HelloFresh: expects FY 2019 financial results above guidance

Berlin / DE. (hf) Based on preliminary and unaudited figures, consolidated revenue of HelloFresh SE (HFG) for the fiscal year 2019 is expected to amount to between EUR 1,808 million and EUR 1,811 million. This corresponds to revenue growth of approximately 36 percent on a constant currency basis, exceeding the Company’s previously published guidance of 31 percent to 33 percent due to better than expected performance in the fourth quarter 2019.

The segment USA is expected to contribute EUR 1,024 million to EUR 1,026 million and the segment International is expected to contribute EUR 784 million to EUR 785 million to consolidated revenue for the fiscal year 2019.

Based on preliminary and unaudited figures, the Company expects to achieve on the group level a contribution margin between 28.5 percent and 28.7 percent in the fiscal year 2019, which is in line with its previously published guidance of 28 percent to 29 percent.

Based on preliminary and unaudited figures, the group’s Aebitda for the fiscal year 2019 is expected to amount to between positive EUR 45 million and positive EUR 48 million (which represents a positive Aebitda margin (Aebitda as a percentage of revenue) of 2.5 percent to 2.7 percent), exceeding its previously published guidance of 0.50 percent to 1.75 percent due to better than expected performance in the fourth quarter 2019. The segment USA is expected to contribute between positive EUR 9 million and positive EUR 10 million to Aebitda and the International segment is expected to contribute between positive EUR 81 million and positive EUR 84 million to Aebitda; the remainder relates to the Holding Aebitda. Aebitda excludes inter alia expenses incurred due to an increase in certain legal provisions in an amount of approximately EUR 10 million.

Due to the publication of this release, the Company will not publish (other than originally planned) a trading update for the fiscal year 2019 on 21 January 2020. The Company will publish its full annual report for the fiscal year 2019 as scheduled on 3 March 2020. The final numbers for the fiscal year 2019 may deviate from the ranges presented in this release.

Regarding the definitions of the alternative performance measures Aebitda and contribution margin, the Company refers to the corresponding definitions in its Annual Report 2018, which is published on the Company’s website.