《大行報告》高盛引述美團(03690.HK)指7至8月營運趨勢令人鼓舞 料9月外賣訂單維持增長逾20%
美團-W(03690.HK)今日股價造好,最新報190.6元升3%。高盛發表報告表示,昨為美團舉行投資者會議,引述美團管理層透露7月及8月營運趨勢令人鼓舞,8月份外賣每日訂單量恢復到逾20%增長,對比7月份10%至13%(low teens)及6月份10%,管理料9月外賣每日訂單量可維持約20%增長。
報告又指,至於「美團閃購」的日訂單量在七夕節(今年8月4日)錄高峰超過970萬,對比今年第二季度日均訂單量為430萬。 第三是8月到店業務總交易額(GTV)按年增長30%(店內用餐增40%/店內其他服務按年升20%),對比7月按年增長 15%。
美團管理層指重申公司長期第一個目標至2025年每天外賣訂單達到1億份,爭取每筆訂單的息稅前利潤為1元人民幣,意味著外賣總交易額(GTV)利潤率為 2%,對比全球同業目標為中間個位數 (mid-single digits),第二個目標是至2025年「美團閃購」每日1,000萬個訂單,從長遠來看,單位經濟至少與送餐相似,第三目標是到店、酒店及旅遊業務的未來五年的收入複合年增長率為25%。
高盛表示,維持對美團「買入」評級及目標價275元。
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