Q3 2018 Update
Strong Q3 performance; on track to meet full year expectations
Just Eat plc (LSE: JE.) (“Just Eat” or the “Group”), a leading global marketplace for online food delivery, today updates the market on its performance over the three and nine months to 30 September 2018 ("Q3" and “YTD” respectively).
|Group revenue (£m)||195.3||553.7|
|Constant currency basis||43%||45%|
- Revenue up 41% to £195.3 million driven by strong marketplace order growth, accelerating growth of delivery orders and the inclusion of Hungryhouse.
- Group orders were up 27% to 54.7 million with more than 57% of orders being made by app (Q3 2017: 50%).
- UK orders increased by 16% to 30.3 million, driven by strong trading in September, including our first ever weekend with over one million orders, reducing the impact of exceptionally hot weather in July and August.
- SkipTheDishes, our market-leading Canadian food delivery business, continued to grow triple digits with the launch of multi-language capabilities. This latest update enabled full coverage across Canada, with expansion into Quebec, and supported the launch of new branded restaurant partners, including McDonald’s and Tim Hortons.
- Our Australian business completed the Group’s pioneering integration of SkipTheDishes’ world-class delivery platform with Menulog’s marketplace, creating a hybrid service which gives customers the best of both worlds through access to more choice and better service.
- International order growth was strong, powered by new restaurant partner sign-ups across tier 2, 3 and 4 cities.
As we approach the end of the financial year, the Board now anticipates full year revenues to be towards the top end of the £740 to £770 million range and underlying EBITDA to be towards the lower end of the £165 to £185 million range, primarily reflecting investments in our dynamic LatAm markets in addition to our delivery initiatives.
Peter Plumb, CEO of Just Eat Plc commented:
“The Group has delivered another strong quarter as we helped our 97,000+ restaurant partners serve over 54 million takeaways to millions of hungry customers. Our increased investments in delivery, brand and data are already taking the Just Eat brands to more customers, making it easier for them to order from a widening choice, ensuring their takeaway moments are even more enjoyable. Our delivery expansion plans are on track, ensuring we give customers exactly what they want, and I’m very pleased with the progress we are making against our strategic objectives.”