Meal delivery company Just Eat Takeaway, the parent company of Thuisbezorgd.nl, among others, is on track to turn a profit. Explaining the group’s annual numbers, CEO Jitse Groen said. According to him, last year was a year in which there was still significant investment, especially in the first half of the year, but since then the company has been on its way to black numbers.
Just Eat Takeaway closed the year with a loss of over 1 billion euros. That was a shortfall of 151 million euros a year ago. The company withdrew the wallet in order to acquire Grubhub, but also for Bistro.sk. In addition, costs were incurred for acquisitions made earlier.
The turnover amounted to 5.3 billion euros. This is an increase of one third compared to the previous year. However, it should be noted that Just Eat Takeaway included the full year results of the previously acquired companies, even though they were not part of Just Eat Takeaway for the whole year. Without this effect, the turnover was 4.5 billion euros. The results disappointed analysts. For example, experts had generally expected a much higher turnover accompanied by much lower loss.
Northern Europe was the most profitable region for Just Eat Takeaway. In the UK and Ireland, the company has doubled its order volume in the past two years. Furthermore, Just Eat Takeaway has announced that it will be withdrawing from Norway and Portugal from April 1.
For this year, Just Eat Takeaway is counting on improving its profit margin, compared to the total profit from orders placed with the company. However, it will remain negative. The company noted in the last quarter of last year that profitability had already improved.
Parent company Thuisbezorgd previously announced that it received more orders, although demand growth stabilized in the last quarter of 2021. On the other hand, the company made significant investments last year, especially in the UK. More and more orders are also being delivered by Just Eat Takeaway’s delivery companies, with most affiliated restaurants having previously arranged their own delivery. This also creates additional costs.
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