Just Eat Takeaway: Top Line Mostly in Line With Upgraded Profit Guidance

Just Eat Takeaway's fourth-quarter total orders fell 7% year over year (versus down 12% in the first half and 9% for the year) and gross transaction value declined 3% (versus down 7% in the half and 4% for the year in constant currency). The main detractors remain the Southern Europe, Australia, and New Zealand markets, with orders down 16% year over year, and the North America market, down 13%. GTV improved in the important Northern Europe market (up 4% year on year versus 2% in the half and 3% for the year) and the U.K. and Ireland market (GTV up 5% versus down 3% in the half and 3% for the year), building on the positive momentum in the second and third quarters.