Delivery Hero SE is a Germany-based company, which is primarily engaged in the food industry. The Company operates as a provider of online food delivery services from restaurants and cafes. The Company offers pizza, burger, organic food, vegan cuisine, and Asian dishes, among others. Its portfolio of brands comprises Foodpanda, Lieferheld, Foodora, PedidosYa, Clickdelivery, Talabat, Yemeksepeti, Donesi, Pauza, Hungerstation, Hellofood, Otlob and others. The Company operates globally, on the territory of more than 40 countries, comprising Europe, the Middle East, North Africa, Asia, and the Americas. The Company's services are available through Web version and mobile application.
Takeaway.com NV. Takeaway.com NV, formerly Takeaway Com Holding BV, is a company based in the Netherlands that operates an online food delivery marketplace. The Company focuses on connecting consumers and restaurants, and allows users to order food from nearby restaurants and have the food delivered to their homes. The Company transmits the order placed by customers and forwards it to restaurants, which prepare and deliver the meal. It is present in Portugal, France, Switzerland, Austria, Luxembourg, Belgium, the Netherlands, Germany, Poland, Bulgaria, Romania and Vietnam, and operates the Websites Lieferando.de, Lieferservice.at, Lieferservice.ch, Pizza.be, Pizza.fr, Pizza.lu, Pizza.pl, Pyszne.pl, BGmenu.com, Oliviera.ro, Takeaway.com, Thuisbezorgd.nl and Vietnammm.com. The platforms feature various kinds of restaurants.
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
We believe that the Just Eat Takeaway investment case has turned a corner. The sale of the iFood minority eliminated balance sheet risk, the business has become adj EBITDA profitable, competition is rationalizing, and the US business is set to strongly improve following the Amazon partnership and the likely cancellations of New York fee-caps. We increase our EBITDA estimates, reiterating our BUY and €40 target price. Just Eat Takeaway is on the ING Benelux Favourites list.
We have a positive stance on environment stocks given their clear undervaluation owing to concerns around a severe recession, while increasingly strict regulations are set to support their growth profile. On this basis, we prefer Veolia, Séché Environnement and Befesa in the short term. Renewi and Derichebourg are undermined by their marked sensitivity to recycled raw materials prices. Lastly, Carbios and Orège, with their early-stage profile, represent long-term opportunities. - ...
Nous avons un biais positif sur les valeurs d’environnement en raison de leur sous-valorisation manifeste, par crainte d’une récession sévère, alors que les réglementations contraignantes doivent soutenir leur profil de croissance. Ainsi, nous privilégions Veolia, Séché Environnement. et Befesa à court terme. Renewi et Derichebourg sont pénalisés par leur forte sensibilité aux prix des matières recyclées. Enfin, Carbios et Orège, au profil early stage, représentent des opportunités à ...
Entry into the processing software segment comfort us in the ability of Basler to strenghten even more its fundamentals in the Medium Term. Realistic comments from the CFO on the economic outllook during our roadshow in Paris lead us to adopt a slightly more cautious stance on (i) short-term outlook in terms of sales and margins while we remain confindent on the FY25 EUR400m sales guidance. However, we reiterate our NEUTRAL rating as we see no upside catalyst in end FY22e,. Our DCF valuation now points to a EUR29 TP (vs EUR33).
We downgrade our rating to Neutral from Buy and have cut our DCF-derived target price to CHF58 from CHF118 - with very limited upside potential - following the profit warning announced on 13th October. We have slashed our adj. EPS estimates by 18-28% over 2022-2025, and have been more conservative in our medium-term assumptions and WACC. In this context of absence of economic visibility, banks think twice before investing in a transformation project, thus translating into lenghtened decision cycles – notwithstanding poor sales execution during the last few months. Finally, while share price pe...
We view inflation as a catalyst to accelerate outsourcing and bring people back to office. In this context, Facility Management companies have proven pricing power and they have demonstrated their capacity in cutting costs. Based on our analysis, we confirm our positive outlook for guidance on FY 2022 margins and a potential improvement in 2023. We continue to prioritize Compass, ISS and Elis in our coverage
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