Just Eat Takeaway.com N.V. — Earnings Release 2016

Jan 12, 2017

Amsterdam, 12 January 2017

Q4 2016 Trading Update

• 54% year-on-year total order growth in Q4 2016
• 38% year-on-year order growth in the Netherlands in Q4 2016
• 55% year-on-year order growth in Germany in Q4 2016
• 90% year-on-year order growth in the Other segment in Q4 2016

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 fourth quarter of 2016 and the full year 2016. Full year financial results will be published at 7:00am CET on 15 March 2017.

Jitse Groen, CEO of Takeaway.com said: "This has been our first quarter as a listed company. The network effects generated by our further improved market positions, in combination with declining competitive pressure and our greater firepower as a consequence of the IPO, have resulted in a higher growth rate in the fourth quarter of 2016 as compared with the previous quarter. We are confident that Takeaway.com will further cement its market leadership positions in its Leading Markets in the new year."

		Fourth quarter				Full year
Orders1 x 1,000		2016	2015	Growth	2016	2015	Growth
	Netherlands2	5,970	4,340	38%	21,083	15,946	32%
	Germany	5,326	3,434	55%	17,341	11,693	48%
	Other3,4,5	3,561	1,873	90%	10,897	6,072	79%
	Total	14,857	9,647	54%	49,321	33,711	46%

1) Excluding white label orders. Total white label orders in Q4 2016 were approximately 31K

2) The acquisition of the Netherlands' activities of Just Eat Benelux has been included from August 2016

3) Other comprises Belgium, Austria, Poland, Switzerland, France, United Kingdom, Luxembourg and Portugal

4) The acquisition of the Belgian activities of Just Eat Benelux has been included from August 2016

5) The United Kingdom operations were discontinued in August 2016

Takeaway.com processed 14.9 million orders in Q4 2016, representing a 54% increase compared with Q4 2015.

• The number of orders in the Netherlands increased by 38% in Q4 2016 compared with Q4 2015.
• The Company further strengthened its number one market position in Germany, as orders in Q4 2016 grew 55% compared with Q4 2015. Management believes that Takeaway.com's market share in Germany in terms of orders today is approximately as large as that of the number two and number three websites combined, with Takeaway.com growing at a much faster pace than competition.
• Takeaway.com's Dutch and German operations are now approximately of the same size in terms of orders. Management believes this is a significant milestone for the Company. Besides having clear market leadership in a large food delivery market, scale is a requirement in order to achieve high profit margins in a country.
• Takeaway.com, in terms of orders, is now several times larger than the combined competition in Poland, and over a third larger in Austria. Both countries are in the Other segment, which grew by 90% in Q4 2016 compared with Q4 2015.
• As of 19 December 2016, Takeaway.com has been included in the AScX-Index at Euronext Amsterdam.
• In December 2016, Takeaway.com acquired the Belgian and German businesses of Resto-In, which further strengthened its presence and offering in several cities. This transaction will not have a material impact on the financials.

Full year orders processed by Takeaway.com grew by 46% to 49.3 million in 2016, with growth accelerating to 54% in Q4 2016.

Due to the similarities between Takeaway.com's market positions in the Netherlands and Belgium, for comparative purposes the Company also reports its figures under alternative segmentation (Benelux, Germany and Other) in the following table:

		Fourth quarter			Full year
Orders1 x 1,000		2016	2015	Growth	2016	2015	Growth
	Benelux2,3	6,938	4,878	42%	24,001	17,885	34%
	Germany	5,326	3,434	55%	17,341	11,693	48%
	Other4,5	2,593	1,335	94%	7,979	4,132	93%
	Total	14,857	9,647	54%	49,321	33,711	46%

1) Excluding white label orders. Total white label orders in Q4 2016 were approximately 31K

2) Benelux comprises Netherlands, Belgium and Luxembourg

3) The acquisition of Just Eat Benelux has been included from August 2016

4) Other comprises Austria, Poland, Switzerland, France, United Kingdom and Portugal

5) The United Kingdom operations were discontinued in August 2016

• The number of orders in the Benelux increased by 42% in Q4 2016 compared with Q4 2015. Quarteron-quarter growth was materially higher than year-to-date growth as a result of both strong organic growth and the contribution of the Just Eat Benelux acquisition, which was closed on 2 August 2016. While its effect on the Dutch business isimmaterial, the Just Eat transaction has had an important effect on the order growth in Belgium.
• The number of orders in the Other segment (excluding Belgium) increased by 94% in Q4 2016 compared with Q4 2015, fuelled by strong performance in Austria and Poland.

Takeaway.com

Jitse Groen, CEO Brent Wissink, CFO Joerg Gerbig, COO

Investors:

Joris Wilton E: Joris.Wilton@takeaway.com T: +31 6 143 154 79

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

About Takeaway.com

Takeaway.com is an online food delivery marketplace in nine European countries and Vietnam focused on connecting consumers and restaurants through its platform. With more than 30,500 restaurants connected to the platform, Takeaway.com offers consumers a wide variety of food choice. The Company mainly collaborates with delivery restaurants. In addition, Takeaway.com also provides logistical services in 17 European cities for restaurants that do not deliver themselves.

Founded in 2000, the Company has rapidly grown to become the leading online food delivery marketplace of Continental Europe with operations in the Netherlands, Belgium, Germany, Austria, Poland, Switzerland, France, Luxembourg and Portugal. In the twelve months ending June 2016, Takeaway.com processed more than 40.4 million orders from 7.6 million unique consumers.

With around 500 employees, the Company recorded gross merchandise value of €651 million and a revenue of €77 million in 2015. Takeaway.com listed on Euronext Amsterdam (AMS: TKWY) on 30 September 2016. The prospectus and press releases are available on the Takeaway.com website (https://corporate.takeaway.com).

Disclaimer

The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed by any person for any purpose on the information contained in this announcement or its accuracy, fairness or completeness.

This announcement may include statements that 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.