Most readers will have heard of jUST Eat that provide an online food delivery service for many fast food outlets in various parts of the world including the UK. jUST Eat PLC was bought by Takeaway.com N.V. for 7.4 billion euros in 2020. The business has just announced its financial results for 2020.

In 2020, its revenue worldwide has risen by 54% to 2,398 million euros whereas in 2019 the figure was 1,557 million euros. That is an increase of 54% – a very large increase. Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) rose from 217 million euros in 2019 to 256 million euros in 2020 – a rise of 18%. In 2019 it was used by 173,000 restaurants but during 2020 this had risen to 244,000 restaurants – an increase of 42%. In 2019, it had 48 million active consumers but by 2020 this had risen to 60 million – an increase of 23%. Of those active consumers, 68% used their services again in 2019 with this increasing to 70% in 2020. In 2019, it processed 413 million orders whereas in 2020 this rose to 588 million orders – an increase of 42%. The average order value in 2019 was 20.60 euros with this increasing to 22.00 euros in 2020 – a rise of 1.31%.

The figures for the United Kingdom reveal that its revenue increased from 509 million euros in 2019 to 725 million euros in 2020. That is a rise of 42% – a very big increase. The number of orders it dealt with increased from 133 million in 2019 to 179 million in 2020. That is a 35% rise –again a very large increase. In fact, in the last 6 months of 2020, growth in delivery orders rose to 260%. The average order value rose from 21.36 euros in 2019 to 22.34 euros in 2020 – an increase of 20.63%. The business has many partners including Greggs and McDonald’s. Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) amounted to 213 million euros in 2019 but increased to 216 million euros in 2020 – a rise of 2%.

On an International Financial Reporting Standards (IFRS) basis, revenue worldwide was 2,042 million euros with courier costs totaling 712 million euros. The loss for the period amounted to 151 million euros.

It will be interesting to see how the business performs in 2021 and we will keep you updated in this respect. It no doubt uses the services of thousands of couriers worldwide who will have welcomed the work during the coronavirus pandemic.