HelloFresh : Q1 slightly better, FY 2024 targets confirmed
>Q1 profits are down 75% y-o-y but slightly better than feared - In Q1, revenue increased 4% y-o-y excluding FX to € 2,074m (consensus: € 2,019m, ODDO BHFe: € 2,038m) which is 2% above consensus. Categories: Ready to Eat grew 56% whereas meal kits was down7%. North America was up 5%, while the International segment grew 2%. Adjusted EBITDA decreased 75% to € 16.8m (consensus: € 8m, ODDO BHFe: € 10m) which is better than expected. However, absolute numbers are small, a...HelloFresh is engaged in the delivery of meal kits to customers in the U.S., the United Kingdom, Germany, the Netherlands, Belgium, Luxembourg, Australia, Austria, Switzerland and Canada. Co. provides portioned food and recipes, which its subscribers receive in weekly boxes. Co. provides both omnivore and vegetarian options, with fresh ingredients and chef-inspired recipes.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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