Report
Clement Genelot

DELIVERY HERO: Withdrawing from the Balkans | BUY | EUR158(+44%)

DELIVERY HERO - BUY | EUR158(+44%)
Withdrawing from the Balkans

Delivery Hero to sell its business in the Balkan region to Glovo
About 1% of the group’s GMV is concerned
Delivery Hero’s exposure to emerging markets remains appealing
Buy reiterated
Underlying
Delivery Hero SE

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.

Provider
Bryan Garnier
Bryan Garnier

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.

Analysts
Clement Genelot

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