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00:00How sustainable is that when people start to leave their homes more and get to eat out to other places. Hi there and thanks for having me. Well yeah. We had a fantastic quarter but also had a fantastic nine consecutive quarters with a hundred percent growth. So it's not the first quarter with good results. It's it's a continuous progress and a lot of work behind it. And I think that will stay and of course throws up tailwind when we look at corporate environment especially in European segment where we can probably expect that growth will come down. But I think overall as a group I think you stand very strong with Asia as our largest segment. Good morning Nicholas. It's an incredible growth story in terms of the revenue side but obviously the profit sector is going to become more and more poor at some point. And I guess at what point do you change from the focus of market share to a profit focus. Are you at that stage yet or not yet. Well we don't see so much as a focus on one or another extremist focus on efficiencies but they're also very focused on investing. Add to our customers making our service better continue to evolve into quick commerce and other new verticals that we're pushing very hard. So for us it's more about driving gross profit per quarter to drive that efficiency. And as long as we have that trust profitability order we know that it's just about scale and size that takes its profitability. And then the moment columnists there would be a moment when our size is so large that we will drive a profit does this business. But we don't have a general shift in mindset. They're extremely cost focused already. Today. If you say it's about scale and efficiency do you have expansion plans. And if so into which markets are businesses. So we launched our quick commerce which is delivery of anything from groceries to e-commerce items in in very fast manner. For us it goes as fast as 10 minutes for local warehouses. But we also have 85000 local stores of help building business and giving them the tools and delivery systems and online presence to compete with larger e-commerce companies. So that is some big investment area to help those small merchants and other big areas. Of course some market launches we had Japan where we invest quite aggressively to build a strong business there. So we continued to be in more of a growth mode. New areas opportunities. As people do in some parts of the world start to get back to life that looks a little bit more like normal NIKKEI and of course that is certainly not everywhere. Some places still fighting the fight against Cove it. But how are you going to keep up momentum in the business when that happens. Are you going to have to suffer some some pricing some lack of pricing power. Well I hope we go back to normal very very soon. It's been a very long time and I think for us some reasons have been possibly impacted. And I think it did also change a behavior a shift among consumers. I have realized the value of delivery that you don't have to cook every meal yourself. You don't have to pick up groceries yourself all the time. But you can actually outsource some of that activity from time to time. So I think even if you go back to the normal non Kogan environment I do think that that behavior is still going to be there. The appreciation for our services there and have fantastic feedback in terms of MVS course and customer happiness. So I do expect that most people will still stay the may order slightly less if there were no work later and maybe there would be smaller baskets that might work for one person in office rather for a full family at home. But I think most of our business is standing strong and we keep focusing on on delivering a good experience. And as long as we do I'm not too worried. It's interesting you say that a lot of this behavior you think is entrenched will probably remain as we reopen. I'm curious that given that we're starting to see some cities reopen thankfully are you starting to see any kind of impact at the margin and that changed behavior from those reopening or is there no sign of it yet. In terms of your business. Yeah. No we haven't seen much see time of it. You've seen indications when there have been strict lockdown. So we have a big peek over a few weeks where people order significantly more. But doesn't it usually go back to normal. And we've seen that over and over again. Right now the recent peak in Europe of behavior that would probably go back to normal soon. But I think in most of our markets we are already back to normal. If you look at Asia is back to normal for a long time and that is more than 50 percent of our business. So I do not expect too much of a drop down for us at least to never doubt the impact of Bitcoin in the first place.

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Delivery Hero CEO on Strong 1Q

Delivery Hero continues to grow, CEO Niklas Ostberg discusses the latest earnings, plans for expansion, and his outlook for businesses re-opening as more people get vaccinated. He speaks with Anna Edwards and Mark Cudmore on "Bloomberg Markets: Euro Open." (Source: Bloomberg)