Meal delivery company Takeaway.com has achieved a strong turnover growth last year, assisted by the acquisition of Delivery Hero in Germany. For the first time since the IPO in 2016, the company recorded a positive gross operating result.
Germany largest market
The number of orders increased by 70 % to 159.2 million, which resulted in a turnover of just under 416 million euros: a whopping 79 % higher than in 2018. The spectacular increase is partly caused by the acquisition of the German activities of Delivery Hero: in Germany, revenue went up 145 %.
For the first time since the IPO four years ago, Takeaway.com posted a positive adjusted gross operating result (aebitda) of 12.3 million euros. Last year, this indicator was still 11.3 million euros below zero. Although the net loss rose sharply from 14 million in 2018 to 115 million last year, these losses are mainly due to non-recurring costs associated with the integration of Delivery Hero and the acquisition of Just Eat.
Incidentally, the merger with Just Eat has already been somewhat delayed because the British competition authority CMA has opened an investigation. Pending the completion of that investigation, both partners are required to be managed separately, Dutch newspaper De Telegraaf writes. This means that, among other things, for the time being they will have to continue working with separate websites, names and logos.
In mid-January, Takeaway.com had already published an update, which showed that the meal deliverer had handled considerably more orders. Today the Dutch company came up with the full annual figures.