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HelloFresh ended the year very strongly and saw its sales more than double last year. In 2021, the meal-kit delivery company expects a growth of 20 to 25 per cent.
Profit explosion
HelloFresh delivered more than 600 million meals worldwide in 2020, generating a total turnover of 3.75 billion euros. Compared to a year earlier, this is a growth of 111 per cent. The adjusted gross operating profit (AEBITDA) rose to 505.2 million euros, more than a tenfold(!) increase compared to 2019.
The meal package delivery company had an exceptional final quarter with sales of over 1.1 billion euros and an adjusted gross profit of 173.8 million euros. The company attributes this success not only to the growth in order numbers but also to an increase in the average order value. At the end of 2020, HelloFresh had 5.3 million active customers.
Broadening the offer
Meanwhile, the company continues to invest in sustaining growth. In several countries, the company added new products including salads, soups and desserts to its offer, writes Belgian newspaper De Tijd. During the last year, HelloFresh also acquired Factor75, a Chicago-based company that sells ready meals.
For the entire year of 2021, HelloFresh expects sales growth at constant exchange rates of 20 to 25 per cent. “Cooking and eating at home has taken on a whole new meaning,” says CEO Dominik Richter. “As the pandemic hopefully subsides throughout 2021, we expect that consumers will continue to rely on online providers like us. As many have experienced the added value of our offerings in terms of price, variety and convenience, we expect consumers to continue to order their groceries for their evening meals from us.”
