JUST EAT underlying earnings soar 83% for 2015
The digital marketplace for takeaway food delivery reported its results for the year ended 31 December 2015, with revenues up 58% to £247.6 million and Underlying EBITDA up 83% to £59.7 million.
According to the financial results, orders were recorded to be up 57% to £96.2 million compared to 2014’s £61.2 million. Revenues jumped 58% to £247.6 million from a recorded £157.0 million last year, while underlying EBITDA soared 83% to £59.7 million from £32.6 million.
The Group reported that it has processed orders worth £1.7 billion for its restaurant partners, while its active users grew 65% to 13.4 million from 8.1 million in 2014. Group orders placed via mobile devices increased to 66% of orders.
David Buttress, Chief Executive Officer, said: “Our ability to increase and manage choice for consumers, while supporting restaurants with technology and marketing that creates value, resulted in continued strong global growth in our business in 2015.”
“Revenues were up 58% to £247.6 million, with Underlying EBITDA up 83% to £59.7 million. We are now market-leader in 12 out of 13 territories. Our business is becoming increasingly global, with our international business now larger and growing even quicker than our UK business was at the time of IPO.”
Buttress said that the results proved the strength of the company’s model, validating its value-enhancing approach to M&A and providing an excellent platform for continued expansion in 2016.
“The global online takeaway market continues to grow as consumers become ever more demanding; wanting more choice and greater convenience. JUST EAT has been at the leading edge of developing and growing the online marketplace for takeaway food delivery as it responds to these changing trends,” he said.
JUST EAT said that it aims to continue investment for growth in areas such as technology, marketing and people and the Board expects 2016 revenues of £350 million and Underlying EBITDA of between £98-100 million at current exchange rates.
