Just Eat plc (LON:JE.), a leading global marketplace for online food delivery, today updated the market on its performance over the three and nine months to 30 September 2017 (“Third Quarter” or “Q3” and “Year-to-date” or “YTD” respectively).
Highlights:
● Reported revenues were up 47% to £138.6 million in the Third Quarter (Q3 2016: £94.5 million) driven by strong order growth and the inclusion of SkipTheDishes.
● On a currency neutral basis, revenues grew by 44%.
● Total orders were up 29% to 43.1 million in the Third Quarter (Q3 2016: 33.3 million).
● UK orders were 26.2 million (Q3 2016: 21.4 million), up 22% against a comparative period that was impacted by unseasonal weather conditions.
● International orders were up 43% to 16.9 million (Q3 2016: 11.8 million), driven by triple digit pro-forma order growth from SkipTheDishes.
● Proposed acquisition of Hungryhouse received provisional clearance from the Competition and Markets Authority.
Just Eat also announced that, following three years as a listed company, it is ceasing publication of its January trading update. The company will continue to report full financials at the full and half year, alongside first and third quarter trading updates. As such, it’s next market update will be its full year 2017 results on 6 March 2018.
Guidance:
Given the continued strength of SkipTheDishes, driven by commensurate investment, we are pleased to raise our previous revenue guidance for full year 2017 of £500-515 million to between £515-530 million and retain that of underlying EBITDA of between £157-163 million.
Peter Plumb, Just Eat plc CEO commented: “The Just Eat team has once again delivered another period of strong growth. As I get to know the company, it is great to see the UK business in good health and positive momentum across our international markets, particularly in Canada where SkipTheDishes’ delivery expertise and relentless focus on customer service are driving excellent results.
We will continue to invest for growth in technology, marketing and great people.”
