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CTO Just Eat Revenue

Just Eat's singalong ad campaign hits a high note as board ups revenue forecast


By Katie Deighton, Senior Reporter

May 3, 2016 | 3 min read

Online takeaway platform Just Eat has increased its 2016 revenue forecast from £350m to £358m, following on from a 41 per cent like-for-like uplift in order sales for the first quarter of this year.

Growth in the UK was particularly strong for the brand, which currently operates in 13 countries.

Just Eat reported orders in the country were up 40 per cent - a financial response that coincides with the national ad campaign featuring parody songs such as "I see you baby, chicken madras" and "I need a Balti".

Projected underlying EBITDA (earnings before interest, tax, depreciation and amortisation) have also been upped to £102m-£104m, an increase from £98m-£100m.

David Buttress, the Danish brand's chief executive officer, underlined in his statement that the company is ready to take on any "channel shift" that occurs across the online takeaway category.

This sentiment was echoed earlier in the year by main rival Hungryhouse, whose new CEO announced plans to better personalise the app and web experience in a space where seven in 10 takeaway orders are still placed over the phone.

Among the biggest challenge to staying competitive for takeaway apps is ensuring local restaurants are choosing to deliver through its platform over others. Just Eat hopes to keep its restaurant partners on side with the introduction of one percentage point increase in commission rates for existing UK restaurants, and a move from twice monthly to weekly payments.

Maintaining global growth will also play a big part in the brand's focus going forward, having acquired PizzaBo/Hellofood in Italy, Hellofood in Brazil and Mexico and La Nevera Roja in Spain in the first quarter of this year. Its Latin American joint venture, iFood, achieved 160 per cent order growth in Brazil.

Just Eat additionally used the results announcement to highlight the hire of ex-Microsoft man Fernando Fanton as chief product and technology officer, who joins from research platform He replaces Carlos Morgado, who left the company after seven years in March in order to "pursue other opportunities".

CTO Just Eat Revenue

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