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REG - Just Eat Takeaway - 1st Quarter Results

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RNS Number : 2185V  Just Eat Takeaway.com N.V.  13 April 2021

Amsterdam, 13 April 2021

Just Eat Takeaway.com Q1 2021 Trading Update

First quarter orders grow 79% to 200 million; GMV up 89% to €4.5bn

Just Eat Takeaway.com N.V. (LSE: JET, AMS: TKWY), hereinafter the "Company",
or together with its group companies "Just Eat Takeaway.com", one of the
world's largest online food delivery marketplaces, hereby issues a trading
update for the first quarter of 2021.

Statement of Jitse Groen, CEO of Just Eat Takeaway.com: "The first quarter of
2021 marks our fourth consecutive quarter of order growth acceleration. Our
fastest growing segment was the United Kingdom, and we are especially pleased
with the roll-out of our UK Delivery network, which has reached an impressive
695% order growth rate year-on-year. We are also very proud of the
acceleration in two of our highly profitable markets, with 77% order growth in
Germany and 53% in the Netherlands. Just Eat Takeaway.com is in excellent
shape and the start of 2021 has been very strong."

 

·      Just Eat Takeaway.com's quarterly order growth accelerated for
the fourth consecutive quarter. The Company processed 200 million orders in
the first quarter of 2021, representing a 79% increase compared with the same
period of 2020. Gross Merchandise Value (GMV) amounted to €4.5 billion in
the first quarter of 2021, up 89% on a constant currency basis compared with
the first quarter of 2020.

·      Marketplace and Delivery contributed almost equally to order
growth. Just Eat Takeaway.com's Marketplace Orders are highly profitable,
while the Delivery Orders are priced very competitively following the
Company's price leadership strategy, allowing for future adjusted EBITDA
gains.

·      The UK was the fastest-growing segment and the Company's main
growth driver. Just Eat UK processed 64 million Orders in the first quarter of
2021, up 96% compared with the same period of 2020. New partnerships were
signed with household brands such as Leon, Tortilla and Chipotle, as well as
coffee chains Starbucks and Costa, adding to Just Eat's growing restaurant
supply. Delivery Order growth was 695% in the first quarter of 2021 compared
with the first quarter of 2020, multiple times faster than the growth rate of
its UK competitors. In London, Just Eat achieved triple digit Order growth.

·      In the first week of April, the businesses in Denmark and Norway
were successfully migrated to Just Eat Takeaway.com's continental European IT
platform. This change will allow for more efficient Delivery operations for
instance.

·      The roll-out of the employed Delivery model ("Scoober")
accelerated throughout Europe, including expanded London coverage and
Birmingham roll-out in the UK, and expansion to Lyon, Bordeaux and Toulouse in
France. In Italy, Just Eat was the first food delivery company to sign a
Collective Bargaining Agreement with the largest unions for the employment of
its couriers.

·      To capitalise on the strong momentum from its investment
programme, the Company will continue to invest heavily and prioritise market
share over adjusted EBITDA. As stated in the FY 2020 results press release,
management expects further order growth acceleration for 2021 compared with
2020.

·      Subject to satisfaction of conditions, including approval of the
registration statement and prospectus by the relevant authorities, the Grubhub
transaction is anticipated to complete in the first half of 2021.

·      In March, the Company signed one of the most extensive
partnerships (https://www.justeattakeaway.com/media/news/) in the history of
UEFA, building on the Company's landmark UEFA EURO 2020
(https://www.uefa.com/insideuefa/about-uefa/administration/marketing/news/0257-0f8e71b21126-d86c34ed2d48-1000--takeaway-com-and-uefa-announce-global-uefa-euro-2020-partnershi/?referrer=%2Finsideuefa%2Fnews%2Fnewsid%3D2632124)
sponsorship. Just Eat Takeaway.com is proud to support twelve UEFA
competitions across women's, men's and youth football, including the UEFA
Champions League.

Just Eat Takeaway.com

Jitse Groen, CEO

Brent Wissink, CFO

Joerg Gerbig, COO

Investors:

Joris Wilton

E: IR@justeattakeaway.com (mailto:IR@justeattakeaway.com)

Media:

E: press@justeattakeaway.com (mailto:press@justeattakeaway.com)

For more information, please visit our corporate website:
https://www.justeattakeaway.com/ (https://www.justeattakeaway.com/)

About Just Eat Takeaway.com

Just Eat Takeaway.com (LSE: JET, AMS: TKWY) is a leading global online food
delivery marketplace outside China.

Headquartered in Amsterdam, the Company is focused on connecting consumers and
restaurants through its platforms. With nearly 250,000 connected restaurants,
Just Eat Takeaway.com offers consumers a wide variety of food choice. Just Eat
Takeaway.com mainly collaborates with delivery restaurants. In addition, Just
Eat Takeaway.com provides its proprietary restaurant delivery services for
restaurants that do not deliver themselves.

The combination of Just Eat and Takeaway.com has rapidly grown to become a
leading online food delivery marketplace with operations in the United
Kingdom, Germany, the Netherlands, Canada, Australia, Austria, Belgium,
Bulgaria, Denmark, France, Ireland, Israel, Italy, Luxembourg, New Zealand,
Norway, Poland, Portugal, Romania, Spain and Switzerland, as well as through
partnerships in Colombia and Brazil.

Analyst and investor conference call and audio webcast

Jitse Groen, Brent Wissink and Jörg Gerbig will host an analyst and investor
conference call to discuss the Q1 2021 trading update at 10:30 am CET on
Tuesday 13 April 2021. Members of the investor community can follow the audio
webcast on https://www.justeattakeaway.com/investors/results-and-reports/
(https://www.justeattakeaway.com/investors/results-and-reports/) .

Media and wires call

Jitse Groen will host a media and wires call to discuss the Q1 2021 trading
update at 8:30 am CET on Tuesday 13 April 2021. The press can join the
conference call at +31 20 531 5853 or +44 20 3365 3210.

Additional information on https://justeattakeaway.com
(https://justeattakeaway.com)

●      Just Eat Takeaway.com Analyst Presentation Q1 2021

●      Our media kit including photos of the Management Board and
industry-related photos for download at
https://www.justeattakeaway.com/media/media-kit/

 

Market Abuse Regulation

This press release contains inside information (i) as meant in clause 7(1) of
the Market Abuse Regulation and (ii) in terms of Article 7(1) of the Market
Abuse Regulation as it forms part of UK law pursuant to the European Union
(Withdrawal) Act 2018.

Unaudited figures

All figures in this document are unaudited.

Disclaimer

Statements included in this press release that are not historical facts
(including any statements concerning investment objectives, other plans and
objectives of management for future operations or economic performance, or
assumptions or forecasts related thereto) are, or may be deemed to be,
"forward-looking statements". These forward-looking statements may be
identified by the use of forward-looking terminology, including the terms
"believes", "estimates", "plans", "projects", "anticipates", "expects",
"intends", "may", "will" or "should" or, in each case, their negative or other
variations or comparable terminology, or by discussions of strategy, plans,
objectives, goals, future events or intentions. Forward-looking statements may
and often do differ materially from actual results. Any forward-looking
statements reflect the Company's current view with respect to future events
and are subject to risks relating to future events and other risks,
uncertainties and assumptions relating to the Company's business, results of
operations, financial position, liquidity, prospects, growth or strategies.
Forward-looking statements speak only as of the date they are made.

The Company expressly disclaims any obligation or undertaking to update,
review or revise any forward-looking statement contained in this announcement
whether as a result of new information, future developments or otherwise.

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