📊 Underlying Delivery Hero $DHER (+7,06%)
- Current share price: ~€23
- 12-month range: € 19.7 - € 42
- Performance 1 year: -21%
- Turnover: just under € 10 billion (2023)
- Forecast: almost break-even in 2025, first profits expected in 2026
- Vola: 40-60% → not for the faint-hearted 🌀
💡 New issue: Deka Express certificate "Memory with airbag" (WKN DK1GKX)
- 12% interest p. a. 💸
- Memory effect: missed interest can be made up for
- Airbag protection: up to -50% fall in share price
- Early repayment possible if the share is above the redemption threshold
😎 Opportunities
- Fat coupon of 12 % annually
- Memory makes it more robust in the event of setbacks
- Airbag cushions the strong vola
⚠️ Risks
- Below the 50% barrier → Repayment in shares (risk of loss)
- Invest directly in the share = more upside, but also more stress
🧘 My conclusion
Delivery Hero is still a grab bag: sales are growing, profitability is getting closer, but Spain/Glovo remains a big question mark. If you want a return and don't want to jump straight into the deep end, the certificate is a more relaxed alternative.
👉 Now it's your turn:
What do you think - 12 % p. a. with airbag up to -50 % ... clever move or would you rather keep your hands off and play the share directly? 🤔
