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Just Eat reports order growth accelerates to 46%

Article Date: 2020-10-14

Just Eat has reported order growth in the third quarter has accelerated to 46%.

The company stated: “Order growth accelerated compared with the prior quarter, leading to a widening gap to competition in key countries, including the UK and Canada. Australia was the fastest-growing country, delivering market share gains with triple-digit order growth in the quarter.

Just Eat has started an aggressive investment programme in the legacy Just Eat countries to strengthen its competitive positions, significantly increasing spending on marketing and sales. This programme has delivered accelerated growth while maintaining strong adjusted Ebitda.

The company continued to enhance its restaurant selection, driven by several new partnerships, including the roll-out of approximately 800 McDonald’s restaurants and 300 Greggs locations in the UK.

The integration of Just Eat and is on track.

During the quarter, was migrated to the company’s core European IT-platform, following the earlier migration of

Furthermore, all countries have now adopted the same branding, creating a single global brand identity.

Last week the acquisition of Grubhub was approved by the Just Eat extraordinary general meeting. Subject to satisfaction of conditions, completion of the transaction is anticipated to occur in the first half of 2021.”

Chief executive Jitse Groen said: “Order growth at Just Eat further accelerated, consequently widening the gap to competitors in our key markets. We have continued to generate strong adjusted Ebitda, while investing aggressively, and are well-positioned for autumn and winter, our traditional growth season.”

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