評論
打印
Business
商業板塊
German blue chips
德國藍籌股
Ascend and deliver
外賣超人上榜
Delivery Hero could last longer in the DAX 30 than the firm it has replaced
相比被取代的公司，外賣超人會在DAX 30榜單上停留更久
Joining the index of Germany’s 30 biggest listed companies is usually a cause of celebration for the joiner rather than of controversy. Yet the arrival of Delivery Hero in the DAX 30 on August 24th ignited a fierce debate. How, critics grumble, can a food-delivery company that has never made money or paid a dividend, and no longer even does business in Germany, sit alongside Siemens, a 173-year-old engineering behemoth, and Volkswagen, Europe’s biggest carmaker, in the elite group of the bluest of German blue chips?
一家公司若能加入德國30家最大上市公司的指數，那通常是一件值得慶祝，而非引發爭議的事。然而，外賣英雄在8月24日上榜DAX30，這引發了一場激烈的爭論。批評人士對此抱有微詞，一家從未盈利，也從未支付股息，甚至不再在德國開展業務的送餐公司，是如何能夠與擁有173年歷史的工程巨擘西門子以及歐洲最大汽車制造商大眾，一起躋身于德國藍籌股最藍的精英集團之列？
The simple answer is that membership of the DAX is determined mainly by market value and turnover of shares, with no profitability test (unlike America’s S&P 500 index of big firms, which requires four consecutive quarters in the black, among other criteria). And in that respect, Delivery Hero qualifies handily. Niklas Ostberg, its Swedish chief executive, boasts that the firm’s market capitalisation of 18.7bn euros ($22bn) is higher than that of several DAX members. Its share price has tripled over the past couple of years and it has attracted investments from the world’s richest companies, including Alibaba and Amazon, two global internet giants.
答案很簡單，DAX指數的成員資格主要由市值和股票換手率決定，沒有盈利能力測試（不同于美國的標準普爾500大公司指數，該指數要求連續四個季度盈利，還有其他標準）。在這方面，外賣超人就輕易獲得資格了。外賣超人瑞典首席執行官尼克拉斯·奧斯特伯格夸耀公司的市值為187億歐元(合220億美元)，高于DAX的幾家成員公司。該公司的股價在過去幾年里增長了兩倍，并吸引了世界上最富有的公司進行投資，包括阿里巴巴和亞馬遜這兩家全球互聯網巨頭。
