From Great Britain to Canada and from Australia to Germany. All over the world, people order more food from home and that creates huge growth rates at Just Eat Takeaway, the Dutch-British parent company of Thuisbezorgd.
In the fourth quarter, the number of orders worldwide increased by 57 percent. The company operates in 23 countries. In Britain, the company‘s main market, growth was 58 percent. In Canada, the number of orders grew by 94 percent, in Australia by 166 percent. In the Netherlands, the market where it all started for the company, growth was 39 percent.
Just Eat Takeaway has been used to growing hard in recent years, but this year growth accelerated. Because of lockdowns and other corona measures, people often choose to have food delivered from restaurants. The growth in the number of orders has been increasing for three consecutive quarters.
“ It’s a kind of perfect storm,” says the highest boss and founder Jitse Groen. “We have the wind out of the pandemic and we have merged with Just Eat which we have grown bigger. And we invest a lot. In summary, this results in enormous growth.”
At the bottom of the line
Over the year, 588 million meal orders were made through the company, an increase of 39 percent compared to 2019.
Still, Groen is not happy about the extended lockdown in the Netherlands. “Certainly not. As far as I‘m concerned, the pandemic may end tomorrow. It is nice for the company that we are a little bigger, but they are not easy conditions to grow in. We also have empty offices, poor efficiency and people who have never met and still have to work together.”
amount of money left at the bottom of the line last year will be announced later. Over the first half of the year, EUR 57 million was lost. The company wants to invest mainly to strengthen its market position and now focuses less on improving financial results.
Just Eat Takeaway announced last year to buy the US Grubhub for 7.3 billion dollars. This makes the company one of the largest meal deliverers in the world. Over the past year, the stock market value increased by 18 percent. The group is now worth 15 billion.
300 million richer
Jitse Groen has 10 percent of the shares as founder. His interest has become worth EUR 300 million more in a year. “That has no feeling. People always think that. In the end, it’s about the ownership of a company. In the event that you erect it yourself, you have a certain property in it. Otherwise, those shares would be with American investors.”
It hasn‘t changed his way of life. “My way of life is mainly determined by how hard you have to work to keep up with growth. By 2020, we all had to work very hard. And I’m not going to stop.”
When asked whether a major takeover will be announced again, he says: “I always find it difficult to say not, but at the moment we have nothing planned.”