Q4 2020 Trading Update
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Amsterdam, 13 January 2021
Just Eat Takeaway.com Q4 2020 Trading Update
Fourth quarter order growth accelerates to 57%; GMV up 68%
Just Eat Takeaway.com N.V. (LSE: JET, AMS: TKWY), hereinafter the "Company", or together with its group companies "Just Eat Takeaway.com", one of the world's largest online food delivery marketplaces, hereby issues a trading update for the fourth quarter of 2020.
Statement of Jitse Groen, CEO of Just Eat Takeaway.com: "The fourth quarter of 2020 marks our third consecutive quarter of order growth acceleration. Our investment programme is very successful and has led to significant market share gains in most of our countries. The progress in the UK is particularly exciting; order growth of 58% and we have increased our Delivery Orders nearly five-fold in the fourth quarter of 2020 compared with the same period in 2019.
In 2021, we will continue to invest in price leadership, improving our service levels and expanding our offering to restaurants and consumers."
· Just Eat Takeaway.com further strengthened its market leading positions by significantly investing in its most important countries. This led to strong and accelerating growth both in Marketplace Orders as well as in its Delivery business, combined with a solid financial performance.
· The Company has put tremendous effort into improving the Just Eat UK business. The marketing strategy was changed and marketing investments have been increased. The UK sales force has doubled compared with the previous year, driving significantly increased restaurant choice for consumers, and accelerating the roll-out of our logistical network. Scoober has only recently been launched in London and many cities in the UK will follow. This allows Just Eat to further add premium restaurants to its offering, with very short delivery times, excellent service, and much lower delivery fees than its competitors. Delivery Orders in the UK surged 387% in the fourth quarter of 2020 compared with the same period in 2019. Management expects that Just Eat's Delivery Orders only (excluding Marketplace Orders) will soon overtake the total food orders of the UK's #3 player.
· The Company has launched a new loyalty programme in Canada, which management believes will further support the high growth. In Germany and the Netherlands, order growth has been extraordinary, adding more than 12 million orders and ca. 4 million orders respectively in the fourth quarter of 2020 compared with the same period last year.
· Orders in Rest of the World grew 47% in the fourth quarter of 2020 compared with the same period last year, with Australia (+166%) in particular demonstrating outstanding performance.
· For the full year 2020, management expects revenue growth of more than 50% with an adjusted EBITDA margin of approximately 10%, reflecting significant investments in Delivery in the fourth quarter of 2020. To capitalise on the strong momentum from our investment programme, we will continue to invest heavily and prioritise market share over adjusted EBITDA.
· Just Eat Takeaway.com has implemented a wide range of measures to support restaurants, couriers, healthcare workers and charitable initiatives, resulting in ca. €45 million in support worldwide in 2020.
· All regulatory approvals relating to the Grubhub transaction have been obtained, and the Extraordinary General Meeting of Just Eat Takeaway.com approved the transaction on 7 October 2020. Subject to satisfaction of conditions, completion of the transaction is anticipated to occur in the first half of 2021.
Just Eat Takeaway.com
Jitse Groen, CEO
Brent Wissink, CFO
Joerg Gerbig, COO
E: [email protected]
T: +31 6 143 154 79
For more information, please visit our corporate website: https://www.justeattakeaway.com/
About Just Eat Takeaway.com
Just Eat Takeaway.com (LSE: JET, AMS: TKWY) is a leading global online food delivery marketplace outside China.
Headquartered in Amsterdam, the Company is focused on connecting consumers and restaurants through its platforms. With over 205,000 connected restaurants, Just Eat Takeaway.com offers consumers a wide variety of food choice. Just Eat Takeaway.com mainly collaborates with delivery restaurants. In addition, Just Eat Takeaway.com provides its proprietary restaurant delivery services for restaurants that do not deliver themselves.
The combination of Just Eat and Takeaway.com has rapidly grown to become a leading online food delivery marketplace with operations in the United Kingdom, Germany, the Netherlands, Canada, Australia, Austria, Belgium, Bulgaria, Denmark, France, Ireland, Israel, Italy, Luxembourg, New Zealand, Norway, Poland, Portugal, Romania, Spain and Switzerland, as well as through partnerships in Colombia and Brazil.
Analyst and investor conference call and audio webcast
Jitse Groen, Brent Wissink and Jörg Gerbig will host an analyst and investor conference call to discuss the Q4 2020 trading update at 10:30 am CET on Wednesday 13 January 2021. Members of the investor community can follow the audio webcast on https://www.justeattakeaway.com/investors/results-and-reports/ .
For more information, please visit https://www.justeattakeaway.com/investors/financial-calendar/
Additional information on https://justeattakeaway.com
● Just Eat Takeaway.com Analyst Presentation Q4 2020
● Our media kit including photos of the Management Board and industry-related photos for download at https://www.justeattakeaway.com/media/media-kit/
Market Abuse Regulation
This press release contains inside information (i) as meant in clause 7(1) of the Market Abuse Regulation and (ii) in terms of Article 7(1) of the Market Abuse Regulation as it forms part of UK law pursuant to the European Union (Withdrawal) Act 2018.
All figures in this document are unaudited.
Statements included in this press release that are not historical facts (including any statements concerning investment objectives, other plans and objectives of management for future operations or economic performance, or assumptions or forecasts related thereto) are, or may be deemed to be, "forward-looking statements". These forward-looking statements may be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "plans", "projects", "anticipates", "expects", "intends", "may", "will" or "should" or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. Forward-looking statements may and often do differ materially from actual results. Any forward-looking statements reflect the Company's current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to the Company's business, results of operations, financial position, liquidity, prospects, growth or strategies. Forward-looking statements speak only as of the date they are made.
The Company expressly disclaims any obligation or undertaking to update, review or revise any forward-looking statement contained in this announcement whether as a result of new information, future developments or otherwise.
 The Just Eat business was consolidated from 15 April 2020. These figures are presented as if the combination was completed on 1 January 2019 to provide comparable information for the year 2020