The lockdown measures against the coronavirus proved to be a blessing for meal supplier HelloFresh: in the second quarter just as in the first, demand for meal boxes increased sharply.
Maximum production capacity
Quarterly sales will be somewhere between 965?million and 975?million euros, the German company reports in a press release. This is much better than expected: in both its divisions (United States and "all the rest"), annual growth more than doubled. Profits will also increase significantly: its adjusted EBITDA is expected to be 145?to 155?million euros. These are, however, only provisional figures: the complete financial results will follow on 11?August.
The company now serves some 4.2?million active customers, of which 2?million in the US and 2.2?million in the international segment. Due to a combination of more and larger orders from consumers and strict social distancing measures in the production units, HelloFresh now operates close to its maximum production capacity, especially in the US.
Given the strong performance in the first half of the year and the continuing strong trend at the beginning of the third quarter, the company is again raising expectations for the full year: sales growth is expected to be 55?% to as much as 75?% and the AEBITDA margin will be between 8?% and 10?%.