TIDMJET
RNS Number : 9160O
Just Eat Takeaway.com N.V.
13 October 2021
Amsterdam, 13 October 2021
Just Eat Takeaway.com Q3 2021 Trading Update
Third quarter 2021 orders up 25%; GTV of EUR6.8 billion
Just Eat Takeaway.com N.V. (LSE: JET, AMS: TKWY, NASDAQ: GRUB),
hereinafter the "Company" or together with its group companies,
"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.
Statement of Jitse Groen, CEO of Just Eat Takeaway.com: "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."
-- Just Eat Takeaway.com processed 266 million orders in the
third quarter of 2021, representing a 25% increase compared with
the same period of 2020. GTV amounted to EUR6.8 billion in the
third quarter of 2021, up 23% 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% 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%
compared with the same period last year. Management started to
implement an 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% 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% year-on-year;
o GTV (incl. Grubhub on a combined basis [1] ) expected to be in
a range of EUR28 to EUR30 billion;
o Adjusted EBITDA margin (incl. Grubhub on a combined basis(1) )
in a range of minus 1% and minus 1.5% 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. Investors and analysts are
invited to register in advance at:
https://channel.royalcast.com/landingpage/takeawayinvestors/20211021_1/
Just Eat Takeaway.com
Jitse Groen, CEO
Brent Wissink, CFO
Joerg Gerbig, COO
Matt Maloney, Member of the Management Board
Investors:
Joris Wilton
E: IR@justeattakeaway.com
Media:
E: press@justeattakeaway.com
For more information, please visit our corporate website:
https://www.justeattakeaway.com/
About Just Eat Takeaway.com
Just Eat Takeaway.com (LSE: JET, AMS: TKWY, NASDAQ: GRUB) is a
leading global online food delivery marketplace.
Headquartered in Amsterdam, the Company is focused on connecting
consumers and restaurants through its platforms. With over 580,000
connected restaurants, Just Eat Takeaway.com offers consumers a
wide variety of food choice. Just Eat Takeaway.com mainly
collaborates with delivery restaurants. In addition, Just Eat
Takeaway.com provides its proprietary restaurant delivery services
for restaurants that do not deliver themselves.
The Company has rapidly grown to become a leading online food
delivery marketplace with operations in the United States, United
Kingdom, Germany, the Netherlands, Canada, Australia, Austria,
Belgium, Bulgaria, Denmark, France, Ireland, Israel, Italy,
Luxembourg, New Zealand, Norway, Poland, Portugal, Romania,
Slovakia, Spain and Switzerland, as well as through partnerships in
Colombia and Brazil.
Analyst and investor conference call and audio webcast
Jitse Groen, Brent Wissink, and Joerg Gerbig will host an
analyst and investor conference call to discuss the Q3 2021 trading
update at 10:30 am CET on Wednesday 13 October 2021. Members of the
investor community can follow the audio webcast on
https://www.justeattakeaway.com/investors/results-and-reports/
.
Additional information on https://justeattakeaway.com
-- Just Eat Takeaway.com Analyst Presentation Q3 2021
Market Abuse Regulation
This press release contains inside information (i) as meant in
clause 7(1) of the Market Abuse Regulation and (ii) in terms of
Article 7(1) of the Market Abuse Regulation as it forms part of UK
law pursuant to the European Union (Withdrawal) Act 2018.
Unaudited figures
All figures in this document are unaudited.
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, including "forward-looking statements" made within the
meaning of the U.S. Private Securities Litigation Reform Act of
1995. 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. Among the key factors that could cause actual
results to differ materially from those projected in the
forward-looking statements are risks from or uncertainties related
to the following: innovation, competition, brand & reputation,
acquisitions, global strategic projects, technology reliability
& availability, data security & privacy, integration &
transformation and social change, legislation & regulation.
Additional information concerning key factors that could cause
actual results to differ materially from those projected in the
forward-looking statements can be found in the Company's filings
with the U.S. Securities and Exchange Commission ("SEC"), including
the Company's registration statement on Form F-4 (Registration
Statement No. 333-255540), which was declared effective by the SEC
on May 12, 2021, and Current Reports on Form 6-K, which may be
obtained free of charge at the SEC's website, http://www.sec.gov,
and the Company's Annual Reports, which may be obtained free of
charge from the Company's corporate website,
https://justeattakeaway.com.
Past performance is no guide to future performance and persons
needing advice should consult an independent financial adviser.
Forward-looking statements reflect knowledge and information
available at, and speak only as of, the date they are made, and 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. Readers are cautioned not to place undue
reliance on such forward-looking statements.
No Offer or Solicitation
This presentation shall not constitute an offer to sell or the
solicitation of an offer to sell or the solicitation of an offer to
buy any securities, nor shall there be any sale of securities in
any jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
Non-GAAP Financial Measures and Alternative Performance
Measures
This presentation includes certain non-GAAP financial measures
as defined by SEC rules and alternative performance measures as
defined by European rules. Just Eat Takeaway.com uses these
non-GAAP financial measures and alternative performance measures,
respectively, as key performance measures because it believes they
facilitate operating performance comparisons from period to period
by excluding potential differences primarily caused by variations
in capital structures, tax positions, the impact of acquisitions
and restructuring, the impact of depreciation and amortization
expense on its fixed assets and the impact of stock-based
compensation expense. These non-GAAP financial measures and
alternative performance measures are not measurements of Just Eat
Takeaway's financial performance under IFRS and should not be
considered as an alternative to performance measures derived in
accordance with IFRS and should be read in conjunction with Just
Eat Takeaway.com's financial statements prepared in accordance with
IFRS. Just Eat Takeaway.com has provided a reconciliation of those
measures to the most directly comparable IFRS measures in Just Eat
Takeaway.com's 2020 Annual Report.
[1] 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 1
January 2020 to provide comparable information for the full six
months period. These numbers are unaudited.
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