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OrderYOYO: Spinning orders into profitable growth - ABG

Market-leading white-label software provider for takeaway restaurants
13% ARR CAGR and 11pp EBITDA margin expansion from '23-'27e
Fair value range of DKK 5-11/share


Market-leading white-label software provider to takeaways

Takeaway has historically been dominated by offline ordering, but end-users are increasingly converting to online alternatives. However, local takeaway restaurants (typically 1-7 employees) are often constrained by scarce resources and limited in-house capabilities to operate a digital business, incentivising them to use food portals such as Just Eat and Uber Eats. With its white-label software suite of ordering, payment, marketing and POS solutions, however, OrderYOYO offers a less costly alternative (with commission rates of just 5-9% compared to food portals' 14-35%), while simultaneously enabling restaurants to engage directly with end-users (which is crucial, as ~90% of orders are from recurring customers).
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