HelloFresh on track for break-even

HelloFresh on track for break-even

Meal kit delivery company HelloFresh is continuing its strong growth. In the third quarter, sales once again rose sharply and the company claims that it is on track to be break-even for the full year.

 

Strong growth

In the last quarter, revenue grew by 45.8 % to 440.6 million euros (42.2 % growth in constant currency) compared to the same period last year. The number of active customers rose to 2.61 million (+ 42.1 %), with the number of orders rising to 9.11 million (+ 43.7 %). A total of just under 70 million meals were delivered (+ 48.1 %).

 

Adjusted gross operating profit (AEBITDA) in the third quarter climbed to 15.5 million euros, while in the same period last year there was still a negative result of 26 million euros. Profitability improved across all geographical areas, with HelloFresh achieving a positive AEBITDA margin of 2.6 % in the United States, and 10.7% in other countries. For the second consecutive quarter, the meal kit delivery company will make a profit at group level.

 

On 14 October, HelloFresh has already increased expectations for the full year. The company is now expecting revenue growth of approximately 31 % - 33 % on a constant currency basis and an AEBITDA margin of between 0.5 and 1.75 %.