The delivery group Just Eat Takeaway reports high losses for the past year. Although revenue rose by a third, the loss was almost seven times as high at over 1 billion euros. The company expects a significant boost in 2022, including in Germany.
Delivery Hero parent Just Eat Takeaway ended 2021 with a loss of just over one billion euros as a result of investments in weaker markets and the acquisition of US delivery service Grubhub. As a result, the loss almost seven times as high as in 2020. The company also suffered in its operating business: After an adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) of 363 million euros in 2020, the group posted an operating loss of 350 million euros in 2021, as the Delivery Hero competitor announced in Amsterdam on Wednesday.
The company confirmed its forecast for 2022 and beyond. According to this, transaction volume (GTV) is expected to increase by a mid-double-digit percentage in the current year, with margins improving to minus 0.8 to minus 0.6 percent. "2021 was the peak of losses," it said, according to the statement. The company thus reiterated earlier statements.
With such ambitious expansion plans, Delivery Hero also wanted to re-establish itself in Germany last year, but stopped its experiment after just a few months due to fierce competition.