ROUNDUP: Delivery Hero wants to achieve margin target within 10 years – new cities
A salami pizza (symbolic image). pixabay.com
BERLIN (dpa-AFX) – The delivery service Delivery Hero
When exactly Östberg wants to reach the margin target, he left it open. That is difficult given the large number of competitors currently. “If the competition increases their spending, we will have to follow suit,” he said. Some countries would reach the goal faster than other markets. For 2021, the Management Board expects to reach the upper end of the gross goods value of 33 to 35 billion euros. The upper end of the range of 6.4 to 6.7 billion euros should now also be reached for the total sales of the segments.
In terms of the operating result, however, the Management Board continues to expect a high loss. The operating margin based on the gross product value should remain unchanged at around minus two percent. In purely mathematical terms, this means the upper end of a loss between 660 and 700 million euros.
Only this week did the US competitor Doordash
This means that a number of delivery service providers are active in the major cities of Germany. Next to the top dog Just Eat Takeaway
The answer from Delivery Hero followed on Thursday: “We plan to get started in Cologne, Düsseldorf and Stuttgart by the end of the year,” said a spokeswoman. After starting in Berlin, Foodpanda had already expanded to Frankfurt / Main, Hamburg and Munich. With Foodpanda, the group connects the placement of orders to restaurants, the delivery of ordered meals and the delivery of everyday products.
Meanwhile, Delivery Hero continued to grow in the third quarter. The group now includes its South Korean acquisition Woowa and excludes its previous Korean business. Orders went up by around half to 791.4 million compared to the same period last year. The gross value of the goods increased by almost 65 percent to 9.56 billion euros. The revenues of the segments totaled almost 1.8 billion euros and were thus almost twice as high as a year ago.
The food delivery company is doing well, wrote Jefferies analyst Giles Thorne in an initial reaction to the interim report. Orders, gross goods value and the total sales of the segments exceeded expectations. Analyst Rob Joyce from the US bank Goldman Sachs (Goldman Sachs share) joined him. However, he complained that the outlook was a bit poor: the delivery service is probably only planning conservatively here. On the stock market, the numbers made for a price increase of 2.8 percent to 115 euros.
After the soaring last year, which brought the paper into the Dax, the price has been moving in a range between around 100 euros and 130 euros for some time. At the beginning of the year, the paper, which has been quoted since 2017, had reached the record high of 145.40 euros. This year the Delivery Hero share is one of the weakest DAX stocks so far, with a minus of ten percent. In 2020, however, the price had risen by 80 percent. With a stock market value of almost 29 billion euros, the company is in the middle of the now 40 Dax titles./ngu/zb/stk
|Short-term position in Delivery Hero|
|with moderate leverage|
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