Takeaway.com: plans IPO on Euronext Amsterdam

Amsterdam / NL. (tah) Takeaway.com Holding B.V., a leading online food delivery marketplace in Continental Europe, announced its intention to proceed with an initial public offering and listing of its ordinary shares on Euronext Amsterdam. The Offering is expected to consist of a primary offering of newly issued Shares and a secondary offering of existing Shares held by the Company’s current shareholders. The Offering is expected to take place in the coming weeks, subject to market conditions and other relevant considerations. Highlights:

• Takeaway.com is a leading online food delivery marketplace in Continental Europe, focused on connecting consumers and restaurants through its platform in nine European countries
• The Company has leading market positions in the Netherlands, Germany, Belgium, Austria and Poland in terms of number of participating restaurants, Orders(1) and Gross Merchandise Value (GMV)(2)
• In the Netherlands, Takeaway.com is the largest online food delivery marketplace, with an estimated market share in 2015 of more than 90 percent in terms of online order value(3) and a proven profitability with a 63.2 percent Ebitda(4) margin in 2015
• Takeaway.com also believes that it is the largest online food delivery marketplace, operating a single brand strategy in Germany, Belgium, Austria and Poland in terms of number of restaurants, Orders and GMV.
• The Company operates in the fast-growing food delivery market, which management estimates to be worth EUR 9 billion (2015) in GMV, in aggregate, for the Company’s Leading Markets
• For 2015, Takeaway.com recorded GMV of EUR 651 million and revenue of EUR 77 million, growing like-for-like(5) at a compounded annual growth rate (CAGR) of circa 56 percent and circa 58 percent between 2013 and 2015, respectively
• Takeaway.com received circa 34 million Orders in 2015 and had circa 6.8 million Active Consumers(6) as at 31 December 2015, with Orders growing at a CAGR of circa 54 percent between 2013 and 2015

1. «Orders» (and each an «Order») is defined as orders by consumers that were processed through the Company’s websites and mobile applications, in example, excluding orders processed through third party websites.
2. GMV consists of total value of merchandise (food) sold via Orders in a particular period.
3. Management has estimated the market shares of the Company’s brands based on the Company’s GMV in each market and its estimates of the size of the food delivery marketplace market.
4. «Ebitda» is defined by the Company as its profit or loss for the period before depreciation and amortization, finance income and expenses, long-term employee incentive costs, share of profit/(loss) of joint ventures, non-recurring items and income tax expense/(benefit).
5. Aggregated for the acquisition of yd.yourdelivery GmbH («Yourdelivery») for the period prior to 10 April 2014, the date of completion of the acquisition of Yourdelivery.
6. «Active Consumers» is defined as unique consumer accounts (identified by a unique e-mail address) from which at least one Order has been placed on the Company’s platform in the preceding 12 months.

• The Company’s core business model involves collaborating with participating restaurants (30’486 as at 30 June 2016) that deliver food themselves, with Takeaway.com serving as a source of Orders for restaurants and facilitating online payment processes
• The Company operates a highly scalable, secure, global technology platform with a true «Mobile First» mindset, focusing on consumers who order food through mobile devices and, based on the Company’s experience, tend to order more frequently than other consumers
• Takeaway.com has strong brand awareness, with the highest top of mind brand awareness for online food delivery businesses in all of its Leading Markets (source: GfK report based on a survey conducted in March 2016)
• Experienced founder-led management team with complementary skills and 28 years of combined experience in the online food delivery industry. Since its founding in 2000, the Company’s business has grown rapidly, mostly organically in combination with growth through acquisitions

Jitse Groen, CEO of Takeaway.com said: «Takeaway.com started in 2000 in an attic in the Netherlands and has grown to become a market leader in online food delivery in Continental Europe. Over the years, we have developed a scalable, secure and global IT platform, which has enabled us to increase the number of partner restaurants delivering food and the number of consumers ordering food from them. We see significant opportunities for further growth as people order more and more food delivery with their mobile devices from home or wherever they are.

«I am very pleased to announce the intention to float, as I believe this to be a pivotal next step forward to realize our future growth potential. The listing will provide Takeaway.com with additional capital to strengthen our operations and to fund our marketing efforts with the aim of enhancing our proposition to our consumers. We intend to bring Takeaway.com to the next level, in collaboration with our partner restaurants and our highly motivated management team and staff».