<\/p>\n
Prosus NV is targeting $3.6 billion in revenue from Just Eat Takeaway.com in a year as it looks to boost efficiency in its European food-delivery business at a time of rapid consolidation in the sector.<\/p>\n
The Dutch technology investor also expects Just Eat to generate $100 million in adjusted earnings before interest, taxes, depreciation, and amortisation by the end of its 2027 financial year, which falls in March, Chief Executive Officer Fabricio Bloisi said in a shareholder letter released Tuesday.<\/p>\n
Prosus bought Just Eat last year in a deal that expanded its food-delivery portfolio into Europe. The business operates in 15 markets, including the UK, Germany, and the Netherlands.<\/p>\n
\u201cAfter four years of decline, we expect to return Just Eat Takeaway.com to orders and revenue growth by the end of the year,\u201d Bloisi said in the letter.<\/p>\n
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As part of Prosus\u2019s bid to acquire Just Eat, the company made a commitment to the European Commission last August to sell most of its 27% stake in rival Delivery Hero over competition concerns. Prosus said on Monday that it was offloading 5% of that stake to Hong Kong\u2019s Aspex Management after selling a 4.5% stake to Uber Technologies last month.<\/p>\n
Bloisi said Prosus\u2019s large commerce model would drive efficiencies in Just Eat\u2019s business, with market tests showing overall order volumes growing more than 25% annually in some cities.<\/p>\n
Prosus is also accelerating its investment in its Ifood business in Brazil, which will see it reduce its adjusted Ebitda guidance to between $100 million and $150 million for the 2027 year, said Bloisi.<\/p>\n
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Overall, Bloisi said Prosus met its guidance of $7.3 billion in revenue and $1.1 billion in e-commerce adjusted Ebitda for its 2026 financial year, excluding contributions from Just Eat and French online auto trader La Centrale, its other European acquisition. La Centrale will add to the group\u2019s classified business OLX, which hit its adjusted Ebitda target of more than $450 million for the current financial year.<\/p>\n
The company disposed of $2 billion in non-strategic assets during the year, and generated another $700 million through the sale of part of its stake in Delivery Hero for the 2027 financial year, said Bloisi in the letter.<\/p>\n
Prosus continues to repurchase its shares at a $5 billion annual run rate, which will return $50 billion to its shareholders across the company and its South African parent, said Bloisi.<\/p>\n
\u00a9 2026 Bloomberg<\/p>\n
#Prosus #targets #3.6bn #billion #Eat #sales #Euro #push<\/p>\n","protected":false},"excerpt":{"rendered":"
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