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HelloFresh raises sales outlook on customers, orders

FRANKFURT: Meal-kit delivery firm HelloFresh on Monday raised its outlook for sales growth in 2021, citing a rising number of customers as well as high order rates.

The group said it now expects sales to rise by 57 per cent to 62 per cent this year on a constant currency basis, from 45 per cent to 55 per cent previously, adding that it would keep unchanged its adjusted core profit margin target of 8.25 per cent to 10.25 per cent.

"In Q3 2021 we have continued to invest heavily into our product and service levels, significantly improving the value proposition for our customers," Chief Executive Dominik Richter said.

"With all of these investments in place, we remain focused on reaching our mid-term revenue target of 10 billion euros and on paving the way to becoming the world's leading food solutions group."

At constant currencies, third-quarter sales rose 45 per cent to €1.41 billion (US$1.64 billion) while adjusted earnings before interest, tax, depreciation and amortisation fell 30 per cent to 79.8 million, resulting the margin to more than halve to 5.6 per cent.

Frankfurt-listed shares in the company, whose orders grew 41.6 per cent to 27.59 million in the third quarter, were up 2.2 per cent following the news.

Source: Reuters

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