Just Eat Takeway sees sales soar 54% in the year coronavirus hit

Photo: Takeaway.com
Photo: Takeaway.com

Meal delivery company Just Eat Takeaway rose 4.4% on the Amsterdam stock exchange on Wednesday after publishing finalised 2020 results.

The company, which now delivers meals in 24 countries, posted a net loss of €151m last year, due mainly to the cost of integrating the Just Eat and Takeaway brands and the take over of Grubhub in the US, the company said.

Comparable sales soared 54% to €2.4bn, while the customer base expanded by 23% and the number of orders rose 42%. The company booked its best performance in Germany, where sales rose 82%.

‘2020 was an exceptional year for Just Eat Takeaway.com,’ chief executive Jitse Groen said in a statement, pointing out that the merger of Just Eat and Takeway.com was completed just before coronavirus hit.

‘This brought unprecedented challenges to our restaurants, consumers as well as to our organisation and staff, but it also created tailwinds for our business. Our revenue grew 54% in 2020, and we expect a further acceleration of our order growth in 2021 compared with last year.’

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