Member Article

Just Eat's rapid growth abroad sees revenues rise to £375m

Online food delivery platform Just Eat has revealed impressive financials for 2016 after a year of rampant growth was underlined by the increasing centrality of its international businesses.

The London-headquartered business saw revenues rise 46% on a like-for-like basis, jumping to £375.7m last year compared to £247.6m in 2015, while pretax profits enjoyed a triple digit percentage increase, rising 164% to £91.3m

Order volumes were also up a healthy 42%; however, it is the growth in its international businesses that is perhaps most noteworthy.

The business embarked on a prolific acquisition streak last year, acquiring complementary businesses in Italy, Spain and Mexico, and it announced the £260m purchase of Canadian rival SkipTheDishes last December.

According to Just Eat Chief Executive, David Buttress, its international operations now account for over a third of the group’s revenues, and became profitable on an underlying EBITDA basis when taken together last year.

He commented: “2016 was an important year operationally, positioning the business very positively for the future. We continued to invest in our technology, brand and people to expand the choice we offer consumers and the benefits we deliver to our Restaurant Partners.

“Our markets remain relatively under-penetrated, meaning there is considerable runway to generate sustainably profitable growth across the business.”

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