27.10.2022 HelloFresh SE  DE000A161408

EQS-News: HelloFresh SE continues on growth trajectory in strong third quarter


 

EQS-News: HelloFresh SE / Key word(s): Quarter Results
HelloFresh SE continues on growth trajectory in strong third quarter

27.10.2022 / 06:45 CET/CEST
The issuer is solely responsible for the content of this announcement.


 

HelloFresh SE continues on growth trajectory in strong third quarter

 

  • Continued strong y-o-y revenue growth of 31.4% to approx. €1.86bn (Q3 2021: €1.42bn, 17.9% growth on a constant currency basis)
  • Active customer growth of 8.2% y-o-y to 7.5m (Q3 2021: 6.9m)
  • Strong contribution margin performance, with a y-o-y expansion of 2pp to 24.5%, despite inflationary headwinds
  • Solid profitability level: Adjusted EBITDA reaches €71.8m (Q3 2021: €79.8m), in a seasonally lower margin quarter
  • Better relative affordability and increased meal selection play an important role in making HelloFresh’s customer proposition even more attractive

 

Berlin, 27 October 2022 – Today, HelloFresh SE (“HelloFresh”) published its quarterly statement for the third quarter of 2022. The HelloFresh group reported ongoing y-o-y revenue growth of 31.4%, reaching approx. €1.86 billion (17.9% y-o-y growth on a constant currency basis). The HelloFresh group also experienced y-o-y active customer growth of 8.2%, reaching a total of 7.5 million active customers in the third quarter of 2022. In addition, the average order value on group level increased y-o-y by 11.5% on a constant currency basis and the contribution margin on group level increased meaningfully y-o-y to 24.5%, despite a difficult operating environment with inflationary headwinds. As a result, HelloFresh group’s profitability level remains solid with an adjusted EBITDA of €71.8 million, and a margin of 3.9%, despite the third quarter typically still being impacted by summer seasonality.

“Over the past years we have succeeded in building a very resilient business model. While the cost for food is impacted by the inflation worldwide, HelloFresh has been able to remain very affordable. In fact, HelloFresh has been able to further improve its relative affordability, mitigate inflation effects and has avoided passing on every price increase it receives in full to its consumers, while keeping the procurement margin stable”, says Dominik Richter, CEO and co-founder of HelloFresh. “

He continues: “While we are able to deliver reliable prices for a specific amount of meals, supermarket bills can vary considerably from week to week. In times when consumers are thinking more broadly about how to save money on food and deciding to eat out less, home-cooked meals with HelloFresh are not only more convenient, but also less expensive than ordering take-out or eating at a restaurant.”

 

 

 

 

Strong improvements to customer proposition

HelloFresh continues to focus on making its weekly menu as exciting and varied as possible. Meal selection is on track to grow on group level by c. 30% year-on-year until the end of the year, HelloFresh Market has been rolled out to two additional geographies and new culinary concepts have been introduced to the majority of the 18 markets HelloFresh currently serves. Product innovation will remain a large focus for 2023 as well, as HelloFresh is no longer confronted with capacity constraints, following strong progress on the successful build out of its network infrastructure.

Higher productivity across its fulfillment sites, especially the ones launched during the last few quarters have led to an increase of contribution margin despite inflationary pressures.

 

 

Key Performance Indicators

Group

  Q3 2022 Q3 2021 Y-o-Y
Active customers (m) 7.51 6.94 8.2%
Number of orders (m) 29.03 27.59 5.2%
Meals delivered (m) 243.3 227.3 7.0%

 

U.S.

  Q3 2022 Q3 2021 Y-o-Y
Active customers (m) 3.67 3.48 5.5%
Number of orders (m) 15.06 14.12 6.7%
Meals delivered (m) 118.2 108.1 9.4%

 

International

  Q3 2022 Q3 2021 Y-o-Y
Active customers (m) 3.84 3.46 11.0%
Number of orders (m) 13.97 13.47 3.7%
Meals delivered (m) 125.0 119.2 4.9%

Results of Operations

Group

  Q3 2022 Q3 2021 Y-o-Y
Revenue (mEUR) 1,860.2 1,415.5 31.4%
Revenue constant currency 1,669.0 1,415.5 17.9%
Contribution margin (mEUR)* 454.9 318.0 43.1%
Contribution margin (in % of revenue) 24.5% 22.5% 2.0 pp
AEBITDA (mEUR) 71.8 79.8 (10.0)%
AEBITDA (in % of revenue) 3.9% 5.6% (1.7) pp

 

U.S.

  Q3 2022 Q3 2021 Y-o-Y
Revenue (mEUR) 1,146.5 789.3 45.3%
Revenue constant currency 979.3 789.3 24.1%
Contribution margin (mEUR)* 292.9 178.9 63.7%
Contribution margin (in % of Revenue) 25.4% 22.6% 2.8 pp
AEBITDA (mEUR) 75.7 48.7 55.4%
AEBITDA (in % of revenue) 6.6% 6.2% 0.4 pp

 

International

  Q3 2022 Q3 2021 Y-o-Y
Revenue (mEUR) 713.7 626.1 14.0%
Revenue constant currency 689.7 626.1 10.2%
Contribution margin (mEUR)* 173.3 144.0 20.3%
Contribution margin (in % of revenue) 24.0% 22.9% 1.1 pp
AEBITDA (mEUR) 31.7 52.3 (39.4)%
AEBITDA (in % of revenue) 4.4% 8.3% (3.9) pp

*excluding share-based compensation expenses

 

About HelloFresh

HelloFresh SE is a global food solutions group and the world's leading meal kit company. The HelloFresh Group consists of six brands that provide customers with high quality food and recipes for different meal occasions. The company was founded in Berlin in November 2011 and operates in the USA, the UK, Germany, the Netherlands, Belgium, Luxembourg, Australia, Austria, Switzerland, Canada, New Zealand, Sweden, France, Denmark, Norway, Italy, Japan and Ireland. In Q3 2022 HelloFresh delivered 243 million meals and reached 7.5 million active customers. HelloFresh SE went public on the Frankfurt Stock Exchange in November 2017 and its shares are currently being traded on the MDAX. HelloFresh has offices in New York, Berlin, London, Amsterdam, Sydney, Toronto, Auckland, Paris, Copenhagen, Milan, Tokyo and Dublin.

 

 

Press contact  
   
Saskia Leisewitz
Head of Global Corporate Communications
HelloFresh Group
+49 (0) 174 72 35 961
[email protected]
www.hellofreshgroup.com

 

 



27.10.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: HelloFresh SE
Prinzenstraße 89
10969 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: 1473065

 
End of News EQS News Service

1473065  27.10.2022 CET/CEST

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Die wichtigsten Finanzdaten auf einen Blick
  2017 2018 2019 2020 2021 2022 2023e
Umsatzerlöse1 904,90 1.279,20 1.809,00 3.749,90 5.993,40 7.607,20 7.830,00
EBITDA1,2 -87,70 -73,30 15,70 472,90 488,60 383,20 385,00
EBITDA-Marge3 -9,69 -5,73 0,87 12,61 8,15 5,04
EBIT1,4 -88,80 -82,80 -25,80 425,90 391,80 217,20 220,00
EBIT-Marge5 -9,81 -6,47 -1,43 11,36 6,54 2,86 2,81
Jahresüberschuss1 -92,00 -82,80 -10,10 369,10 256,30 125,10 127,00
Netto-Marge6 -10,17 -6,47 -0,56 9,84 4,28 1,64 1,62
Cashflow1,7 -45,50 -50,20 42,20 601,50 458,60 313,40 0,00
Ergebnis je Aktie8 -0,67 -0,51 -0,06 2,09 1,41 0,63 0,70
Dividende8 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2022 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: KPMG

INVESTOR-INFORMATIONEN
©boersengefluester.de
HelloFresh
WKN Kurs in € Einschätzung Börsenwert in Mio. €
A16140 12,605 Halten 2.183,07
KGV 2025e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
10,42 28,92 0,36 57,04
KBV KCV KUV EV/EBITDA
2,07 6,97 0,29 4,91
Dividende '22 in € Dividende '23e in € Div.-Rendite '23e
in %
Hauptversammlung
0,00 0,00 0,00 02.05.2024
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
25.04.2024 13.08.2024 26.10.2023 15.03.2024
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
-6,09% -39,06% -11,91% -39,17%
    
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