HelloFresh confirms revenue, earnings jump

HelloFresh confirms revenue, earnings jump

HelloFresh SE said Tuesday that revenue and adjusted earnings before interest, taxes, depreciation, and amortization for the first quarter soared as expected in April when it posted preliminary figures.

The German meal-kit maker said first-quarter revenue climbed to 1.44 billion euros ($1.74 billion) from EUR699.1 million in the first quarter of 2020, in line with a preliminary range of roughly EUR1.44 billion and EUR1.45 billion.

Adjusted Ebitda for the period soared to EUR159.2 million from EUR63.1 million, with a corresponding adjusted margin of 11%, and within a preliminary range of roughly EUR155 million and EUR165 million.

“2021 has set off to a strong start. Our teams have been working hard to de-bottleneck the capacity constraints we were experiencing over the majority of 2020, especially in our US market. As a result, we’ve welcomed more customers than ever to HelloFresh”, Chief Executive Dominik Richter said.

The number of active customers jumped to 7.28 million from 4.18 million the previous year.

HelloFresh raised its 2021 revenue guidance in April, and the company continues to expect revenue growth on a constant currency basis between 35% and 45%. Adjusted Ebitda margin should come in between 10% and 12%.

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