A crisis always has winners and losers and it is clear that HelloFresh is in the winning camp. Helped by the corona pandemic, the mealbox supplier continues its dizzying growth trajectory undisturbed.
Five million customers
HelloFresh recorded a turnover of 970.2 million euro in the third quarter, an increase of no less than 120% compared to the same period last year. The number of orders also more than doubled (+114%) to almost 19.5 million, while the number of active customers exceeded 5 million for the first time (+91.5%).
The strong growth of the company came both in the United States and internationally. Turnover in both business segments more than doubled compared to the same period last year. The group's adjusted gross operating profit (AEBITDA) rose from 15.5 million euro to 114.7 million euro.
“The trend towards eating more meals at home accelerated during the pandemic and we consider the key drivers for this to have become permanent,” says CEO Dominik Richter. “Consumers will continue to rely on e-commerce to shop for food in a safe and convenient way and additionally, they will continue to work from home and therefore eat more meals at home. We see this trend reflected in our continued strong customer growth and consistently higher customer engagement across all markets.”
HelloFresh expects the strong growth to continue into the rest of the year. In October, the mealbox supplier increased its forecast for the fourth time this year. The company now expects sales growth of 95 to 105% for the whole of 2020.