EQS-Adhoc

HelloFresh SE met outlook for the fiscal year 2023, provides outlook for the fiscal year 2024 and removes its midterm targets

EQS-Ad-hoc: HelloFresh SE / Key word(s): Forecast HelloFresh SE met outlook for the fiscal year 2023, provides outlook for the fiscal year 2024 and removes its midterm targets 07-March-2024 / 19:12 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.

 

Public disclosure of inside information according to Article 17 para. 1 of the Regulation (EU) No 596/2014 on market abuse (market abuse regulation - MAR)

 

HelloFresh SE met outlook for the fiscal year 2023, provides outlook for the fiscal year 2024 and removes its midterm targets

 

International Securities Identification Number (ISIN): DE000A161408
German Securities Code (WKN): A16140
Ticker Symbol: HFG
LEI: 391200ZAF4V6XD2M9G57
Listed: Regulated Market in Frankfurt am Main (Prime Standard)

Berlin, 7 March 2024 – Based on preliminary indications, consolidated revenue of HelloFresh SE (“Company”) for the fiscal year 2023 is expected to amount to approx. EUR 7,597 million (FY 2022: EUR 7,607 million) which corresponds to a constant currency growth of approx. 2.8% and HelloFresh Group’s adjusted EBITDA (“AEBITDA”) is expected to amount to EUR 448 million (FY 2022: EUR 477 million). Both figures are in line with the previously provided outlook of the Company for the fiscal year 2023 which envisages a revenue growth for the fiscal year 2023 for the HelloFresh Group on a constant currency basis between 2% and 5% and an AEBITDA for the HelloFresh Group for the fiscal year 2023 between EUR 430 million and EUR 470 million.

 

Based on the Company’s financial results for the fiscal year 2023, the current trading performance of the first weeks of the fiscal year 2024 and the current budget for the fiscal year 2024, the management board of the Company decided today on the outlook for the Company for the fiscal year 2024: The Company targets a constant currency revenue growth of the HelloFresh Group between 2% and 8%. The arithmetic average of published broker estimates for Euro-reported revenue growth of the HelloFresh Group for 2024 as of 7 March 2024 amounts to 7.1%. Within its ready-to-eat product vertical, which is currently delivering a c. 50% year-on-year growth rate, the Company expects to continue capitalizing on strong demand, as it continues to ramp-up production capacity. For meal kits, which currently experience in percentage terms a negative revenue growth in the high single digits, the Company expects to increasingly close the negative volume and revenue gap compared to the corresponding period in 2023, as it progresses through the year. The Company expects the results of ongoing investment into its physical and digital customer experience to contribute to this trend, as well as increasingly easier prior year comparative figures. From a segment perspective, the Company expects its North America segment revenue to grow at a higher rate than its International segment, driven by the higher share of ready-to-eat of total North America segment revenue.