HelloFresh earnings, revenue jump amid pandemic

German meal-kit maker HelloFresh SE said Tuesday that revenue and earnings jumped in its third quarter as the number of meals delivered during the period more than doubled on the back of the coronavirus crisis.

Adjusted earnings before interest, taxes, depreciation, and amortization came in at 114.7 million euros ($133.5 million), compared with EUR15.5 million the year prior, it said. Revenue more than doubled to EUR970.2 million.

HelloFresh had previously released preliminary figures for its third quarter including adjusted Ebitda and revenue that were in line with the new figures.

“The trend towards eating more meals at home accelerated during the pandemic and we consider the key drivers for this to have become permanent,” said Dominik Richter, chief executive of HelloFresh.

“Consumers will continue to rely on e-commerce to shop for food in a safe and convenient way and additionally, they will continue to work from home and therefore eat more meals at home,” Mr. Richter added.

Active customers reached a record of five million in the quarter and the number of orders more than doubled year over year to 19.49 million, the company said.

Olivia Bugault

source:marketwatch.com