Losses keep growing for HelloFresh

Losses keep growing for HelloFresh

In the first half of 2017, meal box delivery service HelloFresh has seen both its turnover and its losses grow significantly. This gives mixed messages in the preparation of its IPO, which is planned this fall to create room for more investments.

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The company’s turnover reached 435 million euro in the first half of 2017, up 49 % compared to the year before. Unfortunately for HelloFresh, profit did not reflect that same growth as the company suffered a 56.7 million euro net loss, worse than the 52.9 million euro loss from last year’s first half.

 

Most of that comes on the back of its expansion into new markets, which required a lot of marketing spending. Marketing costs grew 50 % to 123 million euro, which obviously impacted the company’s profit. The service is currently active in seven European countries, the United States and Canada.