Konzernabschluss Zum Geschäftsjahr Vom 01.01.2021 Bis Zum 31.12.2021 - Just Eat Takeaway.com N.V.Amsterdam
| Published date | 17 Enero 2023 |
| Section | Rechnungslegung / Finanzberichte |
| Issuer | Just Eat Takeaway.com N.V.Amsterdam |
Just Eat Takeaway.com N.V.
Amsterdam
Konzernabschluss zum Geschäftsjahr vom 01.01.2021 bis zum 31.12.2021
Annual Report 2021
About this report
This annual report is available as a PDF, on our website justeattakeaway.com and as a limited print version. The PDF/print version of this annual report has been prepared for ease of use and does not contain ESEF information as specified in the Regulatory Technical Standards on ESEF (Delegated Regulation (EU) 2019/815). The official ESEF reporting package is available via Just Eat Takeaway.com’s website at www.justeattakeaway.com. In case of any discrepancies between this PDF version and the ESEF package, the latter prevails.
Forward-looking statements
This annual report may contain forward-looking statements. These statements are only predictions and are not guarantees. Actual events or the results of our operations could differ materially from those expressed or implied in the forward-looking statements. Forward looking statements are typically identified by the use of terms such as “may”, “will”, “should”, “expect”, “could”, “intend”, “plan”, “anticipate”, “estimate”, “believe”, “continue”, “predict”, “potential” or the negative of such terms and other comparable terminology. The forward-looking statements contained herein speak only as of the date they are made. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. Actual results may differ materially from those expressed in these forward-looking statements, and you should not place undue reliance on them. For a discussion of factors that could cause future results to differ from such forward-looking statements, see also the section ‘Risk Management’ of this annual report. You will be solely responsible for your own assessment of the market and the market position of Just Eat Takeaway.com and you will conduct your own analysis and be solely responsible for forming your own view of the potential future performance of Just Eat Takeaway.com’s business. This document does not constitute or form part of, and should not be constructed as, an offer or invitation to subscribe for or purchase any Just Eat Takeaway.com securities.
Market and Industry Data
References to market share and position are Just Eat Takeaway.com’s estimates based on the latest available data from a number of internal and external sources. Sources used by Just Eat Takeaway.com include: data and web traffic monitoring (Google Trends from Google Inc and Total web and mobile visits from Similarweb), app download and use data (App Annie), credit card use data (Cardlytics) and email receipt analysis (Fox Intelligence), and inhabitant numbers (Michael Bauer Research GmbH). While we believe that the publicly available information and industry publications we use are reliable, we have not independently verified market and industry data from third-party sources. Moreover, while we believe our internal surveys are reliable, they have not been verified by any independent source.
01 The Company
Highlights 2021
At a glance 2021
Message from the CEO
Company profile
Who we are
Our business model
History
Our Segments
02 Report of the Management Board
Our Strategy
Our Product and Technology
Our Brand
Our Operations
Our Stakeholders
Our Consumers
Our Partners
Our People
Our Responsible business and Sustainability approach
Our Shareholders
Our performance in 2021
Performance review
Financial review of 2021
Financial Statements review - on an IFRS basis
Statements by the Managing Directors
03 Governance
Management Board and Supervisory Board Composition
Report of the Supervisory Board
Report of the Remuneration & Nomination Committee
Remuneration in 2021
Governance and compliance
Report of the Audit Committee
Risk management
Privacy of our stakeholders
04 Financial Statements
Consolidated statement of profit or loss and other comprehensive loss
Consolidated statement of financial position
Consolidated statement of changes in equity
Consolidated statement of cash flows
Notes to the Consolidated financial statements
Company statement of profit or loss
Company statement of financial position
Notes to the Company financial statements
05 Other Information
Independent auditor’s report
Three-year key figures
Just Eat Takeaway.com address
Glossary
01 The Company
Highlights 2021
Processed 1.1 billion Orders from 99 million Active Consumers
Completed the acquisition of Grubhub in the United States
Announced several on-demand convenience grocery delivery partnership globally and Skip Express Lane fulfilment centres being rolled out nationally in Canada
Launched our ambitious Responsible Business and Sustainability framework and published our carbon footprint
The Grubhub and Just Eat businesses were consolidated on an IFRS basis from 15 June 2021 and 15 April 2020 respectively. The figures in the parts 01-03 (The Company, Report of the Management Board and Governance) of this annual report, unless stated otherwise, are presented as if the combinations were completed on 1 January 2019 to provide comparable information on a combined basis. The Acquired German Businesses were consolidated into Just Eat Takeaway.com from 1 April 2019. Bistro.sk was consolidated into Just Eat Takeaway.com from 30 September 2021. The combined figures do not reflect the operations or results of the Acquired German Businesses and Bistro.sk prior to 1 April 2019 and 30 September 2021 respectively.
Due to rounding, amounts in the tables may not add up precisely to the totals provided. Percentages used are based on unrounded figures.
At a glance 2021
“Profitability is in our DNA, and we are uniquely positioned by owning so many highly-profitable positions already”
- Jitse Groen, CEO
Message from the CEO
Dear reader,
2021 was another year of strong growth, despite a challenging environment due to the Covid-19 pandemic. We continued the integration of Just Eat and Takeaway.com, and Grubhub joined our business in June. Just Eat Takeaway’s platform for future growth is in an even stronger position than when we started the year, and we expect that our improved scale and position will strengthen our leadership positions and profitability going forward.
Following the combination of Just Eat and Takeaway.com in 2020, we have continued to invest significantly in the legacy Just Eat markets. This has led to a dramatic increase in our rate of growth, with orders now six times higher than what they were nearly two years ago. Our investments in the UK business, already the largest food delivery platform in Europe, translated into this part of our business more than doubling in size during the pandemic. As another example, we also saw impressive growth in our Australian business.
Highly profitable legacy Takeaway.com markets like Germany and the Netherlands have continued to grow, and we are confident that we will further increase the size and profitability of these fantastic businesses in the year(s) ahead.
In June 2021, we completed the all-share transaction of Grubhub in the US. While Grubhub has some specific issues today, it is a large and growing business with good underlying profitability. While we have a clear improvement plan to refocus on key strongholds, we are continuing to explore opportunities with several potential strategic partners to further strengthen Grubhub’s position in the US.
During the past year, we have evolved to become more of a hybrid food delivery platform, with a very significant Delivery share alongside our impressive marketplace business. We are working relentlessly to enhance our technology and increase the efficiency of our algorithms and we made great progress in 2021. While Delivery, excluding fee caps, is already profitable in Canada and the United States, scale is very important to ensure Delivery also becomes profitable in Europe. We are well advanced in our objective to achieve such scale, and in combination with our marketplace network, we believe we are uniquely positioned. We have also started to diversify our Delivery network by adding a convenience offering, which will be further developed in the coming period.
Our sponsorship of both the UEFA Euro 2020™ football tournament in the summer of 2021, and of the UEFA Champions League have helped to further establish us as a major household brand in many of the countries in which we operate.
I would like to thank our staff, couriers, consumers, partners, shareholders, Supervisory Board and works councils, for their ongoing support to achieve our vision ‘to empower every food moment’.
2022 will be a crucial year for our industry. We expect to see more rational behaviour in the sector and a further market rotation towards profitability, both of which will be beneficial for Just Eat Takeaway.com. Profitability is in our DNA, and we are uniquely positioned by owning so many highly-profitable positions already. The team is working hard to make 2022 a successful year for both the Company and our stakeholders.
Just Eat Takeaway.com
Jitse Groen, CEO and founder
Company profile
Just Eat Takeaway.com is a leading global online food delivery company, connecting tens of millions of consumers with their local partners, and benefitting from an attractive business model with powerful network effects.
Who we are
Just Eat Takeaway.com is a leading global online food delivery marketplace, connecting nearly one hundred million consumers with 634 thousand local partners through our apps and websites, and with leading positions in attractive markets. As per 31 December 2021, Just Eat Takeaway.com operated in 23 markets divided in four reporting segments: North America (Canada and the United States)...
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