The minus was almost seven times as high as in 2020. The company also had to lose its feathers in its operating business: After adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) of 363 million euros in 2020, the group recorded an operating loss of 350 million in 2021 euros, as the Delivery Hero competitor announced on Wednesday in Amsterdam.
CEO Jitse Groen now wants to significantly reduce investments to gain market share and run a profitable business again. He expects a significant boost from the Northern Europe segment with countries such as Germany, Belgium and Austria. Northern Europe is the “most profitable segment in the industry,” it said. In addition, Just Eat Takeaway.com makes almost half of its sales in this area. Group revenue rose by a third over the previous year to EUR 5.3 billion.
The company confirmed the guidance for 2022 and beyond. Accordingly, the transaction volume (GTV) in the current year should increase in the mid double-digit percentage range and the margin should improve to minus 0.8 to minus 0.6 percent. “2021 was the peak of the losses,” the statement said. The company reiterated earlier statements.
In Germany, Lieferando continues to dominate the market for online restaurant orders and food deliveries. The US giant DoorDash is now also involved in several major cities through its acquisition of Wolt and Uber Eats (Uber) – the latter announced on Tuesday that it wanted to start in at least 50 other cities in Germany this year.
With such ambitious expansion plans, Delivery Hero wanted to gain a foothold in Germany again last year, but stopped its experiment after just a few months due to the tough competition.
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