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 2018.
Statement of Jitse Groen, CEO of Takeaway.com: “In the third quarter of 2018, Takeaway.com increased its orders by 31% compared with the third quarter of 2017. In Germany, our order growth accelerated for the third consecutive quarter, outpacing last year’s third quarter growth. We will use the current momentum to position ourselves for further incremental growth. In many of the 33 European cities in which we offer our restaurant delivery service Scoober, we are already by far the largest food delivery brand as well as the largest logistical service. To become the largest logistical player in every Scoober city, we will increase our investments. We still expect the company to turn EBITDA positive in or before the third quarter of 2019.”
• Takeaway.com processed 22.3 million orders in Q3 2018, representing a 31% increase compared with Q3 2017, and 31% year-to-date.
• In Germany, order growth accelerated to 40% in Q3 2018 compared with Q3 2017. This strong growth is driven by our expanding network effects following our rapidly increasing scale in the market, resulting in further market share gains.
• In the Other Leading Markets segment, order growth was 43% in Q3 2018 compared with Q3 2017, driven by continued order growth mainly in Belgium, Austria and Poland.
• The acquisition of 10bis in Israel was completed on 26 September 2018. Results are consolidated from this date onwards and are reported as part of the Other Leading Markets segment.
• As per the final sell-down of the stake of Prime Ventures, Sake Bosch resigned from the company’s Supervisory Board effective as of 12 September 2018.
As a result of our additional investments in Scoober the Germany segment will continue to be loss-making in 2019. Given that Germany is likely to become Europe's largest food delivery market, management has decided to capture this significant growth opportunity. Management confirms the guidance for the company to achieve a positive EBITDA margin at group level in or before the third quarter of 2019.