Just Eat had a great 2014, and this year is looking just as good as international expansion continues
Just Eat had a year of growth, with users, revenue and orders reaching new heights.
The figures
Just Eat's revenue for the year ended 31 December was £157.0m, marking a 62 per cent increase from 2013's figure of £96.8m.
This was driven by a 52 per cent increase in orders and a 37 per cent increase in active users to 8.1m, indicating that more people are using the service and are using it more regularly.
The company's mobile strategy also seems to be paying off – 61 per cent of orders were placed via mobile devices during the period, up from 43 per cent in 2013.
Just Eat says trading momentum has continued into 2015, as investment in areas such as technology, marketing and people continues. As a result, it predicts revenues will exceed £200m this year.
Why it's interesting
Founded in Denmark 14 years ago, the online takeaway service has been heralded by the government as one of the UK's fastest-growing technology firms.
When it listed on the London Stock Exchange last spring, it raised the huge sum of £1.47bn, indicating how much faith investors had in the business.
After initially dipping, shares picked up momentum and have been on an upwards trend since then. They are currently at double their price in mid-May 2014.
The news is unlikely to come as a huge surprise to investors – in November, the company reported a 51 per cent increase in orders during the third quarter.
Its aggressive international expansion and acquisition of other companies has helped it on its way. Since 30 June it has increased its stake in French rival Alloresto.fr to 80 per cent and established a joint venture with Brazilian operator iFood, of which Just Eat owns 25 per cent. Only last month it announced its latest purchase of Mexican startup SinDelantal.
What Just Eat said
Chief executive David Buttress said:
It's been another excellent year for Just Eat. Our results demonstrate how we are successfully building market-leading positions as more consumers discover the ease of use and wide choice of cuisines that our marketplaces for takeaway food offer.I am delighted with the progress we have made both financially and operationally. I remain confident for the year ahead as we focus on our strategic objectives, investing to deliver long-term, sustainable returns for our shareholders.
In short
Just Eat has been on a winning streak for most of the last year, as its acquisitions and expansion strategies have paid off.