Sales soar at Takeaway.com but losses deepen

Takeaway.com made a loss of €115.5m in 2019, compared with €14.0 million in 2018. It said the cost of sales was €110.9m in 2019, 154% higher than in 2018, after it grew from 38 cities at the end of 2018 to 91 in 2019. Delivery expenses added up to €73.9m, representing 67% of its cost of sales. It said “excluding the impact of delivery expenses, cost of sales increased by 86% year-on-year, above order growth, driven by growth in the share of online payments, growing share of merchandise items and increased printer costs driven by the onboarding of new restaurants.”