Takeaway.com N.V. (AMS: TKWY), hereinafter the “company”, or together with its group companies “Takeaway.com”, the leading online food delivery marketplace in Continental Europe, hereby issues an order update for the third quarter of 2017.
“A year after the IPO, Takeaway.com is in good shape at the beginning of the growth season. Our order growth has been significant throughout the year, and we have continued our strong growth in the third quarter of 2017 resulting in year-to-date order growth of 42%. We have substantially increased our market share throughout our Leading Markets and we expect our expanding network effects to further widen the gap between us and competition. Takeaway.com will increase its investments in the fourth quarter of 2017, especially in Germany and the Other segment. At the same time, our accelerating growth of 34% for the third quarter in the highly profitable Netherlands segment enables us to decrease the losses for the company as a whole going forward. Takeaway.com will modestly raise its commissions at the beginning of next year, which will further improve profitability in all Leading Markets.”
• Takeaway.com processed 17.0 million orders in Q3 2017, representing a 40% increase compared with Q3 2016, or 42% year-to-date.
• The Netherlands' growth accelerated to 34% in Q3 2017 and is a continuation of the high growth of 32% that we have delivered since the start of the year. This is particularly relevant given the Netherlands is one of the few large and highly profitable online food delivery marketplaces worldwide. Profits from this segment provide the company with a healthy base and will continue to fuel Takeaway.com’s rapid expansion.
• In Germany, order growth amounted to 39% in Q3 2017 compared with Q3 2016, and 42% year-to-date. Although the company is already the clear number one brand in terms of orders, Takeaway.com will increase its investments in Germany in the fourth quarter of 2017. Management expects accelerated market share expansion in Germany as a result of the increasing network effects following Takeaway.com´s rapidly increasing scale in the market.
• Takeaway.com signed up Domino's Pizza in Germany in October 2017. The company now has all large delivery chains in its Leading Markets listed on its platform, which is an acknowledgment of the key role the company plays in Europe and the success of the business model; not only towards its consumers, but also towards its restaurant partners.
• In the Other segment, order growth was 55% in Q3 2017 compared with Q3 2016, and 63% year-to-date. Order growth in Belgium, Austria and Poland remained at high levels, and Takeaway.com is the clear market leader in each of these countries in terms of orders. The company will increase its investments in order to further expand its market share.
• The company will increase its commission rates in all Leading Markets, effective as from 1 January 2018, which is expected to have a ca. 5% positive effect on revenue growth for 2018 and onwards. Takeaway.com’s take rates remain low as compared to peers.
In accordance with previous trading updates, the company provides further insight in its Benelux operations by providing alternative segmentation.