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Just Eat Takeaway (JET)

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Wednesday 14 October, 2020

Just Eat Takeaway

Q3 2020 Trading Update

RNS Number : 9804B
Just Eat Takeaway.com N.V.
14 October 2020
 

Amsterdam, 14 October 2020

Just Eat Takeaway.com Q3 2020 Trading Update

Third quarter order growth accelerates to 46%

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 an order update for the third quarter of 2020.

Statement of Jitse Groen, CEO of Just Eat Takeaway.com: "Order growth at Just Eat Takeaway.com further accelerated, consequently widening the gap to competitors in our key markets. We have continued to generate strong adjusted EBITDA, while investing aggressively, and are well-positioned for autumn and winter, our traditional growth season."

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· Order growth accelerated compared with the prior quarter, leading to a widening gap to competition in key countries, including the UK and Canada. Australia was the fastest-growing country, delivering market share gains with triple-digit order growth in the quarter.

· Just Eat Takeaway.com has started an aggressive investment programme in the legacy Just Eat countries to strengthen its competitive positions, significantly increasing spending on marketing and sales. This programme has delivered accelerated growth while maintaining strong adjusted EBITDA.  

· The Company continued to enhance its restaurant selection, driven by several new partnerships, including the roll-out of approximately 800 McDonald's restaurants and 300 Greggs locations in the UK.

· The integration of Just Eat and Takeaway.com is on track. During the quarter, Just-eat.fr was migrated to the Company's core European IT-platform, following the earlier migration of Eat.ch. Furthermore, all countries have now adopted the same branding, creating a single global brand identity.

· On 7 October 2020, the acquisition of Grubhub was approved by the Just Eat Takeaway.com Extraordinary General Meeting. 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

Investors:
Joris Wilton

E: [email protected]
T: +31 6 143 154 79

Media:

E: [email protected]

 

For more information please visit our corporate website: https://www.justeattakeaway.com/ 

About Just Eat Takeaway.com N.V.  

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 Mexico, Colombia and Brazil.

Market Abuse Regulation

This press release contains inside information as meant in clause 7(1) of the Market Abuse Regulation.

Disclaimer

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.

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