Just Eat sees 2020 revenues soar 54%

Just Eat Takeaway.com (Just Eat) reported consolidated sales totaling £ 2.06 billion for the fiscal year ended December 31, 2020, up 54% year over year.

Adjusted EBITDA for the period also increased from £ 185.9m in 2019 to £ 256m in 2020, an increase of 18% for the year.

The Group’s UK operations increased 42% year over year from £ 436 million to £ 621 million.

Despite its strong performance on UK sales, Just Eat’s Adjusted EBITDA for the region stayed close to 2019 levels, increasing 2% to £ 185 million.

In terms of orders, the group said it was “the clear leader in the UK” with the UK accounting for 179 million of the Group’s 588 million worldwide orders for the year.

Additionally, Just Eat’s orders were up 88% in the first two months of 2021 compared to 2020, with delivery orders up over 600% over the same period last year.

Just Eat said that “given the recent trade and investment program,” the group’s management team “expects to increase market share in the UK in 2021.”

Jitse Groen, CEO of the company, said: “2020 has been an exceptional year for Just Eat Takeaway.com.

“In the second half of the year, we significantly increased our investments in the previous Just Eat business and further expanded our position as one of the largest food mail order companies in the world.”

With the company’s sales on an upward trend in 2021, Just Eat raised over £ 940 million through an offering of convertible bonds on February 2, 2021, further strengthening the group’s balance sheet.