21.03.2018
HelloFresh SE DE000A161408
DGAP-News: HelloFresh SE: FY 2017 Results: HelloFresh with strong momentum towards breakeven
DGAP-News: HelloFresh SE / Key word(s): Final Results/Quarter Results
HelloFresh SE: FY 2017 Results: HelloFresh with strong momentum towards
breakeven
21.03.2018 / 07:10
The issuer is solely responsible for the content of this announcement.
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FY 2017 Results:
HelloFresh with strong momentum towards breakeven
- Strong AEBITDA margin improvement to (2.4)% in Q4 2017
- Realisation of profitability in International Segment for the first time
in Q4 2017 on AEBITDA level, breakeven also within reach for US Segment
- Acceleration of year-on-year revenue growth to 69% in Q4 2017 (in constant
currency)
- Audited FY revenues of EUR 905 million (52% year-on-year growth; FY 2016:
EUR 597 million)
- Positive outlook for 2018: 25-30% revenue growth and breakeven on AEBITDA
level in Q4 2018
Berlin, March 21, 2018 - HelloFresh, the world's leading meal kit company,
has significantly improved its margins while accelerating growth. On group
level, the FY AEBITDA improved to EUR (70) million (FY 2016: EUR (83)
million) with an AEBITDA margin of (7.7)% (FY 2016: (13.8)%). On track to
breakeven, the company managed to continuously expand its margin over the
course of the year resulting in a Q4 2017 AEBITDA margin of (2.4)% (Q4 2016:
(10.3)%). On segment level, the International business reached full AEBITDA
profitability for the first time, while the US business came close to
breakeven.
In parallel, HelloFresh continued its strong growth path in both segments.
In 2017, HelloFresh delivered over 137 million meals (up 51% from FY 2016:
91 million) to its approx. 1.45 million customers (up 69% from Q4 2016: 0.86
million) resulting in FY revenues of EUR 905 million (FY 2016: EUR 597
million), corresponding to a revenue growth of 52% on group level. In
constant currency, the company accelerated the revenue growth rate every
quarter with +43% in Q1 2017, +52% in Q2 2017, +53% in Q3 2017 and +69% in
Q4 2017. On segment level, US Segment grew in 2017 by 90% to a revenue of
EUR 545 million (FY 2016: EUR 287 million) and the International Segment by
16% to EUR 360 million (FY 2016: EUR 310 million).
"2017 marks the most successful year for our business to date. Not only did
we successfully list our company on the stock market but we also
significantly improved all our key metrics, with an outstanding AEBITDA
expansion in both segments leading the way", says Dominik Richter, CEO and
co-founder of HelloFresh SE.
For 2018 the company expects to reach breakeven in its core business in Q4
2018 and to grow its FY revenues by 25-30% with Q1 revenue growth above that
range.
In terms of growth strategy, HelloFresh will primarily focus on increasing
the penetration in its core markets by enlarging its customer base and
expanding the product portfolio. Through the acquisition of the
USDA-certified organic meal kit company "GreenChef" which was signed
yesterday, HelloFresh US will reach out to new and previously untapped
customer segments, including those following organic, vegan and gluten-free
lifestyles, as well as Paleo and Keto compliant plans.
Key Performance Indictors
Group
Q4 2016 Q4 2017 Y-o-Y FY 2016 FY 2017 Y-o-Y
Active customers (m) 0.86 1.45 68.6%
Number of orders (m) 3.2 5.4 67.7% 12.4 19.0 52.9%
Meals delivered (m) 23.9 39.5 65.1% 90.9 137.4 51.3%
USA
Q4 2016 Q4 2017 Y-o-Y FY 2016 FY 2017 Y-o-Y
Active customers (m) 0.43 0.89 105.7%
Number of orders (m) 1.4 3.0 118.6% 5.1 10.6 108.4%
Meals delivered (m) 9.7 20.7 114.4% 35.3 72.2 104.7%
International
Q4 2016 Q4 2017 Y-o-Y FY 2016 FY 2017 Y-o-Y
Active customers (m) 0.43 0.56 31.0%
Number of orders (m) 1.8 2.4 29.3% 7.3 8.3 14.1%
Meals delivered (m) 14.2 18.8 31.7% 55.6 65.2 17.4%
Results of Operations
Group
Q4 2016 Q4 Y-o-- FY 2016 FY Y-o--
2017 Y 2017 Y
Revenue (mEUR) 158.7 252.8 59.3- 597.0 904.9 51.6-
% %
Revenue in constant 158.7 268.5 69.1- 597.0 923.7 54.7-
currency (mEUR) % %
Contribution Margin (in 28.9 65.1 124.- 101.4 207.8 104.-
mEUR)* 8% 9%
Contribution Margin (in 18.2% 25.7% 7.5p- 17.0% 23.0% 6.0p-
% of Revenue) p p
AEBITDA (in mEUR) (16.3) (6.1) 62.6- (82.6) (70.1) 15.2-
% %
AEBITDA (in % of (10.3%) (2.4%) 7.9p- (13.8%) (7.7%) 6.1p-
Revenue) p p
USA
Q4 2016 Q4 Y-o-Y FY 2016 FY Y-o--
2017 2017 Y
Revenue (mEUR) 79.5 150.7 89.5% 286.9 545.2 90.1-
%
Revenue in constant 79.5 164.2 106.5- 286.9 557.8 94.4-
currency (mEUR) % %
Contribution Margin 12.2 40.5 231.1 33.9 125.6 270.-
(in mEUR)* 8%
Contribution Margin 15.4% 26.9% 11.5p- 11.8% 23.0% 11.2-
(in % of Revenue) p pp
AEBITDA (in mEUR)** (7.9) (0.7) 91.1% (48.0) (40.5) 15.6-
%
AEBITDA (in % of (10.0%) (0.5%) 9.5pp (16.7%) (7.4%) 9.3p-
Revenue) p
International
Q4 Q4 Y-o-- FY FY Y-o--
2016 2017 Y 2016 2017 Y
Revenue (mEUR) 79.2 102.0 28.8- 310.1 359.6 16.0-
% %
Revenue in constant 79.2 104.2 31.7- 310.1 365.8 18.0-
currency (mEUR) % %
Contribution Margin (in 17.4 26.6 53.1- 69.3 87.1 25.6-
mEUR)* % %
Contribution Margin (in % 22.0% 26.1% 4.1p- 22.3% 24.2% 1.9p-
of Revenue) p p
AEBITDA (in mEUR)** (5.4) 2.8 151.- (27.5) (9.5) 65.6-
5% %
AEBITDA (in % of Revenue) (6.9%) 2.7% 9.6p- (8.9%) (2.6%) 6.2p-
p p
Group Financial Position
Q4 Q4 Y-o-- FY FY Y-o--
2016 2017 Y 2016 2017 Y
Net working capital (30.8) (62.1) (30.8) (62.1)
Cash and Cash equivalents 57.5 339.9 57.5 339.9
Cash flow used in operating (33.0) (13.1) (76.1) (45.5)
activities
Press contact +49 (0) 160 98 082 688
Eva Switala [email protected]
Global Head of PR [1]www.hellofreshgroup.com
HelloFresh SE
1. http://www.hellofreshgroup.com/
About HelloFresh
HelloFresh is the world's leading meal kit company, operating in the U.S.,
the United Kingdom, Germany, the Netherlands, Belgium, Luxembourg,
Australia, Austria, Switzerland and Canada. HelloFresh delivered 39.5
million meals in the 3-month period from 1 October 2017 to 31 December 2017
to 1.45 million active customers. HelloFresh was founded in November 2011 in
Berlin and went public in November 2017 at the Frankfurt Stock Exchange in
Germany. HelloFresh has offices in New York, Berlin, London, Amsterdam,
Zurich, Sydney and Toronto.
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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
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart, Tradegate Exchange
End of News DGAP News Service
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666543 21.03.2018
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