CompetitionThe acquisition of JustEatTakeaway.com by Prosus raises a more serious competitor for DHER in Spain, Italy, and Poland.
Geographical PerformanceKorea continues to lag in geographical segment performance, impacting the overall growth.
Market Expansion RisksThere are further risks that Meituan expands into other MENA markets and this is expected to constrain DHER’s longer-term margin profile in its most profitable market.