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Just Eat Takeaway.com sees Growth even as Pandemic Eases

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Just Eat Takeaway.com expects further growth in 2021 after a surge in business during the COVID19 pandemic helped it meet expectations for fullyear 2020 earnings, the online foodordering and delivery company said on Wednesday.

It expects to win market share in Britain in 2021, and achieve revenue growth, despite plans by rival Deliveroo for a stock market listing in London, CEO Jitse Groen said.

We are quite a bit larger, and well do our best to compete with them, he said, citing a 88 surge in orders there in the first two months of 2021.

Takeaway also competes with Uber in its biggest European markets Britain, Germany and the Netherlands.

Demand for fooddelivery services boomed last year as governmentimposed curbs shuttered restaurants and customers stayed at home.

Takeaways 2020 revenues rose 54 to 2.40 billion euros 2.85 billion in 2020, in line with analysts expectations of 2.39 billion euros, according to Refinitiv data.

Adjusted earnings before interest, taxes, depreciation and amortization EBITDA rose to 256 million euros, from 217 million euros a year earlier.

The figures were adjusted to account for Takeaways 7.8 billion takeover of Britains Just Eat in April 2020, as if it had owned the company in both years.

Groen said order growth would continue even as pandemicdriven deliveries eased in various markets over the course of 2021. But the company did not issue an earnings outlook, saying it intended to sacrifice profitability to win market share.

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