop at 5%. ET OTLY earnings call for the period ending June 30, 2022. In addition, the loss for the period includes a noncash book loss of 275 million on the sale of iFood. Thanks. Call Transcripts; Guidance; . In addition, Just Eat Takeaway.com N.V. provides its proprietary restaurant delivery services for restaurants that do not deliver themselves. Just Eat Takeaway.com delivered a material improvement in profitability as we generated adjusted EBITDA of 19 [ph] million in 2022 compared with minus 350 million in 2021. Just Eat Takeaway.com has announced the start of a share buyback programme to improve future earnings per share under which it plans to repurchase ordinary shares in the . In Northern Europe, where the partnership model with aggregators is a little less mature than markets, certainly such as the likes of the UK and North America. Theres a lot of cost there that would not exist if we get a couple of things done. Please. We're not there yet in all the other segments, but we're moving in the right direction there. On our corporate website, you can download our press release and the slides for this analyst and investor conference call. The combination of Just Eat and Takeaway.com has rapidly grown to become a leading online food delivery marketplace with operations in the United States, the United Kingdom, Germany, the Netherlands, Canada, Australia, Austria, Belgium, Bulgaria, Denmark, France, Ireland, Israel, Italy, Luxembourg, New Zealand, Poland, Slovakia, Spain and Switzerland, as well as through partnerships in Colombia and Brazil. That doesnt help, of course. So we do have quite a lot of improvement still in the pipeline against a headwind of the wage cost inflation, they will face basically every business in most of the world. Thanks. The improvements in the revenue less fulfillment cost came from both marketplace and delivery and in each of our operating segments. [Operator Instructions] I will now hand you over to your. All rights reserved. Your next question comes from Jo Barnet-Lamb from Credit Suisse. Now Slide 9. Id again like to set the scene first. So these are good developments. I do want to stress that we have the largest delivery network in Europe. Please follow me to the next slide where we summarize the overall cash flows from 2022 and how they expect to develop in 2023, before we cover each year in more detail on the following two slides. Please follow me to Slide 4. So were investing a lot of money into improving our business. Q4 2022 Earnings Call 2023-03-01 01:00 am Q4 2022 Earnings Release 2023-01-18 04:30 am . https://seekingalpha.com/article/4529204-just . My name is Jess, and I'll be your coordinator for today's event. Encouragingly, this top-of-mind brand leadership position remains very strong in core markets such as the UK, Germany, and the Netherlands. Just Eat Takeaway.com (GRUB) Stock Forecast, Price & News We therefore consider free cash flows, excluding working capital to get a better view of underlying performance. My name is Caroline, and I will be your coordinator for today's event. Thats actually quite a good business. Our priority for 2022 lies in enhancing profitability and strengthening our business. So first off, its not really seasonality thats causing the growth to be skewed to the end of the year, its more of a mathematical thing. In some markets we even exceeding 30%. I hope you can see that also in the presentation. Last year, we launched over 2,000 sites and grew our UK population coverage by 3x to 70%. 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Thank you very much. Turning to the next slide. So it really does cool for quite a different user experience. It actually went up in Germany. And our general aim in the business is to get to no burn of cash as soon as we possibly can. Please go ahead. Its an increase of wages of the staff because of inflation of the last year. 136.52K Followers. Our focus on optimizing spend below fulfillment cost also assisted in significant and sustainable gains in adjusted EBITDA with that metric improving by 370 million year-on-year. My name is Courtney, and I'll be your coordinator for today's event. Excluding the impact of impairments and the book loss on the iFood stake, the loss for the period 2022 amounted to 792 million compared to a loss of 990 million in 2021. Now that growth, of course, is going to be very valuable in countries such as Germany and Holland because this is very profitable growth, but it's also going to be quite valuable in other parts of our businesses in which we're becoming far more profitable. So doing a bunch of stuff, were very comfortable around the EBITDA. And if the volume, of course, if youre adding a grocery chain, youre adding a lot of volume because people know those grocery change, but if you add just a single fuel station, youre not going to generate a lot of orders. Get it now with Premium JTKWY Just Eat Takeaway.com N.V. Stock. So on Slide 12, on the partner side, we had another positive year of progress, closing out the year with over 690,000 partners across our 20 markets, reflecting a net growth of just shy of 10% year-over-year. In Germany, we also expanded our European dark store experiment by opening our second store in East Berlin, so we now cover 50% of the citys Lieferando users and these sites are being very well received by consumers. Please follow me to Slide 4. We, however, after approximately 80% of the addressable population, and in most countries, we are best placed to achieve that target. At the moment, for our markets, its like enabled basically for all our restaurant partners. I would also specifically go out Australia, which now delivers strong positive unit economics, which have been a focus of investment for the last few years. With over 692,000 connected partners, Just Eat Takeaway.com N.V. offers consumers a wide variety of food choice. Transcript : Just Eat Takeaway.com N.V., H1 2022 Earnings Call, Aug 03, 2022, JUST EAT TAKEAWAY.COM : Goldman Sachs remains Neutral. We obviously shrank last year. Transcript : Just Eat Takeaway.com N.V., 2022 Earnings Call, Mar 01, 2023 03/01/2023 | 04:30am EDT Good day, and welcome to the Just Eat Takeaway.com Full Year 2022 Results Call. Yes, that would be my question. Just Eat Takeaway.com N.V. (JTKWY) Earnings Transcripts This is a long-term target that we set for the entire business. Good morning, and welcome to this analyst and investor conference call to discuss the full year 2022 results for Just Eat Takeaway.com. Were not done yet. Is there a retail? Thanks a lot. Southern Europe and ANZ. And indeed, when profitability increase, we ultimately will also become cash flow positive. Presentation Operator MessageOperator (Operator)Good day, and welcome to the Just Eat Takeaway.com Full Year 2022 Just Eat Takeaway.com N.V. is a leading global online food delivery marketplace. And maybe Im insulting Germans a bit, but I think the Germany is like a big Holland. For us, the aim of the exercise is we want to be able to take a country like Holland, right? The average for all of them is somewhere in between, obviously, and were continuing to push for further rollout of pooling opportunities. 30 July 2019: CEO Matthew Maloney on Q2 2019 Results - Earnings Call Transcript Q2 2019. And of course, these countries are larger than Holland, which is usually the reason that these markets are not profitable. of the analysts. And thats a development that we have seen, for instance, in San Francisco, but also in Seattle and a couple of other cities. So I understand that youre probably going to be a little bit reluctant to give very specific answers. About OTC:JTKWY Just Eat Takeaway.com (JTKWY) Stock Forecast, Price & News $3.03 0.00 (0.00%) (As of 06/30/2023 ET) Compare Today's Range $2.99 $3.04 50-Day Range $2.66 $3.67 52-Week Range $2.33 $5.69 Volume 138,704 shs Average Volume 228,973 shs Market Capitalization $3.33 billion P/E Ratio N/A Dividend Yield N/A Price Target $1,600.32 Follow. Thanks for taking my question. On the revenue side, we optimized pricing and also widen the delivery radius in some of our key markets to be able to offer our consumers an even wider choice, leading to an increase in delivery fee revenues. Youre talking specifically about Wolt. And of course we also have a huge marketplace business. And with that, I hand over to Jitse for the conclusions of the presentation. So you can invest quite a bit of money into that sort of trajectory. Unit economics are key to the long-term financial success of the business, but you cannot be profitable for a cash generation without a strong unit economic base. Okay. Great. LONDON (Reuters Breakingviews) - Food delivery boss Jitse Groen has started the new year with a glimpse of hope. But youll see us talk a lot about it in the future going forward, and we need to expand our network now. Flipping to Slide 5. So we might have multiple systems. These strengths allow us to make optimal long-term decisions, both operationally and with our capital structure. Food delivery businesses like ourselves, but also our competitors provide a very economical way to promote restaurants and therefore, its a sensible thing for governments to stay out of. And therefore, we are making sensible investments. So now Im going to hand it over to Jrg, who will highlight the progress across our operational pillars. So theres a lot of things working against each other there, but that is going to be, I think, different from, lets say, H2 last year. Moving to 23 with adjusted EBITDA increasing as we guided. This 100 million adjusted EBITDA improvement compared with prior year was driven by higher ATV, optimized pricing strategy, reduced delivery expenses, and improved operating expenses. But I suppose just to push a point a bit more. Im just wondering if you could give us a bit more color on the current trading. Early indications are very encouraging in terms of customer metrics, particularly around frequency and incrementally. Given the nature of our working capital cycle where we receive the growth transaction value ahead of paying our partners working capital, cash flows are posted over time, which are subject to volatility based on [indiscernible]. We did this whilst improving consumer experience, especially for on-time arrival at both customers and partners. Thats the first one as a follow-up. I would like to ask my question about the groceries business. Quebec, its a similar story. Thank you, and good morning, everyone. We can do that because were a very profitable business in Germany. During the pandemic, we've seen a period of exceptional growth, and while exiting the pandemic has resulted in reduced order volumes, consumers acquired during the pandemic are proving to be very loyal. However, this will be offset by payment to the damage tax authorities of 36 million in 2023. So overall, a very good proposition and a win-win for all basically partners, consumers, and ourselves. These impairments were mainly driven by macroeconomic factors, such as increasing interest rates and technical valuation metrics. I know and just also what Andrew was talking about, we see tremendous growth, for instance, in grocery, but its very small for our business. Regarding EBITDA, the most significant change is going to be, and thats the same for any business. The question is around you grew total group partners by around 10%, but that looks to largely have come from North America and the UK as well. I will start today's presentation by taking you through the highlights of 2022, and I will share some additional background on the results of our investment in sustainable growth during the pandemic and how this ties into our ambition to create a highly profitable global food delivery business. Thank you. The company is, therefore, well fined to execute its fast profitability with a manageable debt security profile. On the UK, I think its just worth quickly focusing on that market, which saw the most pronounced gains through 2022 and where rollout continues at pace across both partnerships with national grocery brands as well as independent convenience players. On the right-hand side of the slide, this has all been supported in part by our successful Did Somebody Say brand platform, which kicked off back in 2020 with Snoop Dogg and has enjoyed significant success with the current iteration led by Katy Perry, which we launched last year across 17 markets in 16 different languages. March 02, 2022 at 04:30 am Presentation Operator MessageOperator (Operator)Good morning, ladies and gentlemen. Weve also invested in improved inventory management features to improve order accuracy and the partner functionality, ultimately to improve their efficiency and accuracy, and that journey will very much continue at pace through 2023. Published Aug. 4, 2022 Julie Littman Senior Reporter Just Eat Takeaway, which bought Grubhub in 2021 for over $7 billion, is still actively exploring the full or partial sale of the company as of August 2022. But I think more importantly, its a positive for consumers in New York because it will create lower delivery fees for consumers in the city.