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Just Eat Takeaway.com N.V. — Earnings Release 2018
Oct 10, 2018
3856_iss_2018-10-10_0a1236e3-e750-4a15-9aab-ed78e8afc68d.pdf
Earnings Release
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Amsterdam, 10 October 2018
Q3 2018 Trading Update
German order growth accelerates to 40%; Group orders up 31%
Takeaway.com N.V. (AMS: TKWY), hereinafter the "company", or together with its group companies "Takeaway.com", the leading online food delivery marketplace in Continental Europe, hereby issues an order update for the third quarter of 2018.
Statement of Jitse Groen, CEO of Takeaway.com: "In the third quarter of 2018, Takeaway.com increased its orders by 31% compared with the third quarter of 2017. In Germany, our order growth accelerated for the third consecutive quarter, outpacing last year's third quarter growth. We will use the current momentum to position ourselves for further incremental growth. In many of the 33 European cities in which we offer our restaurant delivery service Scoober, we are already by far the largest food delivery brand as well as the largest logistical service. To become the largest logistical player in every Scoober city, we will increase our investments. We still expect the company to turn EBITDA positive in or before the third quarter of 2019."
| Orders1 (in thousands) |
Third quarter | Year-to-date | ||||
|---|---|---|---|---|---|---|
| 2018 | 2017 | Growth | Sep-18 | Sep-17 | Growth | |
| (% change) | (% change) | |||||
| Netherlands | 8,225 | 7,038 | 17% | 23,879 | 19,956 | 20% |
| Germany | 8,159 | 5,828 | 40% | 23,217 | 17,085 | 36% |
| Other Leading Markets2,3,4 | 5,929 | 4,150 | 43% | 16,950 | 11,959 | 42% |
| Total | 22,313 | 17,016 | 31% | 64,046 | 49,000 | 31% |
1 Excluding white label orders. No white label orders in 2018.
2 Other Leading Markets comprise Belgium, Austria, Poland, Switzerland, France, Luxembourg, Portugal, Bulgaria, Romania and Israel.
3 The France operations were discontinued in February 2018.
4 Includes acquisitions of BGmenu (Bulgaria) and Oliviera (Romania) from 26 March 2018, Foodarena (Switzerland) from 21 June 2018 and 10bis (Israel) from 26 September 2018.
- Takeaway.com processed 22.3 million orders in Q3 2018, representing a 31% increase compared with Q3 2017, and 31% year-to-date.
- In the Netherlands, order growth amounted to 17% in Q3 2018 compared with Q3 2017.
- In Germany, order growth accelerated to 40% in Q3 2018 compared with Q3 2017. This strong growth is driven by our expanding network effects following our rapidly increasing scale in the market, resulting in further market share gains.
- In the Other Leading Markets segment, order growth was 43% in Q3 2018 compared with Q3 2017, driven by continued order growth mainly in Belgium, Austria and Poland.
- The acquisition of 10bis in Israel was completed on 26 September 2018. Results are consolidated from this date onwards and are reported as part of the Other Leading Markets segment.
- As per the final sell-down of the stake of Prime Ventures, Sake Bosch resigned from the company's Supervisory Board effective as of 12 September 2018.
As a result of our additional investments in Scoober the Germany segment will continue to be lossmaking in 2019. Given that Germany is likely to become Europe's largest food delivery market, management has decided to capture this significant growth opportunity. Management confirms the guidance for the company to achieve a positive EBITDA margin at group level in or before the third quarter of 2019.
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://corporate.takeaway.com
About Takeaway.com
Takeaway.com is the leading online food delivery marketplace in Continental Europe, Israel and Vietnam. The Company is focused on connecting consumers and restaurants through its platform. With nearly 36,500 connected restaurants, Takeaway.com offers consumers a wide variety of food choice. The Group mainly collaborates with delivery restaurants. In addition, Takeaway.com also provides restaurant delivery services in 33 European cities in eight countries for restaurants that do not deliver themselves.
Founded in 2000, the Group has rapidly grown to become the leading online food delivery marketplace of Continental Europe with operations in the Netherlands, Germany, Poland, Belgium, Austria, Switzerland, Luxembourg, Portugal, Bulgaria and Romania. In the twelve months ended 30 June 2018, Takeaway.com processed more than 78 million orders from 12.6 million unique consumers.
With over 1,000 employees, the Group processed orders worth €1.5 billion and generated revenue of nearly €200 million in the twelve months ended 30 June 2018.
Takeaway.com is listed on Euronext Amsterdam (AMS: TKWY).
Financial calendar
- Q4 2018 Trading Update : 10 January 2019
- Full Year 2018 Results : 13 February 2019
- 2018 Annual Report : 13 March 2019
For more information, please visit https://corporate.takeaway.com/investors/financial-calendar/
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 forwardlooking statement contained in this announcement whether as a result of new information, future developments or otherwise.
Market share estimates contained in this press release are based on outside sources, such as specialised research institutes, in combination with management estimates.