Dona Ferentes
Pengurus pengatur
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- 11 January 2016
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“Suddenly demand has been surging; there’s unprecedented demand for our product,” he said. He also hopes the experience of customers over the crisis will “catapult” the business as they make a permanent switch to online food shopping even after the coronavirus crisis subsides.
Before the outbreak, he said, online shopping represented just 2-3 per cent of the total grocery market. That is well below the 20-40 per cent online penetration in other consumer sectors, and closing that gap even partially would be a huge boost for Marley Spoon’s prospects. “I do believe there’s a high chance this behaviour will not go back,” he said.
The ASX-listed German company booked 2020 first quarter revenue of €42.8m ($71.4m), a 46 per cent increase on the previous corresponding quarter, with demand starting to surge as COVID-19 restrictions were implemented in March. Marley Spoon said €22m ($36.6m) of the quarterly revenue had been accrued within a four-week period beginning in the middle of March.
Chief executive Fabian Siegel believes the current conditions are well suited to its at-home cooking subscription service. “First quarter 2020 saw strong performance for both growth as well as operational efficiency even before the sharp uplift due to the COVID-19 crisis,” Mr Siegel said. “This new environment is a strong tailwind for our business, and as a result, our path to profitability is being accelerated"
"They position themselves as complementary to Coles and Woolworths because you do not necessarily order your full seven days from Marley Spoon, you order two to four nights of cooking, but during COVID the basket size is increasing. Groceries is an enormous market worldwide and the online penetration of grocery retailers is one of the last frontiers of digital innovation. So they have got this strong position to grow with the market for online penetration."
Revenue for the quarter was up 129pc versus the previous corresponding period to 73.3 million euros ($120m), while marketing expenses declined, now 13pc of revenue versus 19pc in the pcpThe new customers acquired during Q2 show equally strong or better retetnion as the company normally experiences for new customer additions. This has allowed the company to continue to build up its back book of recurring revenue bsuiness in Q2, which accounts for the vast majority of Marley Spoon’s revenue.
What happened today? -23%
Smashed by Woolworths announcement, I guess?I notice MMM Marley Spoon also taking a dive around the same as wow.
Woof, woof. Another capital raise at 0.165 to fund general working operations and pay off some debt.
i was buying YFZ in April/May 2021 ( kinda ) sadly it was taken over ( although i did crystallize a profit )MMM was one of those COVID-19 stocks that boomed when the market decided in 2020 that everyone would start ordering their meals to be delivered to their home to avoid catching the virus. But reality had other ideas, and MMM has come down to Earth in a big way.
No matter how hard they try, MMM just cannot seem to turn a profit. Too much competition and too much optimism about the future of the sector has conspired against them. I have never seen an investable business here, just a lifestyle fad that has long since worn out its welcome. It smells a lot like the BNPL industry; massively overhyped but ultimately underwhelming.
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