HelloFresh profits from corona crisis

HelloFresh profits from corona crisis
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HelloFresh has increased its first quarter outlook: the meal box delivery company sees a huge increase in demand, as the corona crisis inspires more people to cook at home.

 

Lockdown creates home cooks

HelloFresh says it saw a considerable increase in demand in January and February, but the corona crisis has given the company an extra boost in May. As restaurants are forced to close in a growing number of countries, ever more people are beginning to cook at home and look to a meal box to make the step easier.

 

For the first quarter of 2020, the German meal box delivery company now counts on a turnover of 685 to 710 million euros, quite a lot higher than current analysts' expectations. In the same period last year, the company reached a turnover of 420.1 million euros. The AEBITDA would climb to 55 to 75 million euros, compared to a negative result of 26.1 million a year before.

 

HelloFresh says it is unable to estimate the consequences of the corona crisis on the global economy in general and on itself in particular, so it refrains from publishing a new full-year outlook. Definitive quarterly results will be published on 5 May.