HelloFresh still in the red despite record growth

Turnover for mealbox manufacturer HelloFresh went beyond expectations in 2018. Margins improved as well, but still the company is loss-making.

 

High growth rate

HelloFresh has announced in a press release that their turnover for the final quarter of last year was between 358 and 362 million euros, according to preliminary, unchecked figures. Last year's profits were between 1.275 and 1.279 billion euros, an increase of 41% compared to 2017. A pleasant surprise, as the company had envisioned its growth more along the lines of 32 to 37%.
 

"We're looking back at both a very successful fourth quarter and a successful year overall for 2018, with a high growth rate and considerable improvements to our profitability," said co-founder and chief executive Dominik Richter. He maintains that the international division (outside of the US) has now become profitable.
 

On the group level, HelloFresh is still operating at a loss. Last year, that loss was between 54 and 58 million euros, which was an improvement compared to the 71 million euro loss in 2017. Over the course of 2018, the company has delivered almost 200 million mealboxes to over 2 million active customers, an increase of 44%. The number of active customers went up by 41 percent by the end of the year. Definitive numbers will follow on March 6th.