Takeaway.com N.V. (AMS: TKWY), hereinafter “Takeaway.com” or the “Company”, the leading online food delivery marketplace in Continental Europe, hereby issues an order update for the third quarter of 2016 and year-to-date 2016.
Jitse Groen, CEO of Takeaway.com said: “We continued our growth in the period leading towards our initial public offering, which took place on 30 September 2016. Our team is excited about the progress made in Germany, Poland and Austria, in which countries we are rapidly expanding our market share. Furthermore, the acquisition of Just Eat Benelux strengthened Takeaway.com’s position in the Benelux, a region of 28 million inhabitants in which the Company is already highly profitable. We are proud to have successfully completed the integration of the Just Eat Benelux brands in a short period of time and expect to see the benefits of this acquisition going forward.”
Takeaway.com processed 12.1 million orders in Q3 2016, representing a 45% increase compared to Q3 2015.
- The Company acquired Just Eat Benelux B.V. and Just Eat Belgium BVBA, hereinafter jointly “Just Eat Benelux”, from Just Eat Holding Limited on 2 August 2016. The integration of the Just Eat Benelux business was completed within one month after the acquisition, with the brands having been fully integrated into the Dutch and Belgian business of Takeaway.com from the beginning of September 2016.
- The number of orders in the Netherlands increased in Q3 2016 by 30% compared to Q3 2015. The Just Eat Benelux acquisition had no significant contribution to the growth in the Netherlands in Q3 2016, but that it will have a moderately positive impact on Q4 2016.
- Management also believes the Company gained further market share in Germany, with the number of orders in Q3 2016 growing by 47% compared to Q3 2015.
- The number of orders in the Other segment increased in Q3 2016 by 82% compared to Q3 2015, driven by continued growth in Belgium, Austria and Poland. The number of orders in Belgium was positively impacted by the Just Eat Benelux acquisition. As a result of the Company’s growth as well as the Just Eat Benelux transaction, the Belgian business is expected to operate on an EBITDA positive basis for the full year 2016.
- The Company’s UK operations were discontinued in August 2016. While the impact on orders is negligible, management estimates annual savings of approximately €1 million as a result of this decision.
- Takeaway.com’s logistical service has to date been rolled out to 16 large European cities, across 5 countries.
Year-to-date orders of Takeaway.com grew by 43% to 34.4 million, with growth accelerating to 45% in Q3 2016.
The Just Eat Benelux acquisition further strengthens Takeaway.com’s highly profitable growing business in the Benelux: a region of 28 million inhabitants. For this reason, the Company has decided to give further insight in its Benelux growth by providing alternative segmentation.
The number of orders in Benelux increased in Q3 2016 by 33% compared to Q3 2015. Quarterly growth was slightly higher than year-to-date growth, mainly because of the Just Eat Benelux acquisition. Without this acquisition, year-to-date order growth in the Benelux would have been in line with H1 2016.
The number of orders in the Other segment (excluding Belgium and Luxembourg) increased in Q3 2016 by 95% compared to Q3 2015, predominantly due to the strong performance in Poland and Austria. Management is confident the Company will achieve the medium term operational and financial performance objectives as set out in the prospectus issued in September 2016.
About Just Eat Takeaway.com
Just Eat Takeaway.com (AMS: TKWY) is one of the world’s leading global on-demand delivery companies.
Headquartered in Amsterdam, the Company is focused on connecting consumers and Partners through its platforms. With 356,000 connected Partners, Just Eat Takeaway.com offers consumers a wide variety of choices from restaurants to retail.
Just Eat Takeaway.com has rapidly grown to become a leading online food delivery marketplace with operations in Australia, Austria, Belgium, Bulgaria, Canada, Denmark, Germany, Ireland, Israel, Italy, Luxembourg, Poland, Slovakia, Spain, Switzerland, the Netherlands and the United Kingdom.
Most recent information is available on our corporate website and follow us on LinkedIn and X.
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