2 Nov 2016 07:00
2 November 2016
Just Eat plc
("Just Eat", the "Company" or the "Group")
Q3 2016 Order Update
Strong performance driving increased revenue and EBITDA guidance
Just Eat plc (LSE: JE.), the world's leading marketplace for online food delivery, today issues an order update for the three and nine months to 30 September 2016 ("Third Quarter" or "Q3" and "Year-to-date" or "YTD" respectively) and updates its guidance for full year revenues and underlying EBITDA.
2016 | Q3 | YTD | ||
Order growth | Reported1 | LFL2 | Reported1 | LFL2 |
Group | 34% | 34% | 47% | 38% |
Highlights include:
● Total orders in the Third Quarter were 33.3 million, showing strong growth of 34% year-on-year on both a reported and like-for-like basis.
● UK orders were up 28% in the quarter, notwithstanding a significantly warmer and dryer summer than 2015 (Q3 2015: up 50%).
● Further penetration into mobile usage with more than 80% of UK orders being made via mobile devices (Q3 2015: 74%) and over 46% of UK orders being made by app (Q3 2015: 41%).
● Over 30% of UK orders are now being processed on our Orderpad restaurant platform, and we have successfully commenced the roll out of this technology in Spain, Denmark, Italy, Canada and Ireland.
● We continue to invest in a number of technology and marketing initiatives and are starting to see the benefits of these in many of our markets.
● Integration of businesses acquired in Spain, Italy and Mexico continues to progress well.
Outlook:
● As we get closer to the end of the year, we increase our expectations for full year revenues to £371 million at constant exchange rates3 up from £368 million, and a range of £109-£111 million of underlying EBITDA, up from £106-108 million, again at constant exchange rates3.
David Buttress, CEO, commented:
"Just Eat has had another period of strong order growth. Whilst we continue to invest in a number of technology and marketing initiatives and are starting to see the benefits of these in many of our markets, we have continued to focus on delivering the best possible service to our restaurants and customers. Consequently, we are pleased to increase revenue and EBITDA guidance for the full year. I would like to thank the whole Just Eat team for their continued hard work and commitment."
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Enquiries:
Just Eat | +44 (0)20 3667 6923 |
David Buttress, CEO Paul Harrison, CFO Adam Kay, Head of Investor Relations | |
Brunswick Group LLP | +44 (0)20 7404 5959 |
Sarah West, David Litterick, Chris Buscombe |
Forward looking statements:
This announcement includes statements that are, or may be deemed to be, "forward-looking statements". By their nature, forward-looking statements involve risk and uncertainty since they relate to future events and circumstances. Actual results may, and often do, differ materially from any forward-looking statements. Any forward-looking statements in this announcement reflect management's view with respect to future events as at the date of this announcement. Save as required by law or by the Listing Rules of the UK Listing Authority, the Company undertakes no obligation to publicly revise any forward-looking statements in this announcement following any change in its expectations or to reflect events or circumstances after the date of this announcement.
About Just Eat:
Just Eat plc operates the world's leading marketplace for online food delivery. Headquartered in London, we use proprietary technology to offer a quick and efficient digital ordering service for 16.6 million users and 63,900 takeaway restaurants. Just Eat is a member of the FTSE 250 Index.
1 Orders from our Mexico and Australia businesses are included from their dates of acquisition, in February 2015 and mid-June 2015 respectively.
2 Q3 and YTD like-for-like growth excludes orders from Australia, Mexico and our Benelux business, which was sold on 2 August 2016.
3 Constant exchange rates use rates used for guidance at our interim results in July 2016. Using current exchange rates, revised revenue guidance would increase to £373 million while there would be no material change to underlying EBITDA.