Solactive Food Delivery Index (NTR)
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Public Advertisement Solactive Food Delivery Index (NTR) Eat at home like you would in a restaurant May 2020 Public Order food online, and have it delivered to your home May 2020 The industry’s growth drivers include comfort and a wide range of products There is increasing demand for comfort: Instead of standing in the kitchen after a long day at work, people find it easier and more convenient to have fresh food delivered to their homes. There is a broader selection: More than just pizza – platforms combine offers from different restaurants and accept orders for a fee. Delivery logistics: Some platforms have extended their business models and now take over the restaurant’s task of delivering food to customers (Platform-to-consumer delivery) Source: Deloitte “Delivering Growth,” November 2019 2 Public Extensive selection meets growing demand May 2020 Consumers’ motivation to have food delivered to their homes Outside of Long mealtimes (after working hours going out) Reward/ enjoyment Lack of time For social occasions (inviting friends) Source: Deloitte “Delivering Growth,” November 2019 3 Public Different business models May 2020 Restaurant-to-consumer delivery Platform-to-consumer delivery • Restaurant-to-consumer delivery first became • Platforms such as the recently merged Just Eat established because it was easy for Takeaway.com combine offers from different restaurants to switch from phone to online restaurants and accept orders for a fee. orders. • Some service providers such as Uber Eats, • Global fast food chains such as Domino’s and Grubhub, and Deliveroo have expanded their Papa John’s International have expanded their business models and now perform the restaurants’ digital sales. task of delivering food to customers. • This allows restaurants to optimize underutilized capacities in their kitchens without having to organize their own delivery services. Sources: Deloitte Delivering Growth, “November 2019,” Statista May 2020 4 Public Estimated food delivery sales trend May 2020 Since Pizza Hut launched its first online ordering service in 1994, online delivery services have turned into a business worth billions. 200’000 Highlights 180’000 • Sales in the online food delivery 160’000 segment are estimated to reach 140’000 USD 136 billion in 2020. 120’000 • Estimated sales growth: 7.5 % 100’000 p.a. to USD 182 billion by 2024. 80’000 • With • USD 52 billion (2020), China 60’000 has the highest share of sales. 40’000 In millions of USD, worldwide USD, of millions In 20’000 0 2017 2018 2019 2020 2021 2022 2023 2024 Platform-to-Consumer Delivery Restaurant-to-Consumer Delivery Source: Statista (effects of COVID-19 taken into consideration), May 2020 Note: Past market performance and simulations are not reliable indicators of future performance. 5 Public The Solactive Food Delivery Index (NTR) comprises securities from 20 food delivery companies May 2020 Index concept UNIVERSE • Equities with a listing on a stock exchange in a country that Solactive defines as industrial LIQUIDITY AND • Market capitalization ≥ USD 750 million SIZE CRITERIA • Average daily trading volume ≥ USD 5 million over the last six months • A language algorithm searches publicly available information for terms that describe the theme of the index. • Every company from the index universe receives a number of points based on its focus on this sector. SELECTION • The selection is then checked to see whether a relevant portion of their business activities take place in food delivery. SECURITIES • The 20 companies with the highest point score are listed in the Solactive Food Delivery Index (NTR). SELECTION • Each index member has a weighting of 5 percent at the start date. Index currency: USD. • Rebalancing takes place every six months. REBALANCING • Index members are checked for liquidity, size, and selection criteria and are switched out if necessary. • The weightings of stocks comprising the index are rebalanced to 5 percent. Source: Solactive. The Solactive Food Delivery Index (NTR) is an index calculated, published, and distributed by Solactive AG. To follow the index visit: www.solactive.com 6 Public Invest in food delivery equities with only one transaction Solactive Food Delivery Index (NTR) May 2020 Initial index composition on June 8, 2020* Company Segment Currency Country Weighting Index composition Amazon.com, Inc. Internet retail USD US 5% Alphabet Inc. Class A Internet software/services USD US 5% Alibaba Group Holding Ltd. USD 5% Internet retail Sponsored ADR China 15% Walmart Inc. Food retail USD US 5% Costco Wholesale Corporation Platform USD US 5% 30% Meituan Dianping Class B Internet software/services HKD China 5% Uber Technologies, Inc. Platform USD US 5% 15% Kroger Co. Food retail USD US 5% Yum! Brands, Inc. Restaurants USD US 5% Chipotle Mexican Grill, Inc. Restaurants USD US 5% USD 5% Yum China Holdings, Inc. Restaurants China 10% Delivery Hero SE Platform EUR Germany 5% EUR 5% Just Eat Takeaway.com N.V. Platform Netherlands 30% Domino’s Pizza, Inc. Restaurants USD US 5% Yandex NV Class A Internet software/services USD Russia 5% HelloFresh SE Internet retail EUR Germany 5% Grubhub, Inc. Platform USD US 5% Platform USD 5% BJ’s Wholesale Club Holdings, Inc. US Internet retail Wingstop, Inc. Restaurants USD US 5% Internet Software/Services Papa John’s International, Inc. Restaurants USD US 5% Food retail Platform Restaurants *Source: Solactive, as of the index start date June 8, 2020. The Solactive Food Delivery Index (NTR) is an index calculated, published, and distributed by Solactive AG. To follow the index visit: www.solactive.com 7 Public Product details Solactive Food Delivery Index (NTR) May 2020 Must be subscribed by: PRODUCT DETAILS* June 5, 2020, 3 p.m. CET SSPA product type Trackercertificate (1300) Underlying Solactive Food Delivery Index (NTR) Initial fixing/payment June 8, 2020/June 15, 2020 Duration Open-ended Management fee 1.20% Listing Boerse Frankfurt Zertifikate Premium, Boerse Stuttgart (Euwax) Issuer Bank Vontobel AG, Zurich (Moody’s long-term deposit rating: Aa3) Guarantor Vontobel Holding AG, Zurich (Moody’s long-term issuer rating A3) Index calculation agent Solactive AG, Platz der Einheit 1, 60327 Frankfurt am Main, Germany Currency EUR ISIN / German Security Number DE000VP3SFD4 / VP3SFD Issue price EUR 100.50 (plus EUR 1.00 issuing commission) Basic price USD 100.00 KID Final Terms Product *All information is indicative and may be adjusted. 8 Public Index composition* Solactive Food Delivery Index (NTR) May 2020 Amazon.com, Inc. Alphabet Inc. Class A Alibaba Group Spons. ADR Walmart Inc. Costco Wholesale Corp. US US China US US Headquartered in Seattle, Google’s parent company is Alibaba is a Chinese tech Walmart Inc. is a US retail Costco is the second largest Amazon is a global tech group strengthening its position in multinational specialized in e- group that operates a chain of retailer in the US after that is active in e-commerce, online delivery services and commerce, retail, and internet. supermarkets, discount Walmart and has a large cloud computing, and has launched the first drone Two years ago, it acquired department stores, and network for home deliveries. streaming. It recently received delivery service in Australia. Ele.me and is now competing grocery stores. It also offers the go-ahead to acquire the with Meituan Dianping, the home deliveries of fresh British online delivery service largest food delivery provider in products. Deliveroo. Asia. Meituan Dianping Class B Uber Technologies, Inc. Kroger Co. Yum! Brands, Inc. Chipotle Mexican Grill, Inc. China US US US US Beijing-based Meituan is Uber is a US group that Kroger is a US retailer, and Yum! Brands is the parent The restaurant chain Chipotle Asia’s leading provider in the brokers driving services and since the end of 2019 it has company of the restaurant operates restaurants in the US, food delivery sector. For a few offers online delivery services been offering home deliveries chains KFC, Pizza Hut, and Canada, Germany, France, and months now, it has been via Uber Eats. In mid-May, of fresh meals in the four Taco Bell. Yum! Brands works the United Kingdom. Chipotle facing competition from Uber submitted a takeover bid cities of Indianapolis, Carmel, with Grubhub, the leading works together with Uber Eats to Ele.me, a subsidiary of to Grubhub, a US order Columbus, and Denver. ordering service company. provide the delivery service. Alibaba. service company. * As of May 2020; current index composition can be obtained free of charge from Solactive AG, the index calculation agent. 9 Public Index composition* Solactive Food Delivery Index (NTR) May 2020 Yum China Holdings Delivery Hero SE Just Eat Takeaway.com Domino’s Pizza, Inc. Yandex NV Class A China Germany Netherlands US Russia This spin-off from Yum! Based in Berlin, Delivery Hero Just Eat in the UK and Domino’s Pizza operates a Yandex is a technology Brands is one of the largest is a global online food Takeaway.com in the pizza restaurant chain that is company that develops restaurant operators in China ordering service that is active Netherlands merged in a GBP present all over the world. The products and services based and holds the licensing rights in over 40 countries. Its 6.2 billion transaction. The company has been recording on machine learning. Yandex for KFC, Pizza Hut, and Taco partner network comprises merged entity intends to growth rates for years now is mainly active in the Russian Bell in China. It acquired the more than 500,000 increase its market share by and is weathering the corona market. online delivery service Daojia restaurants worldwide. further acquisitions. crisis well thanks to additional three years ago. demand for pizza deliveries during the lockdown. HelloFresh SE Grubhub, Inc. BJ’s Wholesale Club Hold. Wingstop, Inc. Papa John’s International Germany US US US US Hello Fresh is a Frankfurt- Uber Technologies has been BJ’s Wholesale Club Holdings, Wingstop is a restaurant chain Papa John’s International is a based company that delivers in takeover negotiations with commonly referred to as BJ’s, is that specializes in poultry Kentucky-based pizza chain fresh cooking boxes to the US ordering service an American warehouse chain dishes.