Just Eat Takeaway.com: Q3-2021 Trading Update

Amsterdam / NL. (tkwy) Just Eat Takeaway.com N.V., hereafter the «Company» or together with its subsidiaries «Just Eat Takeaway.com», one of the world’s largest online food delivery marketplaces, hereby issues a trading update for the third quarter of 2021. «With most of the world returning to pre-pandemic life, our growth in the third quarter of 2021 has remained strong. Just Eat Takeaway.com is well-positioned for autumn and winter, our traditional growth season. We look forward to updating the market on the exciting opportunities for long-term growth across our business during our Capital Markets Day on 21 October,» says Chief Executive Jitse Groen.

  • Just Eat Takeaway.com processed 266 million orders in the third quarter of 2021, representing a 25 percent increase compared with the same period of 2020. GTV amounted to EUR 6.8 billion in the third quarter of 2021, up 23 percent compared with the same period of 2020.
  • The investment programme in the UK continued to drive sustainable network effects. Just Eat in the UK reached more than 200 million orders in the first nine months of 2021, up 51 percent in the third quarter of 2021 compared with the same period last year. Just Eat UK surpassed the one billion orders milestone since its foundation, demonstrating its enormous scale and longevity.
  • In the US, orders in the third quarter of 2021 increased 3 percent compared with the same period last year. Management started to implement the improvement programme re-focusing the company on Grubhub’s strongholds.
  • Germany was the second fastest-growing segment adding 10 million incremental orders in the quarter compared with the prior year, representing 35 percent order growth, demonstrating the strength of the brand.
  • On 1 October 2021, the acquisition of the Slovakian market leader Bistro.sk was completed. Bistro.sk will adopt the Company’s global brand identity.
  • As previously announced, Matt Maloney has decided to step down as member of the Company’s management board, effective 1 December 2021.
  • Management reiterates its guidance for the full year 2021: o Order growth (excl. Grubhub) above 45 percent year-on-year; o GTV (inclusive Grubhub on a combined basis*) expected to be in a range of EUR 28 to EUR 30 billion; o Adjusted Ebitda margin (inclusive Grubhub on a combined basis* in a range of minus 1 percent and minus 1.5 percent of GTV.
  • The Company will be hosting a virtual capital markets day through a live webcast scheduled to begin at 13:00 CET (12:00 GMT / 7:00 EDT) on 21 October 2021 to provide the market with further details on its strategy and increased visibility on how the Company will capitalise on the exciting, long-term growth and profit opportunities across its business.

* The Grubhub business was consolidated from 15 June 2021, and the Just Eat business was consolidated from 15 April 2020. These figures are presented as if the combination was completed on 01 January 2020 to provide comparable information for the full six months period. These numbers are unaudited.