Just Eat Takeaway.com NV is a world’s leading online food delivery marketplace headquartered in Amsterdam. It connects consumers and restaurants via its platforms. After the merger of Just Eat and Takeaway.com, the combination has rapidly grown to become a leader in the industry in the UK, the Netherlands, Germany, France, Denmark, Norway, and many others.
Strong growth in 2019!
The Dutch online food ordering service has reported strong growth and a small core profit for 2019, which is the last year before the takeover of its British peer Just Eat. Going by the same, Takeaway declared the takeover of Just Eat in January announced it had earnings before taxes, interest, amortisation, and depreciation of €12.3 million in 2019, which is a great achievement from a loss of €11.3 million in 2018.
Processed 159.2 million orders!
Notably, the company processed 159.2 million orders in 2019, representing a 70% increase compared with 2018, supported by the consolidation from 1 April 2019 of Delivery Hero Germany GmbH and Foodora GmbH (“the German Businesses”).
Takeaway.com generated total gross revenue of €426.8 million, which is a 78% increase from €240.0 million in 2018, thereby exceeding GMV growth of 70% in 2019. The Netherlands achieved gross revenue and order growth of 23% and 16%, respectively, compared with 2018. Adjusted EBITDA in the Netherlands grew to €58.9 million in 2019 from €53.2 million in 2018.
Stunning numbers in Germany!
Also, in Germany, gross revenue and orders significantly increased by 145% and 113%, respectively, compared with 2018, driven by the consolidation of the German Businesses. Furthermore, the gross revenue in other leading markets grew by 71% to €95.2 million in 2019 compared with €55.7 million in 2018.
The main reason behind this growth 81% in 2019 is primarily driven by the addition of the 10bis business in Israel that was consolidated from 26 September 2018. The loss for the period in 2019 was €115.5 million, compared with €14.0 million in 2018, and it was driven by the significant advisory, transaction, and integration-related expenses.
Statement of Jitse Groen, CEO of Just Eat Takeaway.com N.V:
For the first time since our IPO, the company ended the year with an Adjusted positive EBITDA. Achieving this by the end of the third quarter was one of the medium-term targets in our IPO prospectus. It is important to note that we almost four-folded our revenue since 2016, and operational profitability is still a positive by-product of our top-line growth. This year, we rapidly integrated the German brands we acquired, and only several months later, we announced the merger with Just Eat. We are very excited about the opportunities the combination makes possible and are looking forward to 2020.
Main image credits: Takeaway
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