October 24, 2020

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HelloFresh is raising expectations due to the return of the coronavirus

HelloFresh is raising expectations due to the return of the coronavirus


Photo: ANP

The food box delivery company HelloFresh has gotten more positive throughout 2020. The company notes that there is more demand for its services than usual this summer. In addition, the increasing number of corona cases is also positive for the German company. Just like during the first wave, people choose to have the food boxes delivered and not go to the store themselves. HelloFresh also manages to retain its customers better and notices that they are ordering more.

HelloFresh expects sales between 75 and 95 percent for this year compared to the previous year. The company used to expect sales growth of between 55 and 70 percent, but is currently growing at 65.9 percent. The profit margin should also grow faster than previously assumed. According to HelloFresh, the adjusted operating profit (EBITDA) margin is between 9 and 11 percent, compared to 8 to 10 percent in the earlier forecast.

HelloFresh will be releasing figures for the second quarter later this week.