HelloFresh remains cautiously optimistic for year as it passes price hikes onto customers
HelloFresh this morning said it was “cautiously optimistic” about the second half of the year as the company grapples with soaring prices.
For the second quarter, the meal kit maker confirmed its previously-released figures, which showed that revenue for the three-month period rose to €1.96bn from €1.56bn.
Hellofresh topped expectations, delivering 557.1m meals in the first half of the year and said it has plans to launch in two more European markets this year, adding to the 17 countries it already operates in.
Despite chief executive Dominik Richter telling reporters that he remains cautious about the second half of the year as the war in Ukraine continues and budgets continue to be squeezed, the company backs its outlook.
A HelloFresh spokesperson told City A.M. that the company increased its headcount by 500 new team members in 2021, increasing its UK headcount to over 2,000 colleagues.
Hellofresh said it was on track to reach its €10bn (£8.4bn) revenue goal, with a 10 per cent per cent core profit (EBITDA) margin by 2025.
Richter also said the firm had been largely mitigating inflation effects without need to pass these higher costs on in full to their customers.
Shares climbed over three per cent this afternoon for the Frankfurt-listed firm.