The most important things about Deutsche Bank and Delivery Hero in advance:
- Deutsche Bank aims to deliver a profit for the full year 2020
- Delivery Hero with records in sales and order growth
Deutsche Bank is on the up again in operational terms: after-tax profit amounted to EUR 309 million, after a loss of EUR 832 million in the same period last year. The profit before taxes was 482 million euros, after a loss of 687 million euros in the same quarter of the previous year. “After nine months, our pre-tax profit amounts to 846 million euros,” said CEO Christian Sewing in a letter to his employees. In addition, he is still confident that he will also achieve a positive pre-tax result for the full year.
In a press release he stated: “In the fifth quarter of our transformation, we have shown, in addition to our cost discipline, that we can gain market share. Our focused business model is paying off, and we expect that a significant portion of our earnings growth will prove to be sustainable. ”For example, the Group’s total revenue rose 13 percent in the third quarter, while spending declined 10 percent. According to the information, Deutsche Bank is still on track to achieve its cost target of 19.5 billion euros for 2020.
Investment banking is responsible for this turnaround. In the trading business with bonds and currencies alone, revenues rose by 47 percent. In the interest business, income doubled. Business also went well in the issuing and advisory business, with sales up 15 percent. Overall, the investment bank was able to increase its income by 43 percent to EUR 2.4 billion.
Products on Deutsche Bank
After Delivery Hero almost doubled sales and the number of orders in the third quarter and the gross value of goods increased significantly, the Berlin-based online food supplier is raising its full-year forecast for the lower end of the target corridor.
According to a statement, the food supplier now expects sales of 2.7 to 2.8 billion euros instead of the previous 2.6 to 2.8 billion euros. The DAX newcomer wants to cut back slightly on investments – these see for 2020 up to 120 million euros instead of up to 150 million euros. In the third quarter, Delivery Hero generated sales of EUR 776.4 million, almost twice as much compared to the same quarter of the previous year. The number of orders doubled to around 362 million from 181 million. The gross product value (GMV), which means the total value of the orders including commission fees, rose by 70 percent to 3.36 billion euros from 1.97 billion for The GMV is considered to be the most relevant measure of online marketplaces.
Niklas Östberg, CEO and Co-Founder of Delivery Hero, said: “The third quarter was another record for us in terms of sales and order growth. We continue to focus on expanding our business through strategic investments such as our entry into Japan, the takeover of InstaShop in the MENA region and the Glovo business in Latin America ”.
Products on Delivery Hero AG
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