Acquisitions cause record loss for Just Eat Takeaway

Despite a substantial increase in sales, Just Eat Takeaway has suffered a loss of nearly half a billion euros in the first six months of 2021.

“Peak has been reached”

That had everything to do with the completion of the acquisitions of Just Eat (in April) and Grubhub (in June). According to the merger company, the peak of the losses has been reached and profitability will soon improve thanks to its increased scale and growth.

Just Eat Takeaway’s turnover increased to 1.77 billion euros in the first half of 2021, but this number does not yet take into account the contribution of Grubhub. The number of orders increased by 61 % to 412 million, and its market share also grew. The company’s net loss amounted to 486 million euros. In the same period last year, the loss was 59 million euros, Belgian newspaper Het Nieuwsblad reports.

Just Eat Takeaway reiterated that it is looking for a buyer for its 33 % interest in Brazilian delivery company iFood. The highest bid to date, which stands at 2.3 billion euros, was deemed insufficient.