HelloFresh SE

HelloFresh SE updates outlook for the full year 2021 based on strong year-to-date growth

DGAP-Ad-hoc: HelloFresh SE / Key word(s): Change in Forecast
HelloFresh SE updates outlook for the full year 2021 based on strong year-to-date growth

05-Aug-2021 / 18:48 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


 

Public disclosure of inside information according to Article 17 para. 1 of the Regulation (EU) No 596/2014 on market abuse (market abuse regulation - MAR)

 

HelloFresh SE updates outlook for the full year 2021 based on strong year-to-date growth

International Securities Identification Number (ISIN): DE000A161408
German Securities Code (WKN): A16140
Ticker Symbol: HFG
LEI: 391200ZAF4V6XD2M9G57
Listed: Regulated Market in Frankfurt am Main (Prime Standard)

Berlin, 5 August 2021 - On a preliminary basis consolidated revenue of HelloFresh SE ("Company") for the second quarter of 2021 is expected to amount to approx. EUR 1,555 million (Q2 2020: EUR 972 million; latest market expectations (arithmetic average of published broker estimates as of 5 August 2021): EUR 1,405 million). The HelloFresh Group's adjusted EBITDA ("AEBITDA") for the second quarter of 2021 is on a preliminary basis expected to amount to approx. EUR 158 million (Q2 2020: EUR 154 million; latest market expectations (arithmetic average of published broker estimates as of 5 August 2021): EUR 155 million).

Based on the Company's strong growth performance year-to-date, driven by strong customer growth and continued high order rates, its management board decided today to increase the Company's full year 2021 revenue growth outlook for the HelloFresh Group on a constant currency basis from previously between 35% and 45% to now between 45% and 55%. Based on current exchange rates, this would translate into a Euro-reported revenue growth of approx. three to four percentage points lower than the revenue growth on a constant currency basis. The arithmetic average of published broker estimates for 2021 Euro-reported revenue growth as of 5 August 2021 amounts to 41%.

Given the stronger than initially anticipated growth in 2021 and to be well prepared for 2022 and beyond, the Company is accelerating the ramp-up of its production capacity and therefore planning higher than initially anticipated fulfilment expenses in 2021, primarily due to initially lower productivity and underutilization in new production sites. In addition, the Company is further accelerating the growth of key functions, especially of its technology and data teams; this continued investment into the Company's infrastructure and platform is an important component to achieve its midterm growth ambition. As a result, the Company now expects a full year 2021 AEBITDA margin for the HelloFresh Group between 8.25% and 10.25% compared to previously between 10% and 12% (arithmetic average of published broker estimates for 2021 AEBITDA margin as of 5 August 2021: 11.1%).

The Company will publish its financial statements for the first six months and the second quarter of 2021 as scheduled on 10 August 2021. The final numbers for the second quarter of 2021 may deviate from the figures presented in this release. All numbers presented in this release are unaudited and preliminary.

Regarding the definition of the alternative performance measure AEBITDA and related information the Company refers to the corresponding definition in its Annual Report 2020, which has been published on the Company's website.

Competent person for this publication

Dr. Christian Ries

Group General Counsel

HelloFresh SE, Saarbrücker Straße 37a, 10405 Berlin
+49 (0) 160 96382504

[email protected]

www.hellofreshgroup.com
 
Press contact

Saskia Leisewitz

Global Lead Corporate Communications

HelloFresh SE, Saarbrücker Straße 37a, 10405 Berlin
+49 (0) 174 72 359 61

[email protected]

www.hellofreshgroup.com
 

 

 

Legal Disclaimer

This document contains forward-looking statements relating to the business, financial performance and results of the Company, the HelloFresh Group or the industry in which the HelloFresh Group operates. These statements may be identified by words such as "will", "expect", "belief", "estimate", "plan", "target" or "forecast" and similar expressions, or by their context. Forward-looking statements include statements regarding: strategies, outlook and growth prospects; future plans and potential for future growth; growth of products and services in new markets; industry trends; and the impact of regulatory initiatives. These statements are made on the basis of current knowledge and assumptions and involve risks and uncertainties. Various factors could cause actual future results, developments or events to differ materially from those described in these statements, and neither the Company nor any other person accepts any responsibility for the accuracy of the opinions expressed in this document or the underlying assumptions. No obligation is assumed to update any forward-looking statements.


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Language: English
Company: HelloFresh SE
Saarbrücker Straße 37a
10405 Berlin
Germany
E-mail: [email protected]
Internet: www.hellofreshgroup.com
ISIN: DE000A161408
WKN: A16140
Indices: MDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1224503

 
End of Announcement DGAP News Service

1224503 05-Aug-2021 CET/CEST

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