Mealbox delivery service HelloFresh has increased its 2018 forecast: the German company now expects a 35 % growth, up from its previous 30 % increase forecast. Positive results in the United States, which has become the company’s main market, were the main reason for its adjustment.
Smaller drop, huge turnover increase
HelloFresh’ mealboxes performed well in the first quarter: turnover grew 44 % to 295.6 million euro, a growth that would have been + 60 % if it weren’t for the exchange rates. The operational gross profit (EBITDA) is still red, but improved from -14.4 % to -7.3 %. Operational losses dropped nearly 15 % to 28 million euro.
HelloFresh maintains its forecast to become break-even in the fourth quarter. Over the past quarter, the mealbox delivery group serviced 1.9 million customers, up 61 % to that same time frame last year. It shipped 6.6 million boxes in that period.