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SHARES IN FOCUS 2: Exiting the German market drives Delivery Hero up

Wednesday, 12/22/2021 6:08 PM from

dpa-AFX

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Flag of the Federal Republic of Germany. pixabay.com

(new: share prices updated and analyst comment in the 5th paragraph)

FRANKFURT / AMSTERDAM (dpa-AFX) – After heavy price losses in recent weeks, the shares of Delivery Hero are Was a buy again on Wednesday. The online provider stops the food delivery service in Germany after a short time. That was well received on the stock exchange, at the close of trading the paper rose by 7.4 percent to a good 99 euros and was by a large margin at the top of the leading index Dax .

Foodpanda Germany will end its activities in six German cities and will only have one development department in Berlin. It was only in May that the Berliners announced that they would again offer a delivery service in German cities. The move now allows funds to be shifted to attractive growth markets and businesses, it said. The Foodpanda business in Japan is also expected to be sold in the first quarter of 2022.

A trader pointed out that competition on the German market had recently become even tougher. For example, the entry of Doordash rescues from the USA risks. Delivery Hero would also probably have had to increase spending in Germany in 2022, which would have affected profitability.

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