February 28, 2018 / 7:37 AM / 3 months ago

Takeaway.com grows in Germany, but annual loss widens

Feb 28 (Reuters) - Takeaway.com said on Wednesday its net loss for 2017 widened by more than a third even as revenue rose sharply, as the Dutch food delivery provider invested heavily in marketing.

Full-year revenue grew by 49 percent to 166.5 million euros ($203.70 million) in 2017, boosted by strong growth in its second-biggest market, Germany, which posted growth of 57 percent.

However, the net loss for the year widened by 36 percent to 42 million euros, mainly due to marketing expenses to strengthen its position in Germany and Poland and staff expansion.

The group said it anticipated a loss for 2018, but said it expects to stem the decline.

Takeaway.com Chief Executive Jitse Groen said in January that he sees a merger with German peer Delivery Hero as a possibility in a potential consolidation of the European meal delivery market.

$1 = 0.8174 euros Reporting by Manon Jacob, editing by Louise Heavens

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