In this Consumer Weekly newsletter, we provide a brief overview of the key factors affecting our Consumer coverage, from Luxury & Consumer goods to Retail & E-commerce and Food & Ingredients. This week, we look at the expected growth recovery among e-commerce players and the necessary b
EQS-News: HelloFresh SE / Schlagwort(e): Jahresbericht HelloFresh SE meldet €7,6 Mrd. Konzernumsatz für das Geschäftsjahr 2023 und kehrt zu positivem freiem Cashflow zurück 15.03.2024 / 06:59 CET/CEST Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. HelloFresh SE meldet €7,6 Mrd. Konzernumsatz für das Geschäftsjahr 2023 und kehrt zu positivem freiem Cashflow zurück Gesteigerter durchschnittlicher Bestellwert und stark wachsendes Geschäft mit Fertiggerichten leisten bedeutenden Beitrag Währungsbereinigtes Wachstum von ca. 3% auf ca. €7,...
EQS-News: HelloFresh SE / Key word(s): Annual Report HelloFresh SE reports €7.6bn consolidated revenue for the FY 2023 and returns to positive free cash flow 15.03.2024 / 06:59 CET/CEST The issuer is solely responsible for the content of this announcement. HelloFresh SE reports €7.6bn consolidated revenue for the FY 2023and returns to positive free cash flow Expanded AOV and strongly growing Ready-to-Eat business contribute meaningfully Constant currency growth of approx. 3% to approx. €7.6 bn consolidated revenue In its fifth consecutive year of profitable growt...
With the glass ceiling in the meal-kit adoption rate reached much earlier than expected and 80% of business now set to stagnate at best, HelloFresh's long-standing growth story looks dead. Cut to Neutral with a new SOTP valuation showing that the current EUR7 share price rightly values the meal-kit
>2023 prelims OK, but materially lower profits in 2024 - Yesterday evening, HelloFresh published an ad-hoc release. Revenue for 2023 is expected to amount to € 7.6bn (consensus: € 7.68bn, ODDO BHFe: € 7.66bn) with constant currency growth of 3%. Adjusted EBITDA is expected to amount to € 448m (consensus: € 451m, ODDO BHFe: € 454m). Both figures are in line with the company’s outlook and also broadly in line with expectations. Management also provided the first o...
Following a surprising 11% FY EBITDA warning (mostly driven by temporary and already resolved issues by now concerning ready-to-eat in the US), we have cut our FY 2023-25 sales, EBITDA and FCF estimates by respectively 2-3%, 11% and 16% and arrive at a new PT of EUR33. Beyond legitimately poor shor
>New sales target in line, new profit target implies 9% downside - Yesterday evening, HelloFresh narrowed its revenue growth outlook excluding FX for 2023 from 2%-8% to 2%-5% (consensus: 3%), i.e. in terms of sales that is no major surprise. Adjusted EBITDA target of € 470-540m was lowered to € 430-470m (consensus: € 495m). Quarterly active customers consequently will also be somewhat lower than initially anticipated. The lower revenue figure is partly driven by (i) f...
>Sales growth accelerates, but customer numbers down 6% - Q3 2023 sales increased 4% y-o-y excluding FX to € 1,804m (consensus: € 1,829m, ODDO BHFe: € 1,828m), i.e. was in line with expectations and implies an improvement vs 1% growth in Q2. The North America business was up 4%%, while the International segment grew 2% (both excluding FX). The number of active customers was down 6% to 7.1m while we believe expectations were for 7.1m to 7.3m. Average order value rose 7...
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