13.08.2018
HelloFresh SE DE000A161408
DGAP-News: HelloFresh SE: Q2 2018: HelloFresh approaches break-even and invests in further expanding its global leadership position
DGAP-News: HelloFresh SE / Key word(s): Quarterly / Interim Statement/Half
Year Results
HelloFresh SE: Q2 2018: HelloFresh approaches break-even and invests in
further expanding its global leadership position
13.08.2018 / 07:16
The issuer is solely responsible for the content of this announcement.
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Q2 2018: HelloFresh approaches break-even and invests in further expanding
its global leadership position
- Revenues increased by 39% to EUR319.7 million year over year (up by 48% on
constant currency from Q2 2017: EUR230.1 million)
- Contribution margin improved to 28%, exceeding expectations
- AEBITDA margin (ex. Green Chef) strongly expanded towards break-even
- Comprehensive investments announced for the second half of 2018 to support
further growth
- Full-year 2018 outlook for constant-currency revenue growth raised from
30% - 35% to 32% - 37% due to planned investments in sustainable growth
Berlin, August 13, 2018 - HelloFresh, the leading global provider of meal
kits, built on its good start into 2018 with a strong second quarter,
further bolstering its position as global market leader.
The strong performance is reflected across all financial indicators.
HelloFresh grew its revenues by 39% year over year to EUR319.7 million (up
by 48% on constant currency from Q2 2017: EUR230.1 million) and generated an
outstanding contribution margin of about 28% (Q2 2017: 22.1%). Thanks to
this strong performance, HelloFresh has reached an AEBITDA margin of (0.0)%
on the group level in Q2 2018 excluding Green Chef and (1.2)% including
Green Chef. This development is also reflected in the two segments - US and
International - both of which reached AEBITDA profitability in Q2 2018. The
US segment achieved an AEBITDA margin of 2.0% (ex. Green Chef). The AEBITDA
margin of the International segment was even higher at 4.1%.
New products, new target groups, new geographies
Building on its excellent market position, HelloFresh intends to capitalize
on this momentum and support further growth with targeted investments over
the second half of 2018 - in the meal kit segment and beyond. Particularly
in the US, the world market leader is increasingly investing in further
differentiating its product offering and pricing structure to reach out to
even more customer groups with varying demand patterns. The recent launch of
the EveryPlate brand already enables the company to gain a strong foothold
in the value segment whereas the integration of Green Chef secures a
successful position in the premium segment. At the same time, HelloFresh is
exploring promising cooperations with new retail partners worldwide.
"The strong first half of this year has proven that we can exceed our own
expectations. Our strong margins provide the necessary tailwind for
systematically capitalizing on additional opportunities in the market. In
view of the growing demand in the meal kit market and beyond, we want to
establish ourselves as the best provider across all customer and price
segments," said Dominik Richter, CEO and co-founder of HelloFresh SE.
Selected key performance indicators
Group
Q2 Q2 Y-o-- H1 H1 Y-o--
2018 2017 Y 2018 2017 Y
Active customers (in 1.84 1.25 47.4- - - -
millions) %
Number of orders (in 6.70 4.67 43.6- 13.31 8.87 50.1-
millions) % %
Meals delivered (in 48.9 33.7 44.9- 97.2 64.3 51.1-
millions) % %
U.S.
Q2 Q2 Y-o-- H1 H1 Y-o--
2018 2017 Y 2018 2017 Y
Active customers (in 1.12 0.80 41.1- - - -
millions) %
Number of orders (in 3.79 2.70 40.3- 7.69 4.95 55.4-
millions) % %
Meals delivered (in 25.0 18.3 36.7- 51.5 33.7 53.0-
millions) % %
International
Q2 Q2 Y-o-- H1 H1 Y-o--
2018 2017 Y 2018 2017 Y
Active customers (in 0.72 0.46 58.3- - - -
millions) %
Number of orders (in 2.91 1.98 47.3- 5.62 3.94 42.8-
millions) % %
Meals delivered (in 23.8 15.4 54.6- 45.7 30.6 49.1-
millions) % %
Key operating indicators
Group
Q2 Q2 Y-o-- H1 H1 2017 Y-o--
2018 2017 Y 2018 Y
Revenue in EUR million 319.7 230.1 38.9- 615.2 435.4 41.3-
% %
Constant currency revenue 339.9 230.1 47.7- 668.0 435.4 53.4-
in EUR million % %
Contribution margin in EUR 89.2 50.8 75.5- 166.2 92.4 79.8-
million % %
Contribution margin as a % 27.9% 22.1% 5.8 27.0% 21.2% 5.8
of revenue pp pp
Adjusted EBITDA in EUR (3.9) (16.9) 76.7- (25.6) (46.5) 44.9-
million % %
Adjusted EBITDA as a % of (1.2)% (7.4)% 6.1 (4.2)% (10.7)% 6.5
revenue pp pp
U.S.
Q2 Q2 Y-o-- H1 H1 2017 Y-o--
2018 2017 Y 2018 Y
Revenue in EUR million 188.9 143.3 31.8- 368.3 263.4 39.8-
% %
Constant currency revenue 205.3 143.3 43.3- 412.5 263.4 56.6-
in EUR million % %
Contribution margin in EUR 54.2 31.4 72.7- 102.3 53.7 90.4-
million % %
Contribution margin as a % 28.7% 21.9% 6.8 27.8% 20.4% 7.4
of revenue pp pp
Adjusted EBITDA in EUR (0.3) (8.5) 96.2- (14.0) (31.3) 55.3-
million % %
Adjusted EBITDA as a % of (0.2)% (5.9)% 5.7 (3.8)% (11.9)% 8.1
revenue pp pp
International
Q2 Q2 Y-o-- H1 H1 Y-o--
2018 2017 Y 2018 2017 Y
Revenue in EUR million 130.8 86.8 50.5- 246.9 172.0 43.5-
% %
Constant currency revenue in 134.6 86.8 54.9- 255.6 172.0 48.5-
EUR million % %
Contribution margin in EUR 35.5 20.6 72.5- 65.0 40.9 58.9-
million % %
Contribution margin as a % of 27.1% 23.7% 3.4 26.3% 23.8% 2.5
revenue pp pp
Adjusted EBITDA in EUR 5.4 (4.2) 227.- 4.3 (8.1) 153.-
million 8% 0%
Adjusted EBITDA as a % of 4.1% (4.9)% 9.0 1.8% (4.7)% 6.5
revenue pp pp
Press contact +49 (0) 160 98 082 688
Eva Switala [email protected]
Global Head of PR www.hellofreshgroup.com
HelloFresh SE
About HelloFresh
HelloFresh is the world's leading meal kit company and operates in the U.S.,
the United Kingdom, Germany, the Netherlands, Belgium, Luxembourg,
Australia, Austria, Switzerland and Canada. HelloFresh delivered 48.9
million meals to 1.84 million active customers worldwide in the three-month
period between April 1, 2018 and June 30, 2018. HelloFresh was founded in
Berlin in November 2011 and went public on the Frankfurt Stock Exchange in
November 2017. HelloFresh has offices in New York, Berlin, London,
Amsterdam, Zurich, Sidney and Toronto.
Legal Disclaimer
This document contains forward-looking statements relating to the business,
financial performance and results of HelloFresh SE (the "Company"), the
HelloFresh group or the industry in which the HelloFresh group operates.
These statements may be identified by words such as "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 for 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,
performance 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. Regarding the definitions of Alternative
Performance Measures, the Company refers to the relevant definitions in its
Annual Report 2017, which is published on the Company's website.
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13.08.2018 Dissemination of a Corporate News, transmitted by DGAP - 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
Saarbrücker Straße 37a
10405 Berlin
Germany
E-mail: [email protected]
Internet: www.hellofreshgroup.com
ISIN: DE000A161408
WKN: A16140
Indices: SDAX
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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