Food delivery marketplace Just Eat Takeaway issued a trading update for Q1 2021, showing growth for the fourth consecutive quarter. The company processed 200 million orders in this period, a 79% increase compared to Q1 2020. Gross merchandise value (GMV) is up by 89% compared to the same period last year, to €4.5 billion ($5.37 billion).
The UK segment was the fastest-growing one, with 64 million orders processed, a 96% increase compared to Q1 2020. The company made new partnerships with Leon, Tortilla, and Chipotle, as well as coffee chains Starbucks and Costa.
“The first quarter of 2021 marks our fourth consecutive quarter of order growth acceleration. Our fastest growing segment was the United Kingdom, and we are especially pleased with the roll-out of our UK Delivery network, which has reached an impressive 695% order growth rate year-on-year. We are also very proud of the acceleration in two of our highly profitable markets, with 77% order growth in Germany and 53% in the Netherlands. Just Eat Takeaway.com is in excellent shape and the start of 2021 has been very strong,” said Jitse Groen, CEO of Just Eat Takeaway.
The company continued to expand its several services throughout Europe and the UK – the roll-out of the employed Delivery model (“Scoober”) accelerated to Lyon, Bordeaux, and Toulouse in France, as well as expanded London coverage and Birmingham in the UK. In Italy, Just Eat Takeaway signed a Collective Bargaining Agreement with the largest unions for the employment of its couriers.
At the beginning of February, Just Eat Takeaway raised €1.1 billion (more than $1.3 billion) through a convertible bond offering, which settlement is expected to take place on 9 February 2021, as MarketplaceDaily reported.
In March, the company signed a partnership with UEFA to support twelve UEFA competitions across women’s, men’s, and youth football, including the UEFA Champions League.
Besides further order growth, the company’s management expects the Grubhub transaction to complete in the first half of 2021. They will continue to invest heavily and prioritize market share over adjusted EBITDA.