Sales not increasing. Trying to sell GrubHub which is losing money.
Market cap EUR 2,6b
Debt EUR 4b
Cash flow neutral in 2024? Profit or cash flow in 2025?
Say 15 multiple: EUR 2 600 million market cap / 15 = "profit needed to justify price" => EUR 173 million
Possible, but not easy.
Too difficult pile.
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