12th Jan 2022 07:02
(Alliance News) - Just Eat Takeaway.com NV on Wednesday revealed it was in discussions with several potential partners to strengthen its US market position, after reporting orders were up by a third for the fourth quarter.
The food delivery firm processed 1.1 billion orders in 2021, representing a 33% increase compared with the previous year. The company processed EUR273.7 million orders in the fourth quarter, a 14% increase from EUR240.4 million in the same period of 2020.
The UK & Ireland was the fastest growing division for both the quarter and the year, Just Eat noted, with adjusted earnings before interest, tax, depreciation and amortisation significantly improving. Sales orders for the region in 2021 rose 52% year-on-year to EUR295.9 million while the gross transaction value increased 42% to EUR6.6 billion.
The group said it would invest heavily, especially in its London network, while it expects to further improve profitability in 2022.
Orders from North America for the year rose 19% to EUR373.9 million, with the value of orders up by 6% to EUR91.6 million.
"We have markedly improved our adjusted Ebitda throughout the second half of 2021, and we will make further improvements this year. Meanwhile, we expect our market positions to strengthen further, driven by our superior network effects," commented Chief Executive Jitse Groen.
Just Eat did not rule out further partnerships in the US to help accelerate growth there, highlighting talks continued with further potential partners. A recently launched partnership with Instacart and a Grubhub branded convenience pilot with 7-Eleven has been a "success", the company noted.
By Will Paige; [email protected]
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