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MMM, Marley Spoon AG
nipper
post Posted: Jul 29 2020, 06:15 PM
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Meal kit distributor Marley Spoon has upgraded its full year guidance, saying a shift to online grocery shopping was driving growth in its customer base.

The group said existing customers had increased their order frequency and average size at the onset of the pandemic at the end of the March quarter and into the June quarter, with orders normalising by the end of June. As such, it said it expected 70pc year-on-year revenue growth, up from previous guidance of a 30pc lift.
QUOTE
The 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.

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 pcp



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Jul 15 2020, 03:22 PM
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Marley Spoon AG (MMM) is a subscription-based weekly meal kit service that services customers in three primary regions: Australia, United States and Europe (servicing Austria, Belgium, Germany and the Netherlands). Meal kits offer a convenient option for customers to cook healthy meals with fresh ingredients following chef-designed recipes.

Marley Spoon says it is benefiting from coronavirus-induced lockdowns, with demand for its delivery meal kits almost doubling globally.

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.
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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. This new environment is a strong tailwind for our business, and as a result, our path to profitability is being accelerated.


MarleySpoon sells for around 1.5 times forecast sales, despite hitting a record high of $2.25 a share on Tuesday.

One analyst said:
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They position themselves as complementary to Coles and Woolworths because you don't necessarily order your full seven days from Marley Spoon, you order two to four nights' 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've got this strong position to grow with the market for online penetration.


In June 2019, Woolworths took a 7 per cent stake in Marley Spoon via a $30 million investment. Some analysts are tipping a full takeover bid ahead.



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
 



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