Subscribe Login

HelloFresh Shares At Record High On Virus Sales Boost

By Dayeeta Das
Share this article
HelloFresh Shares At Record High On Virus Sales Boost

Shares in meal-kit delivery firm HelloFresh jumped to a record high on Tuesday after it said it expected strong first-quarter sales and profit due to a surge in demand as coronavirus lockdowns prompt more people to cook at home.

HelloFresh shares were up 14.2% at 07:25 GMT, making them the biggest gainer on the German mid-cap index.

The company, which delivers pre-portioned meal ingredients with recipes to subscribers, has grown rapidly in the United States, outperforming rival Blue Apron, which has also reported a sharp increase in demand due to the coronavirus.


Berlin-based HelloFresh, which makes more than half of its sales in the United States, said late on Monday it expects quarterly revenue of between €685 million and €710 million ($755-783 million), while adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) should come in at €55 - €75 million.

Deutsche Bank said that implied revenue growth of up to 69% year-on-year for the quarter, which it said would be the strongest rise for HelloFresh in more than three years.


HelloFresh said uncertainties created by the pandemic meant it was not amending the guidance it gave earlier in the month for 2020 revenue growth of 22% to 27% on a constant currency basis and an adjusted margin of 4-5.5%.

News by ReutersClick subscribe to sign up to ESM: European Supermarket Magazine.

Get the week's top grocery retail news

The most important stories from European grocery retail direct to your inbox every Thursday

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our terms & conditions and privacy policy. You can unsubscribe at any time.