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FOOD SERVICES | Staff Reporter, UK

Just Eat's Results Announced

Its performance is underpinned by strong execution across markets as its UK business continues to excel.

Just Eat plc has reported its results for the year ended 31 December 2017, with revenue up 45% to £546m and Underlying EBITDA up 42% to £164m. The UK business continues to excel and is further strengthened by the acquisition of Hungryhouse, its 10.5m Active Customers purchased £1.9 billion worth of food from its 28,400 entrepreneurial Restaurant Partners, delivering UK revenue of £304 million. 

The Just Eat brand reported reaching its highest brand awareness due to innovative brand and marketing initiatives, including X Factor sponsorship and the latest Magic TV campaign, continued expansion of delivery pilots with growing number of branded restaurant chains, and continued strong momentum internationally.

SkipTheDishes delivered 264% pro forma order growth, becoming the second largest business in the Group, whilst France and Italy both surpassed 1 million Active Customers during the year.

With orders rising by 26% to £172 million, the company's revenue increased 45% to £546 million, up 30% on an organic basis.

Just Eat CEO Peter Plumb said,  “2017 was a record year for Just Eat. We helped 21.5 million customers order 172 million takeaways around the world, growing Group revenue by 45% to £546 million. More Restaurant Partners joined our platform, increasing the breadth of choice for our customers and strengthening the Group’s geographical coverage to over 82,000 restaurants.

“As the new CEO, I will be increasing our investment in brand, Developing Markets and delivery services that will be engineered to complement our thriving marketplace business by bringing more choice to our takeaway-loving Customers.”

For its outlook, Just Eat said it remains on course to deliver uEBITDA of £215 – 235 million in 2018. It will also expand its investments in brand, Developing Markets and delivery services, resulting in Group revenue of between £660 – 700 million and uEBITDA of £165 – 185 million in 2018.

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