Europe based food ordering company Just Eat Takeaway (TKWY) posted its results for the first half of the year which in fact can be termed as a pandemic fueled first half. In the first half the company reported increased revenue and profits.
Just Eat attributes the good performance to stay at home orders which increased its online orders.
In the first half the company generated adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of 177 million euros ($207 million). This value is on a very much higher side compared to the 76 million euros ($89 millions) it generated in a similar period last year.
Revenue for the first half was up by 44% at 1.03 billion euros, nonetheless net losses in the half year increased from 27 million euros to 158 million euros.
According to the company’s CEO Jitse Groen, the company recorded double digit growth in its major markets. Germany remains its largest market and it recorded over a 100% growth rate in the Europe’s largest economy.
“Just Eat Takeaway.com is in the fortunate position to benefit from continuing tailwinds,” added the CEO.