Takeaway reports surging revenues, bigger loss in first-half

Signage for Just Eat is seen on the window of a restaurant in London
FILE PHOTO: Signage for Just Eat is seen on the window of a restaurant in London, Britain, August 5, 2019. REUTERS/Toby Melville.

August 12, 2020

AMSTERDAM (Reuters) – Online food ordering company Just Eat Takeaway.com NV <TKWY.AS> reported higher revenues and underlying profit for the first half of 2020, and a bigger loss, as the coronavirus pandemic led to a surge in orders and restaurants flocking to its services.

Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) was 177 million euros ($207 million), up from 76 million euros in the same period a year earlier, the company said on Wednesday.

Revenue was up 44% to 1.03 billion, while the net loss increased to 158 million euros from 27 million euros.

In a preview of earnings, analysts at ING had forecast a 39% rise in revenue to 1.03 billion euros and EBITDA of 110 million euros.

(Reporting by Toby Sterling; Editing by Muralikumar Anantharaman)