Takeaway.com N.V. (AMS: TKWY), hereinafter “Takeaway.com” or the “Company”, the leading online food delivery marketplace in Continental Europe, hereby issues an order update for the fourth quarter of 2016 and the full year 2016. Full year financial results will be published at 7:00am CET on 15 March 2017.
Jitse Groen, CEO of Takeaway.com said: “This has been our first quarter as a listed company. The network effects generated by our further improved market positions, in combination with declining competitive pressure and our greater firepower as a consequence of the IPO, have resulted in a higher growth rate in the fourth quarter of 2016 as compared with the previous quarter. We are confident that Takeaway.com will further cement its market leadership positions in its Leading Markets in the new year.”
Takeaway.com processed 14.9 million orders in Q4 2016, representing a 54% increase compared with Q4 2015.
- The Company further strengthened its number one market position in Germany, as orders in Q4 2016 grew 55% compared with Q4 2015. Management believes that Takeaway.com’s market share in Germany in terms of orders today is approximately as large as that of the number two and number three websites combined, with Takeaway.com growing at a much faster pace than competition.
- Takeaway.com’s Dutch and German operations are now approximately of the same size in terms of orders. Management believes this is a significant milestone for the Company. Besides having clear market leadership in a large food delivery market, scale is a requirement in order to achieve high profit margins in a country.
- Takeaway.com, in terms of orders, is now several times larger than the combined competition in Poland, and over a third larger in Austria. Both countries are in the Other segment, which grew by 90% in Q4 2016 compared with Q4 2015.
- As of 19 December 2016, Takeaway.com has been included in the AScX-Index at Euronext Amsterdam.
- In December 2016, Takeaway.com acquired the Belgian and German businesses of Resto-In, which further strengthened its presence and offering in several cities. This transaction will not have a material impact on the financials.
Full year orders processed by Takeaway.com grew by 46% to 49.3 million in 2016, with growth accelerating to 54% in Q4 2016.
Due to the similarities between Takeaway.com’s market positions in the Netherlands and Belgium, for comparative purposes the Company also reports its figures under alternative segmentation (Benelux, Germany and Other) in the following table:
- The number of orders in the Benelux increased by 42% in Q4 2016 compared with Q4 2015. Quarteron- quarter growth was materially higher than year-to-date growth as a result of both strong organic growth and the contribution of the Just Eat Benelux acquisition, which was closed on 2 August 2016. While its effect on the Dutch business is immaterial, the Just Eat transaction has had an important effect on the order growth in Belgium.