Just Eat Takeaway sales rise 54% in 2020
Operating losses, however, rose to €107 million from €78 million. a year before
Just Eat Takeaway said sales soared 54% in 2020 as families shifted to dining at home.
The group, formed by the £6 billion merger of London-listed Just Eat and Dutch group Takeaway.com last year, had taken 588 million orders in 2020.
Operating losses, however, mounted to €107 million (£92 million) from €78 million a year before.
Jitse Groen, the group’s chief executive, expected growth to step up again in 2021.
“2020 was an exceptional year for Just Eat Takeaway.com. Right before the completion of the merger between Just Eat and Takeaway.com, the world was hit by Covid-19. This brought unprecedented challenges to our restaurants, consumers as well as to our organisation and staff, but it also created tailwinds for our business,” he said.
The group also expects to win more business in the UK, its biggest market. Growth was notably helped by an exclusive partnership with bakery group Greggs.
The group currently manages online orders for 244,000 restaurants and takeaways and more recently began running its own delivery fleet. It is in the process of buying US-based Grubhub to form the world’s largest takeaway delivery firm.
Losses, it said, had been partly driven by advisory and integration costs connected to the merger of Just Eat and Takeaway.com and the proposed deal with Grubhub, whilst courier costs increased tenfold to €712 million and staff costs quadrupled to €464 million.
It hopes the $7.3billion takeover of Grubhub, announced last June but awaiting regulatory approval, will be completed in the first half of 2021.
