Just Eat sales flatline after weaker-than-expected UK orders
The group revealed flat growth ahead of its proposed takeover by South African-owned firm Prosus.
Food delivery giant Just Eat Takeaway has revealed flat growth ahead of the firm’s planned takeover.
It came as the group revealed weaker-than-expected order numbers in the UK amid pressure on consumer spending.
The company is listed in Amsterdam after dropping its listing on the London Stock Exchange late last year in a bid to cut costs.
In February, Just Eat said it would become private again after agreeing to a 4.1 billion euro (£3.4 billion) takeover by South African-owned firm Prosus, which is an investor in German rival Delivery Hero.
On Wednesday, Just Eat told shareholders in a short update that the deal, which is subject to regulatory approvals, is expected to complete by the end of the year.
The firm also reported that its gross transaction value (GTV) – an industry metric for the number of transactions on platforms – was flat at 4.7 billion euros (£4 billion) for the first three months of 2025.
It said GTV rose by 3% year-on-year in the UK and Ireland, despite a 5% drop in the total number of orders in the region to 57.1 million.
Analysts at Panmure Liberum said transactions and orders were “weak” in every market, with UK order numbers “5% behind” a consensus from industry analysts.
Jitse Groen, chief executive of the company, said: “Our vision is to empower everyday convenience for our consumers, partners and couriers.
“We are delighted to make continued progress in adding huge variety of new partners to offer the widest possible selection for consumers anytime and anywhere.
“As announced at the full year 2024 results in February, Just Eat Takeaway.com will invest an additional 150 million euros to accelerate growth in 2025.”