Thanks to the Corona crisis, parcel delivery company HelloFresh posted a strong second quarter. Since many people had to stay at home because of Corona measures and no longer wanted to go to the supermarket, the German company was able to significantly increase its sales.
According to preliminary quarterly figures, sales during this period ranged from EUR 965 million to EUR 975 million. This is far more than the almost EUR 437 million that came into the books a year earlier. At the same time, operating profit rose from around EUR 18 million to EUR 145 to 155 million. Both sales and profit were significantly stronger than expected.
The company is now also raising its financial expectations for the full year 2020, and HelloFresh expects growth of between 55 and 70 percent this year, excluding exchange rate fluctuations. Previously, growth was projected to be between 40 and 55 percent. In addition, the forecast for the operating result was tightened. It is expected to increase by 8 to 10 percent this year, the company said.
HelloFresh also managed well in the first quarter with sales of almost 700 million euros. That was 66 percent more than a year earlier.