1 Jahr Szew SubstackDelivery Hero – DHER.DE
Pitch Summary: Delivery Hero was part of the e-commerce pillar but faced challenges due to Prosus’s divestment, leading to an exit. BSD Analysis: Delivery Hero was included in the e-commerce pillar but was quickly exited due to Prosus’s need to divest its stake, creating uncertainty. The company’s business model remains attractive, but macroeconomic conditions and […]
Neogen Corporation
Pitch Summary: Neogen Corporation is struggling with high leverage and underperformance following its acquisition of 3M Food Safety. Despite efforts to divest non-core assets and reduce debt, the company continues to face challenges in achieving profitability and growth. BSD Analysis: Neogen’s acquisition of 3M Food Safety was intended to double its sales, but instead, it […]
Enero Group Limited (EGG)
Pitch Summary: Enero Group Limited (ASX: EGG) sold its 51% stake in OBMedia to minority shareholders for a nominal amount, incurring a non-cash loss of A$14–16 million. The divestment aligns with Enero’s strategy to focus on its high-performing agencies—Hotwire Global, BMF, and Orchard—to drive growth and value. Enero expects FY25 EBITDA at the upper end […]
