Just Eat Takeaway loss widens, sees growth ahead - MarketWatch

Just Eat Takeaway.com NV said Wednesday that its net loss widened in 2020 on the back of acquisition and integration costs, and that it expects an acceleration in order growth this year.

The Dutch food-delivery company, which is in the process of acquiring U.S. peer Grubhub Inc., posted a net loss of 151 million euros ($179.7 million), compared with a loss of EUR115 million a year earlier.

Revenue rose to EUR2.04 billion from EUR416 million, following Takeaway.com's combination with Just Eat.

On a combined basis, Just Eat Takeaway's adjusted earnings before interest, taxes, depreciation and amortization--the company's preferred profit metric, which strips out exceptional and other one-off items--was up 18% at EUR256 million, it said.

Just Eat Takeaway's revenue on a combined basis increased 54% to EUR2.40 billion, against the company's guidance of between EUR2.38 billion and EUR2.40 billion, it said.

The company said that it isn't providing fresh guidance because of the material impact of its proposed combination with Grubhub, but that it will continue to invest to drive further growth and market-share gain. In the first two months of the year, Just Eat Takeaway's orders in the U.K. were up 88%, and the company expects to increase market share there in 2021, it said.

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Just Eat Takeaway loss widens, sees growth ahead - MarketWatch
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