Just Eat Takeaway, the largest meal-delivery company in the E.U. recorded a positive EBITDA of $158 million for the first half of calendar 2023 compared to a loss of $147 million for the corresponding period in 2022. Management attributes the swing in earnings to containing costs and rationalization of operations.

Meal delivery companies are facing declining orders during the post COVID period and with customers exercising discretion over expenditures.  The company recorded a twelve percent decline in orders during the period to $450 million consistent with projections.

Just Eat Takeaway is currently exploring “strategic alternatives” for their U.S. Grubhub subsidiary.