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Just Eat Takeaway says order growth accelerating amid increased investment

Published: 08:01 14 Oct 2020 BST

Just Eat Takeaway.com NV -
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Just Eat Takeaway.com NV (LON:JET) said order growth accelerated to 46% in the past quarter as it began “aggressive” investment in sales and marketing.

The FTSE 100 food ordering and delivery marketplace took 151.4mln orders in the third quarter of 2020, up from 103.6mln a year ago, on a pro forma basis after the Anglo-Dutch business completed its merger earlier this year.

READ: Barclays analysts reassess media, internet and e-commerce sectors

Orders were boosted by new restaurant partnerships, including a deal covering 800 McDonald’s restaurants and 300 Greggs locations in the UK.

The past quarter saw continued double-digit growth in all of its largest markets, with UK orders up 43%compared to 27% growth in the first half, German growth slowing to 47% from 64%, Canada almost doubling and the Netherlands improving to 32%.

Chief executive Jitse Groen said the further acceleration widened the gap to competitors in these key markets.

“We have continued to generate strong adjusted EBITDA, while investing aggressively, and are well-positioned for autumn and winter, our traditional growth season,” he said.

After shareholders approved the acquisition of Grubhub earlier this month, the transaction is anticipated to complete in the first half of next year, making it the world's largest online food delivery company outside of China.

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