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HelloFresh Sees Sales Almost Doubling as Pandemic Persists

Sarah Syed and Richard Weiss

(Bloomberg) -- HelloFresh SE said a sustained increase in demand for meal kits prompted the company to raise its forecast for sales and profitability.

More favorable than expected summer seasonality, additional demand triggered by a renewed worsening of the pandemic in some markets and higher customer retention mean full year 2020 revenue growth will now be 75% to 95%, compared with an earlier forecast of 55% to 70%, HelloFresh said in a statement ahead of the publication of its second-quarter earnings report scheduled for Aug. 11.The company’s full year 2020 adj. Ebitda margin guidance, previously 8% to 10%, has now been lifted to between 9% and 11%, HelloFresh said.

Key Insights

In a July pre-release, the company narrowed its 2020 adjusted Ebitda margin guidance already from an earlier forecast of 6% to 10%.Revenue growth could reach about 120% in the second quarter, Bloomberg Intelligence said, while a boost in orders and customers in the U.S. could last beyond this year.

Get More

HelloFresh Climbs as Kepler Raises PT Amid Meals-at-Home BoomHelloFresh Rises as Deutsche Bank Expects Growth to ContinueHelloFresh Sees 2Q Rev, Adj Ebitda Significantly Above Estimates

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