HelloFresh SE expects significantly higher adjusted EBITDA for Q3 2024 than market expectations

HelloFresh SE lowers its revenue growth forecast for FY 2024 and raises the lower end of its AEBITDA forecast

Berlin, 21 February 2023 – HelloFresh SE (“HelloFresh” or the “Company”), the world’s leading meal-kit company, today provides an update on its financial performance for the third quarter of 2024.

Significant outperformance in Q3 2024

HelloFresh expects to significantly exceed market expectations for Q3 2024. Adjusted EBITDA is anticipated to be substantially higher than the consensus market estimate, reflecting continued strong demand for meal kits and disciplined cost management.

Revenue growth forecast for FY 2024 lowered

The Company now forecasts revenue growth for FY 2024 to be in the mid-teen percentage range, compared to the previous guidance of around 20%. This adjustment is primarily driven by a more conservative outlook on consumer spending in key markets and the impact of foreign exchange headwinds.

AEBITDA forecast for FY 2024 raised at the lower end

HelloFresh raises the lower end of its AEBITDA forecast for FY 2024 to around EUR 600 million, up from EUR 580 million previously. This reflects the Company’s ongoing focus on cost discipline and efficiency improvements, partially offset by the impact of foreign exchange headwinds and the revised revenue growth outlook.

Outlook

HelloFresh remains confident in the long-term growth prospects of the meal-kit market. The Company is well-positioned to continue to drive growth and profitability through its best-in-class customer experience, innovative product offerings, and disciplined cost management.

Disclaimer

This release contains forward-looking statements. These statements are based on the current views, expectations, assumptions and information of the management of HelloFresh SE. Forward-looking statements should not be construed as a promise of future results and developments. Actual future results and developments may materially differ from the forward-looking statements. HelloFresh SE does not assume any obligation to update these forward-looking statements or to confirm them to future events or developments.