Latest news with #DeliveryHero
The Independent
2 days ago
- Business
- The Independent
Just Eat profits dip following fewer takeaway orders
Just Eat has revealed a dip in sales for the current year, indicating that annual earnings for the takeaway giant could be lower than previously thought. The news emerges as the Dutch food delivery firm awaits approval for its €4.1 billion (£3.6 billion) acquisition. For the first half of 2025, total revenues stood at €1.75 billion (£1.51 billion), a slight dip from the €1.78 billion (£1.54 billion) recorded a year prior. Just Eat said there had been a lower volume of orders, but that this had been partially offset by it earning more money from orders and advertising revenues. Gross transaction value (GTV) – the total value of transactions – grew 2 per cent year-on-year, excluding non-European operations. Positively, the UK and Ireland markets saw GTV increase by 3 per cent. Adjusted earnings in these regions, before tax, interest, and other costs, also jumped by a third. The company's financial outlook remains under review as it progresses towards its proposed takeover. However, Just Eat told investors it was expecting GTV and adjusted earnings to be 'at the lower end' of the range forecast by analysts for 2025. GTV is set to grow by between 4 per cent and 8 per cent over the year while earnings are forecast to come in between 360 million euros (£311 million) and 380 million euros (£329 million). Meanwhile, Just Eat has agreed to be taken over by South African -owned firm Prosus, which is an investor in German rival Delivery Hero. The two firms reached a deal earlier this year but shareholders have been given until October to accept the offer while it comes under review by European regulators. Just Eat needs clearance from the European Commission for the tie-up to proceed, with the body expected to give its decision by August 11. When the deal was announced, the firms said Just Eat would continue to be based in Amsterdam under its current name and would maintain its key brands. Prosus said it would be the fourth largest food delivery group in the world following the takeover. Jitse Groen, Just Eat's chief executive and founder, said on Wednesday: 'We see good progress in the expansion of our delivery network and have ramped up our marketing efforts, which we believe are necessary investments to support future growth.'
The Independent
2 days ago
- Business
- The Independent
Just Eat sales dip as it warns yearly earnings to be at ‘lower end' of forecasts
Just Eat has revealed a dip in sales this year and said annual earnings could be lower than previously thought, as the takeaway giant awaits approval after agreeing to be bought for 4.1 billion euros (£3.6 billion). The Dutch food delivery firm said it made total revenues of 1.75 billion euros (£1.51 billion) over the first half of 2025. This was slightly lower than the 1.78 billion euros (£1.54 billion) generated over the same period a year ago. Gross transaction value (GTV) – an industry metric for the total value of transactions on platforms, including things like delivery costs – grew by 2% year on year, excluding its operations outside Europe. Just Eat said there had been a lower volume of orders, but that this had been partially offset by it earning more money from orders and advertising revenues. In the UK and Ireland, GTV increased by 3% while its adjusted earnings, before tax, interest and other costs, jumped by a third compared with last year. However, Just Eat told investors it was expecting GTV and adjusted earnings to be 'at the lower end' of the range forecast by analysts for 2025. GTV is set to grow by between 4% and 8% over the year while earnings are forecast to come in between 360 million euros (£311 million) and 380 million euros (£329 million). Meanwhile, Just Eat has agreed to be taken over by South African-owned firm Prosus, which is an investor in German rival Delivery Hero. The two firms reached a deal earlier this year but shareholders have been given until October to accept the offer while it comes under review by European regulators. Just Eat needs clearance from the European Commission for the tie-up to proceed, with the body expected to give its decision by August 11. When the deal was announced, the firms said Just Eat would continue to be based in Amsterdam under its current name and would maintain its key brands. Prosus said it would be the fourth largest food delivery group in the world following the takeover. Jitse Groen, Just Eat's chief executive and founder, said on Wednesday: 'We see good progress in the expansion of our delivery network and have ramped up our marketing efforts, which we believe are necessary investments to support future growth.'
Yahoo
4 days ago
- Business
- Yahoo
EU regulators seek feedback on Prosus' offer to sell down Delivery Hero stake
By Foo Yun Chee BRUSSELS (Reuters) -EU antitrust regulators are seeking feedback from third parties on Prosus' offer to slash its Delivery Hero stake to below 10% to address EU concerns about its 4.1 billion euro ($4.77 billion) Just Eat Takeaway deal, a person with direct knowledge of the matter said on Monday. Amsterdam-headquartered Prosus has proposed incrementally selling down its 27.4% stake in Delivery Hero and giving up its board seat, other people familiar with the matter told Reuters earlier this month. The company, which is majority owned by South Africa's Naspers, is banking on its AI capabilities to boost Just Eat Takeaway, Europe's biggest meal delivery firm. The European Commission, which acts as the competition enforcer in the 27-country bloc, did not detail the size of the stake to be sold off in the document sent to third parties, the person said. Respondents have until July 31 to reply. The Commission, which will decide on the deal by August 11, declined to comment. Prosus was not immediately available for comment. Delivery Hero and Just Eat Takeaway compete with each other in Austria, Bulgaria, Italy, Poland and Spain. ($1 = 0.8587 euros) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
4 days ago
- Business
- Reuters
EU regulators seek feedback on Prosus' offer to sell down Delivery Hero stake
BRUSSELS, July 28 (Reuters) - EU antitrust regulators are seeking feedback from third parties on Prosus' offer to slash its Delivery Hero ( opens new tab stake to below 10% to address EU concerns about its 4.1 billion euro ($4.77 billion) Just Eat Takeaway ( opens new tab deal, a person with direct knowledge of the matter said on Monday. Amsterdam-headquartered Prosus has proposed incrementally selling down its 27.4% stake in Delivery Hero and giving up its board seat, other people familiar with the matter told Reuters earlier this month. The company, which is majority owned by South Africa's Naspers (NPNJn.J), opens new tab, is banking on its AI capabilities to boost Just Eat Takeaway, Europe's biggest meal delivery firm. The European Commission, which acts as the competition enforcer in the 27-country bloc, did not detail the size of the stake to be sold off in the document sent to third parties, the person said. Respondents have until July 31 to reply. The Commission, which will decide on the deal by August 11, declined to comment. Prosus was not immediately available for comment. Delivery Hero and Just Eat Takeaway compete with each other in Austria, Bulgaria, Italy, Poland and Spain. ($1 = 0.8587 euros)
Morocco World
21-07-2025
- Business
- Morocco World
Moroccan Glovo Riders Rally Against Divided Sahara Map, Unfair Work Conditions
Rabat – On Monday, dozens of Glovo delivery riders took to the streets of Casablanca to protest deteriorating working conditions and to denounce the depiction of Morocco's Sahara region on the company's app. Wearing helmets and carrying their distinctive yellow delivery bags, the riders condemned Glovo for displaying a map that excludes the Moroccan Sahara and labels the area as 'Western Sahara.' This inclusion has been a breaking point for many workers who consider it an affront to Moroccan sovereignty. The protesters also reported that for months they have struggled under an unfair system where they are responsible for all expenses — including motorcycles, fuel, insurance, and equipment — while their earnings barely cover basic living costs. Glovo, which is 94% owned by the German company Delivery Hero, has faced scrutiny internationally. In June, Delivery Hero was fined €106 million by the European Commission for anti-competitive practices, including no-poaching agreements. Monday's protest is part of a broader wave of demonstrations. Since early July, delivery workers have organized spontaneous protests in multiple Moroccan cities, demanding fairer wages, insurance coverage, financial support for professional equipment, and recognition of their right to unionize. Despite mounting pressure, Glovo's Moroccan branch has remained silent, fueling frustration among riders who feel invisible to the company, yet essential to its business operations. Founded in Barcelona in 2014, Glovo rapidly expanded with backing from major investors, including Abu Dhabi's sovereign wealth fund. However, its business model — heavily reliant on precarious labor — is increasingly challenged by workers worldwide. This recent gathering is not the first; delivery riders have organized group protests since early July and show no sign of backing down until their demands are met. These protests highlight not only the political sensitivity surrounding Morocco's territorial integrity but also the growing social dissatisfaction with the realities of gig economy work in the country. Tags: glovoGlovo in MoroccoWestern sahara
