Just Eat Takeaway's quarterly orders surge 57per cent on lockdown boost

Just Eat Takeaway's quarterly orders surge 57per cent on lockdown boost

European food-ordering firm Just Eat Takeaway.com NV said on Wednesday it had received 57per cent more orders in the fourth quarter than a year earlier, as strict social distancing rules and work-from-home trends continued to boost online orders.

FILE PHOTO: The app for Just Eat is displayed on a smartphone, in London
The app for Just Eat is displayed on a smartphone in this posed picture in London, Britain, August 5, 2019. REUTERS/Toby Melville/File Photo

AMSTERDAM: European food-ordering firm Just Eat Takeaway.com NV said on Wednesday it had received 57per cent more orders in the fourth quarter than a year earlier, as strict social distancing rules and work-from-home trends continued to boost online orders.

Order growth accelerated from a 46per cent jump in the third quarter, as countries across Europe went back into lockdown due to swelling numbers of coronavirus infections.

Takeaway's orders were up 56per cent in Germany and 58per cent in the United Kingdom. Restaurants in the Netherlands delivered 39per cent more meals through the company's platform.

The company said it expects revenue to have jumped more than 50per cent in the whole of 2020, with an adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) margin of around 10per cent.

The figures were presented on a pro-forma basis, to reflect Takeaway's US$7.8 billion takeover of Britain's Just Eat that closed in April 2020.

Just Eat Takeaway will publish its annual results on March 10.

(Reporting by Bart Meijer; Editing by Christian Schmollinger and Sherry Jacob-Phillips)

Source: Reuters

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