TAKEAWAY : 15-03-2017 Press release FY 2016 Results

• Takeaway.com processed 49.3 million orders in 2016, representing an order growth of 46% compared with 2015, further cementing its market leadership positions in its five Leading Markets (the Netherlands, Germany, Belgium, Austria and Poland).

• In the Leading Markets, the company had approximately a 62% share of the online food delivery marketplaces in 2016, up from 57% in 2015. Takeaway.com accounted for almost the entire growth of the online food delivery marketplaces in these markets. In each of the Leading Markets, Takeaway.com is now significantly larger than the number two.

• In all Leading Markets, Takeaway.com's marketing budgets far exceeded those of the number two, resulting in the highest visibility and brand awareness in these markets.

• Our network effects have been strengthened which is reflected by an increase in Active Consumers, returning Active Consumers and order frequency of returning Active Consumers in all our Leading Markets.

• Revenue growth was 45% to €111.6 million in 2016, from €76.7 million in 2015.

• Adjusted EBITDA1 was minus €18.3 million in 2016, in accordance with our growth strategy.

• Netherlands' EBITDA further increased to €34.7 million in 2016, resulting in an Adjusted EBITDA margin2 of 63%, the same level as 2015.

• Germany and Other markets had negative EBITDA due to significant investments to fuel growth and to

  reach the scale necessary to become profitable.

• In 2016, Takeaway.com launched Scoober, our restaurant delivery services, which is currently operating in 17 European cities for restaurants without own delivery, thereby expanding our restaurant offering to consumers and enhancing our network effects. However, we currently do not believe that Scoober is going to contribute significantly to our profits.

• Takeaway.com made four strategic acquisitions (Just Eat Benelux, Food-Express, Tante Bep and Resto- in) in line with its strategy to further expand its leadership positions.

• Takeaway.com ceased its operations in the United Kingdom in August 2016, demonstrating its disciplined portfolio management by exiting markets in which there is no clear path to market leadership. This is expected to deliver net savings of approximately €1 million per annum.

• The successful Initial Public Offering ("IPO") provided Takeaway.com with capital to strengthen its operations, fund investments in future growth and enhance financial flexibility.

• Takeaway.com will continue its strategy to further improve its offering to consumers and restaurants through investments in technology, marketing, product development, expansion of Scoober and recruitment of staff.

• Takeaway.com reiterates its financial and operational medium term objectives as communicated at the time of the IPO.

• Per 1 January 2017, the company increased its effective commission rate by around 0.8% in both Germany and Other, which will lead to an average commission rate of approximately 10% in Germany and ca. 10.5% in Other.

1. Profit or loss for the period before depreciation, amortisation, finance income and expenses, share-based payments, share of loss of joint ventures, non-recurring items and income tax expense

2. Adjusted EBITDA / Revenue

   Takeaway.com N.V. (AMS: TKWY), hereinafter the "company", or together with its group companies "Takeaway.com", the leading online food delivery marketplace in Continental Europe, hereby reports its financial results for the full year 2016. In addition, Takeaway.com published its annual report 2016. The report can be viewed or downloaded as a PDF file at our corporate website: https://corporate.takeaway.com. Statement of Jitse Groen, CEO of Takeaway.com

   "2016 has been an exciting and eventful year for Takeaway.com. We made four strategic acquisitions and successfully listed our company at Euronext Amsterdam. Founded in 2000, Takeaway.com has grown mostly organically to become the leading online food delivery marketplace in Continental Europe. We have increased our highly recurring and predictable consumer base, which led to strong order and revenue growth in 2016.

   I am especially proud of the acceleration in our growth that we have shown right after the IPO. Showing that our company was able to keep its focus, despite having the arguable distraction of an IPO. Our order growth overall was strong, especially in the fourth quarter of 2016. In Germany, where we established clear market leadership, our share in terms of orders is now approximately as large as that of the number two and number three websites combined, demonstrating both our progress and determination.

   We are confident we can deliver on the medium term objectives as set at the time of the IPO and we will continue to invest in our offering to our consumers and restaurants through technology, marketing, product development and our Scoober restaurant delivery services. We are well-positioned for further growth as we have seen more consumers order food online more frequently."

   Performance highlights

   2016	2015	2016 to 2015
   (Thousands, except where indicated)	111,641	76,736	(% change, except where indicated)
   Key Financial Indicators (€)			45%
   Revenue
   Netherlands	55,253	41,871	32%
   Germany	36,809	24,085	53%
   Other	19,579	10,780	82%
   Gross profit	96,032	69,382	38%
   Marketing expenses	(82,600)	(59,048)	40%
   EBITDA	(18,276)	(13,788)	33%
   Netherlands	34,746	26,463	31%
   Germany	(39,402)	(28,568)	38%
   Other	(13,620)	(11,683)	17%
   Loss for the period	(30,887)	(19,566)	58%

   2016	2015	2016 to 2015
   (Thousands, except where indicated)	28,787	24,946	(% change, except where indicated)
   Key Performance Indicators			15%
   Restaurants (#)3
   Active Consumers3	8,899	6,732	32%
   Orders	49,321	33,711	46%
   Netherlands	21,083	15,946	32%
   Germany	17,341	11,693	48%
   Other	10,897	6,072	79%
   Returning Active Consumers as % of Active Consumers (%)3	57%	53%	4%
   Orders per Returning Active Consumer (#)	10.5	10.1	0.4
   Average Order Value (€)	19.09	19.32	(0.23)
   GMV (in millions €)	941.7	651.3	45%

   Medium term objectives

   At Takeaway.com we believe that our business model offers highly attractive economics. In our first and largest market, the Netherlands, we achieved an (post headquarter allocation) EBITDA margin of 63% in 2016, which was consistent with the previous year, despite a 32% growth in orders and revenues. While our peers do not provide fully comparable profitability figures, we believe that our Dutch business is the most profitable marketplace in the online food delivery industry globally.

   In addition to the Netherlands, our Belgian business was profitable on a full year 2016 basis. This was as a result of both organic growth and the Just Eat Benelux acquisition. We are not yet profitable in our other markets due to the high marketing expenses required to build brand awareness and market share. We consider these expenses to be an upfront investment with the potential for an attractive return over the longer term.

   Management is confident to achieve the following medium term objectives, as set at the time of the IPO:

   • Takeaway.com aims for order growth to exceed 25% per annum in the medium term (targeting greater than 30% compounded annual growth rate (CAGR) from 2015 to 2018);

   • Takeaway.com is seeking to achieve revenue growth which continues to exceed order growth after 2016;

   • Takeaway.com is seeking to achieve a positive EBITDA margin for both its Germany segment and the company as a whole within two to three years following its IPO; and

   • The company aims for EBITDA margin in the Netherlands to continue to increase.

     The group's ability to achieve these objectives will depend upon a number of factors outside of its control, including significant business, economic and competitive uncertainties and contingencies.

3. Excludes the United Kingdom, for which operations were discontinued in August 2016

The financial information included in the CFO update and financial review is derived from the annual report 2016. The annual report is yet to be adopted by the General Meeting. The company's Annual General Meeting is scheduled to be held on 18 May 2017. In accordance with section 393, Title 9, Book 2 of the Netherlands Civil Code, Deloitte Accountants B.V. has issued an unqualified auditors' opinion on the annual report.

Consolidated statement of profit or loss and other comprehensive loss for the year ended 31 December

Revenue

Revenue consists of commission revenue, online payment services revenue and other revenue items such as merchandising revenue and white label revenue. In particular, the first two revenue items are fully driven by an increasing number of orders combined with increased average commission rates, as well as continued adoption of online payment methods by consumers.

In 2016, Takeaway.com generated revenue of €111.6 million, a 45% increase from €76.7 million in 2015. The increase in revenue in 2016 was the result of growth in orders in each of our Leading Markets as well as increased average commission rates in the Netherlands and Austria. Revenue growth was largely achieved organically during this period.

Commission revenue was €99.9 million in 2016, representing 89% of total revenue compared to 80% in 2015. This increasing share was caused by the increased average commission rates in the Netherlands and Austria, the introduction of the €0.19 administrative fee per order in the Netherlands (which is classified as commission revenue), and the reduction in payment services revenue in the Netherlands.

Despite that the percentage of orders paid online increased to 51% in 2016 from 46% in 2015, revenue from online payments decreased to €8.1 million in 2016 from €12.0 million in 2015. This drop was fully caused by the reduced online payment charges in the Netherlands which were introduced at the beginning of 2016.