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Technology

HelloFresh Launches Share Buyback Programme

Meal-kit firm HelloFresh SE has announced the launch of a share buyback programme of up to €250 million, representing approximately 2.5% of its outstanding capital at current market valuations.

The first tranche of up to €125 million launched on 11 January and is expected to conclude, at the latest, by 31 March 2022.

A potential second tranche is intended to be launched later in 2022, subject to market developments.

The share buy-back program will be funded from existing cash and equivalents.

Commenting on the share buyback programme, HelloFresh CFO, Christian Gärtner, said, "The decision to undertake this share buy-back program reflects our confidence in the long term growth of our business. Our leading growth, best-in-class margins and strong balance sheet allow us to take advantage of the attractive potential represented by current market valuations, underlining our focus on long-term value creation.

"At the same time, we continue to execute on our previously announced investment program into capacity expansion, automation and infrastructure buildout, comprising c. €450 - €550 million in 2022."

HelloFresh Performance

HelloFresh recently reported a 45% increase in revenues in the third quarter of 2021.

The meal kit delivery service saw 27.59 million orders placed via its platform in the quarter, up from 19.49 million in the corresponding period last year, equating to a 41.6% increase. Active customer numbers grew by 38.8% year-on-year.

HelloFresh went public on the Frankfurt Stock Exchange in November 2017 and has been traded on the DAX (German Stock Market Index) since September 2021.

The group has offices in New York, Berlin, London, Amsterdam, Sydney, Toronto, Auckland, Paris, Copenhagen, Milan, and Tokyo.

© 2022 European Supermarket Magazine. Article by Conor Farrelly. For more Technology news, click here. Click subscribe to sign up to ESM: European Supermarket Magazine.

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