HelloFresh announces continued strong growth in H1 2015

Berlin, 23 September 2015 - The first half of 2015 marked yet another period of outstanding growth for HelloFresh, the largest subscription- based Fresh Food at Home business globally.
- Active Subscribers grew by 429% vs June 30, 2014 to 402,000 as of June 30, 2015
- Total Meals Served in the first half grew by 355% vs the same period in 2014 to 18.2 million
- Net Revenue increased by 408% vs the same period in 2014 to Euro112.5m

Founded in 2011 by Dominik Richter and Thomas Griesel in Berlin, in the month of July HelloFresh served 4.4m meals in seven markets across three continents.

Despite its strong growth trajectory, HelloFresh was adjusted1 EBITDA (pre- marketing expenses) positive both during 2014 and for the first half of 2015 with adjusted (1) EBITDA (pre-marketing expenses) margin of around 13.4% and 15.7%, respectively. The Netherlands, one of our early adopter markets, have already been adjusted1 EBITDA (after marketing expenses) positive in the first half of 2014 and the first half of 2015, while still growing at a speed similar to other markets within the group demonstrating the inherent potential of the business model.

Strong growth on a global scale
These group trends are mirrored by both operational business segments of HelloFresh; Continental Europe (including Austria, Belgium, Germany and the Netherlands) and Rest of World (including Australia, the UK and the US). The rapid growth in the Rest of World segment has been particularly strong since expanding our US business nationwide in September 2014.

Given the early stage of our category and the vast market opportunity, we expect our overall growth to remain high. For H2 2015 we expect continued strong growth in Net Revenue, meaningfully higher than in H1 2015 on an absolute Euro basis and slightly lower on a percentage basis. We expect strong absolute growth to continue for the next two years, decelerating moderately on a percentage basis.

Strategic initiatives to capitalize on the HelloFresh advantage
HelloFresh has undertaken a number of strategic initiatives this year, targeted to continue its strong growth and to address the rapid adoption of subscription- based Fresh Food at Home globally. As such, we are focused on the build-out of our global platform, including the capacity ramp-up of our US business, which will allow us to continue on our growth path. We commenced work in two new warehouses in California and Texas and continuously explore opportunities to insource additional aspects of our fulfilment activities on a case by case basis.

In June, we launched the HelloFresh iPhone App for consumers worldwide. The HelloFresh App was featured in the App Store in a range of countries and is recognized by Apple as best in class. We see our mobile strategy as a key tool for growing and maintaining our base of subscribers and helping them to get the best from HelloFresh. For non-subscribers the app provides access to one of the largest databases of tested recipes in the world, and provides HelloFresh with another data source for each country's most preferred recipes. For subscribers, the app provides a meal-time remote control, for everything from managing their subscriptions to real time cooking tips, to links with social media to share their HelloFresh experience with the world.

As reported previously, HelloFresh entered into an investment agreement with Baillie Gifford, in which Baillie Gifford agreed to invest EUR 75 million.

About HelloFresh
HelloFresh currently operates in the UK, Germany, Austria, the Netherlands, Belgium, Australia and the USA. HelloFresh delivers about 4.4 million meals per month to more than 400 thousand active subscribers globally (as of June 2015). The company was founded in November 2011 and is based in Berlin. Further corporate offices are in New York, London, Amsterdam and Sydney. Current investors include Baillie Gifford, Insight Venture Partners, Phenomen Ventures, Rocket Internet, and Vorwerk Direct Selling Ventures.

This presentation contains certain forward-looking statements relating to the business, financial performance and results of HelloFresh GmbH and its subsidiaries (collectively, "HelloFresh") and/or the industry in which HelloFresh operates. Forward-looking statements concern future circumstances and results and other statements that are not historical facts, sometimes identified by the words "believes," "expects," "predicts," "intends," "projects," "plans," "estimates," "aims," "foresees," "anticipates," "targets," and similar expressions. The forward- looking statements contained in this presentation, including assumptions, opinions and views of HelloFresh or cited from third party sources, are solely opinions and forecasts which are uncertain and subject to risks. Actual events may differ significantly from any anticipated development due to a number of factors, including without limitation, changes in general economic conditions, in particular economic conditions in the markets in which HelloFresh operates, changes affecting interest rate levels, changes in competition levels, changes in laws and regulations, environmental damages and the potential impact of legal proceedings and actions. HelloFresh does not guarantee that the assumptions underlying the forward-looking statements in this presentation are free from errors nor does it accept any responsibility for the future accuracy of the opinions expressed in this presentation or any obligation to update the statements in this presentation to reflect subsequent events. The forward-looking statements in this presentation are made only as of the date hereof. Neither this document nor any further discussions with any of the recipients thereof shall, under any circumstance, create any implication that there has been no change in the affairs of HelloFresh since such date. Consequently, HelloFresh does not undertake any obligation to review, update or confirm recipients' expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of the presentation.
HelloFresh's securities will not be and have not been registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") and may not be offered or sold in the United States absent registration under the Securities Act or an applicable exemption from registration requirements. The securities will not be registered under the Securities Act. There will be no public offer of the securities in the United States.

Geplaatst in:

(1) Adjusted for stock compensation payments and certain other extraordinary items

Media Contact:
Eva Switala                                           +49 (0)30 220 121 440
Global Head of PR HelloFresh Global  +49 (0)160 98 082 688
Saarbrücker Str. 37a                            es@HelloFresh.com
10405 Berlin                                         www.hellofreshgroup.com



Andere persberichten van deze organisatie

Verstuur nu éénmalig een persbericht

Verstuur persberichten en beeldmateriaal naar redacties in binnen- en buitenland. Via het ANP-net, het internationale medianetwerk van PR Newswire of met een perslijst op maat.

Direct persbericht versturen
070 - 41 41 234