Just Eat UK delivery orders surge 733%
The group also reported triple-digit order growth in the UK for the period, contributing to its now expected 45% order growth for the full year
Just Eat Takeaway has raised its growth guidance as delivery orders in the UK surged 733% year-on-year during the first half of FY21.
The group also reported triple-digit order growth in the UK for the period, contributing to its now expected 45% order growth for the full year.
The takeaway company has, however, predicted a global loss in its upcoming full-year results, despite seeing gross transaction value (GTV) rise 46% year-on-year to €14.1bn (£12.1bn) during H1 FY21.
The company has forecast an adjusted EBITDA of -1% to -1.5% of GTV for FY21, however, in light of fee caps and a voluntary partner support of roughly €200m (£171m) in the US and Canada.
Nonetheless, orders at the group, including its newly acquired Grubhub US arm, increased 51% year-on-year to 546.8 million for the first half of the financial year, however.
While Q2 GTV at Just Eat also jumped year-on-year, the quarter represented a slowdown in growth, rising 26% from €5.7bn (£4.88bn) in FY20 to €7.2bn (£6.16bn) the following year.
The same can be said for group orders, which rose 37% year-on-year from 203.8 million to 279.7 million.
Jitse Groen, CEO at the group, said: “We have combined Just Eat Takeaway.com and GrubHub into one of the largest online food delivery companies in the world.
“The new combination grew 51% in terms of orders in the first half year. Adjusted EBITDA losses, mainly caused by US and Canadian fee caps and our investment programme, have now peaked.”
He added: “We therefore expect the company to trend back to profitability going forward while retaining significant growth during the second half of the year.”
