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Just Eat Takeaway.com Reports Order Growth In Q4; Sees FY20 Revenue Growth

Online food delivery company Just Eat Takeaway.com N.V. (JET.L) Wednesday reported its fourth-quarter order growth accelerated to 57 percent. For the full year 2020, the company expects revenue growth of more than 50 percent with an adjusted EBITDA margin of approximately 10 percent.

The outlook reflects significant investments in Delivery in the fourth quarter of 2020.

In its trading update for the fourth quarter, the Amsterdam-based company reported that delivery orders in the UK surged 387 percent in the fourth quarter, compared to the same period last year.

Orders in Rest of the World grew 47 percent, with Australia in particular demonstrating outstanding performance with 166 percent growth.

Jitse Groen, CEO of Just Eat Takeaway.com, said, "The fourth quarter of 2020 marks our third consecutive quarter of order growth acceleration. … The progress in the UK is particularly exciting; order growth of 58 percent and we have increased our Delivery Orders nearly five-fold in the fourth quarter of 2020 compared with the same period in 2019. In 2021, we will continue to invest in price leadership, improving our service levels and expanding our offering to restaurants and consumers."

Further, regarding Grubhub transaction, the company noted that all regulatory approvals have been obtained, and the Extraordinary General Meeting of Just Eat in October last year approved the deal. Subject to satisfaction of conditions, completion of the transaction is anticipated to occur in the first half of 2021.

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