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HelloFresh Sees Q2 Adj. EBITDA, Revenue Above Market View, But Cuts FY22 Outlook

HelloFresh SE (HLFFF, HFG.F), a German meal-kit company, said it expects adjusted EBITDA for the second quarter of 2022 to be between about 140 million euros and 150 million euros, exceeding the latest market expectations.

In the second quarter of the fiscal year 2022 active customers amounted to about 8.0 million.

The company projects quarterly revenue to be about 1.96 billion euros, exceeding the latest market expectations.

The company stated that, since the original publication of its outlook for the fiscal year 2022 in December 2021, the overall macro environment has evolved significantly, with an accelerating inflation throughout the world, the war in the Ukraine and a material reduction in consumer confidence, all resulting in a higher level of uncertainty for the second half of the fiscal year 2022 for all market participants.

Therefore, the company cut its adjusted EBITDA outlook for the fiscal year 2022 to a range of 460 million euros - 530 million euros from the prior outlook of 500 million euros - 580 million euros.

HelloFresh reduced its revenue growth outlook for the fiscal year 2022 for the group on a constant currency basis from previously between 20% and 26% to now between 18% and 23% which corresponds at current exchange rates to a revenue growth in the reporting currency Euro of between about 26% and 31%.

The company will publish its financial statements for the second quarter and the first six months of 2022 on 15 August 2022.

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