Just Eat publishes Q3 2015 Order Update
JUST EAT plc (LSE: JE.), the world’s leading digital marketplace for takeaway food delivery, today issues the following order update for the three and nine months to 30 September 2015 (“Third Quarter” or “Q3” and “Year-to-date” or “YTD” respectively) and increases its revenue guidance for the full year.
The strategy of ongoing investment in technology and marketing to drive order growth has delivered orders ahead of management expectations with an acceleration in order momentum over the period.
- Continued success with our marketing campaigns and product improvements across multiple geographies, has driven growth in active users, order frequency and online restaurants;
- Accelerated UK order growth of 50% year-on-year (H1 2015: 49%), benefitting marginally from poor weather over the summer;
- More than 74% (H1 2015: 69%) of UK orders in Q3 were made via mobile devices, of which more than 41% were by app (H1 2015: 38%);
- Doubled the number of UK restaurants trialling ‘order on its way’ notification to 600, and launched Partner Centre apps – dedicated management tools for Restaurant owners;
- Acquired two small businesses during the Third Quarter, Orderit.ca, in Canada; and Nifty Nosh, in Northern Ireland, to add to our market-leading positions in those geographies; and
- Integration of the Menulog Group, acquired in June 2015, is underway and the business continues to meet expectations.
- Given the strong order growth in the Third Quarter, and our increased confidence going into the Fourth Quarter, management increases its revenue expectations for the full year to slightly above £240 million, up from the £230 million guidance issued in August; and
- Supported by this improved revenue performance, the Group continues to drive growth with increased investment in areas such as improving the customer experience, bringing greater choice to our consumers and driving the channel shift to mobile. As such EBITDA for the full year remains on track and in line with current expectations.
David Buttress, CEO, commented:
"Just Eat delivered a strong quarter of organic order growth. Our strategy of investing in technology and marketing to drive growth has delivered orders ahead of management expectations with an acceleration in order momentum. In the context of this performance, we are raising our revenue guidance for the full year. I would like to thank the whole Just Eat team for their hard work and commitment in delivering these excellent results.”
1. Includes orders from our French business (Alloresto.fr) from July 2014, from our Mexican business (Sindelantal.mx), acquired in February 2015, and the Menulog Group, acquired in June 2015. It excludes orders from our Brazilian joint venture from November 2014 onwards, at which time the business became an associate.
2. Like-for-like growth figures exclude orders in the current and comparable periods for countries where there has been a change in the basis of consolidation.
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 digital marketplace for takeaway food delivery. Headquartered in London, we use proprietary technology to offer a quick and efficient digital ordering service for over 11.5 million users and over 60,000 takeaway restaurants. JUST EAT is a member of the FTSE 250 Index.