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 increases its full year 2021 revenue growth outlook based on strong year-to-date growth
International Securities Identification Number (ISIN): DE000A161408
German Securities Code (WKN): A16140
Ticker Symbol: HFG
Listed: Regulated Market in Frankfurt am Main (Prime Standard)
Berlin, 1 November 2021 - The consolidated revenue of HelloFresh SE ("Company") for the third quarter of 2021 amounts to EUR 1,416 million (Q3 2020: EUR 970 million; latest market expectations (arithmetic average of published broker estimates as of 1 November 2021): EUR 1,312 million).
Based on the HelloFresh Group's strong revenue growth year-to-date through October, driven by strong year-on-year customer growth, continued high order rates and high average order value, its management board decided today to increase the Company's full year 2021 revenue growth outlook for the HelloFresh Group on a constant currency basis from previously between 45% and 55% to now between 57% and 62%. Based on current exchange rates, this would translate into a Euro-reported revenue growth of approx. two to three percentage points lower than the revenue growth on a constant currency basis. The increased growth outlook includes an approx. 0.4% growth contribution from the acquisition of Youfoodz, which closed on 27 October 2021 and will be consolidated for the months November and December 2021 in HelloFresh Group's revenue. The arithmetic average of published broker estimates for 2021 Euro-reported revenue growth as of 1 November 2021 amounts to 53%.
The Company does not change its adjusted EBITDA ("AEBITDA") margin outlook as it still expects a full year 2021 AEBITDA margin for the HelloFresh Group between 8.25% and 10.25% (arithmetic average of published broker estimates for 2021 AEBITDA margin as of 1 November 2021: 9.1%).
The Company will publish its financial statements for the first nine months and the third quarter of 2021 already today. All numbers presented in this release are unaudited.
Regarding the definition of the alternative performance measure AEBITDA and related information the Company refers to the corresponding definition in its Annual Report 2020, which has been published on the Company's website.
This document contains forward-looking statements relating to the business, financial performance and results of the Company, the HelloFresh Group or the industry in which the HelloFresh Group operates. These statements may be identified by words such as "will", "expect", "belief", "estimate", "plan", "target" or "forecast" and similar expressions, or by their context. Forward-looking statements include statements regarding: strategies, outlook and growth prospects; future plans and potential for future growth; growth of products and services in new markets; industry trends; and the impact of regulatory initiatives. These statements are made on the basis of current knowledge and assumptions and involve risks and uncertainties. Various factors could cause actual future results, developments or events to differ materially from those described in these statements, and neither the Company nor any other person accepts any responsibility for the accuracy of the opinions expressed in this document or the underlying assumptions. No obligation is assumed to update any forward-looking statements.