EQS-News

Marley Spoon Group SE reports Q1 2024 Results

EQS-News: Marley Spoon Group SE / Key word(s): Quarter Results Marley Spoon Group SE reports Q1 2024 Results 30.04.2024 / 11:34 CET/CEST The issuer is solely responsible for the content of this announcement. MARLEY SPOON GROUP REPORTS POSITIVE OPERATING EBITDA IN Q1 2024 WITH €81M IN NET REVENUE

(“Marley Spoon” or the “Company”), a leading global subscription - based meal kit provider, reported its results for the quarter ending 31 March 2024 (“Q1 2024”).

Highlights:

• Q1 2024 net revenue of €80.7m, up nearly 10% quarter - over - quarter;
•  Strong margin expansion with Contribution Margin in Q1 2024 of 34.4%, up 335 bps vs. the previous corresponding period;
• Q1 2024 Operating EBITDA of €0.2m, an improvement of €6.6m vs. the prior year;
• Operating Cash Flow of €2.9m in Q1 2024 and quarter - end cash balance of €26.6m;
• Smooth transition to asset - light model in the US.

Marley Spoon’s CEO Fabian Siegel, commented: “ After a challenging 2023, 2024 started with a stabilization of our customer base, resulting in quarter - over - quarter net revenue growth. This improvement on our revenue dynamic is a result of adjustments to our marketing strategy made at the end of Q3 2023, including greater focus on higher quality customer cohorts and lower discounts. It is great to see the benefits of these adjustments, such as improved customer retention, materializing. Noticeably, consumer se ntiment also stabilized.

At the same time, the team worked hard on executing our strategic shift to an asset - light model for our US business which is expected to provide us with a scalable platform at an improved cost structure. The transition has been smooth with our meal - kit business havin g been transferred in early February. Since then, customer satisfaction has remained high, and the first cost savings have been realized. At the same time, our US team has begun integrating our newly acquired bistroMD operations. The combination of strong operational execution globally and our lower - discount marketing strategy led to a record contribution margin for the quarter, significantly up year - on - year.