PRESS RELEASE : Q1 2021: HelloFresh SE reaches 7.3 million customers in record quarter

DGAP-News: HelloFresh SE / Key word(s): Quarterly / Interim Statement 
Q1 2021: HelloFresh SE reaches 7.3 million customers in record quarter 
2021-05-04 / 06:47 
The issuer is solely responsible for the content of this announcement. 
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Q1 2021: HelloFresh SE reaches 7.3 million customers in record quarter 
- Active customer base grows strongly to 7.3 million in Q1 2021, adding around 1 million customers each in the Intl. 
and in the US segment vs. Q4 2020. 
- Group revenue more than doubles y-o-y, reaching EUR1.44 billion in Q1 2021 (+116.1% y-o-y in constant currency, Q1 
2020: EUR699.1 million). 
- Adjusted EBITDA for the group reaches EUR159 million, corresponding to an adjusted EBITDA margin of 11%. 
Berlin, 4th May, 2021 - HelloFresh SE ("HelloFresh"), the world's leading meal kit company, delivered a very strong 
start to the year. In the first quarter of 2021, the company saw y-o-y and sequential growth in active customers across 
both operating segments (the US segment and the International segment), reaching 7.3 million (Q1 2020: 4.18 million; Q4 
2020: 5.29 million). The group's revenue reached EUR1.44 billion (+116.1% y-o-y in constant currency, Q1 2020: EUR699.1 
million). The robust performance was mainly driven by strong customer growth and supported by continued high order 
rates and order values. On an adjusted EBITDA basis, HelloFresh reached EUR159 million in the first quarter of 2021 
(+152.3% y-o-y, Q1 2020: EUR63.1 million), corresponding to an adjusted EBITDA margin of 11%. 
"2021 has set off to a strong start. Our teams have been working hard to de-bottleneck the capacity constraints we were 
experiencing over the majority of 2020, especially in our US market. As a result, we've welcomed more customers than 
ever to HelloFresh", says Dominik Richter, CEO and co-founder of HelloFresh. "As consumers around the world have been 
adapting to new habits, like buying groceries online, they've also discovered the many advantages of our full meal 
solutions over traditional grocery shopping. Since we offer our customers great value for money, convenience as well as 
tasty and healthy meals, I am confident that we will benefit disproportionately from the shift to increased online 
grocery penetration." 
Growth initiatives continue to pay off 
The recently acquired US ready-to-eat meal company Factor is already favorably contributing to the group's success. 
Both HelloFresh and Factor have shown exceptionally high growth rates in 2020, growing significantly faster than their 
overall respective categories. This trend has continued in Q1 2021 and allowed the group to gain meaningful market 
share across all brands. 
Revenue growth outlook for 2021 of 35% -45% 
HelloFresh raised it's full year guidance for revenue growth on April 15th. Based on the strong performance in the 
first quarter of 2021 the company increased its full year 2021 revenue growth guidance on a constant currency basis 
from previously between 20% and 25% to now between 35% and 45%. The company also narrowed its full year 2021 adjusted 
EBITDA margin guidance from previously between 9% and 12% to now between 10% and 12%. 
Key Performance Indicators 
Group 
                      Q1 2021 Q1 2020 Y-o-Y 
Active customers (m)   7.28    4.18   74.2% 
Number of orders (m)   29.28   14.74  98.6% 
Meals delivered (m)    239.1   111.3  114.8% 

U.S.

                      Q1 2021 Q1 2020 Y-o-Y 
Active customers (m)   3.69    2.64   39.8% 
Number of orders (m)   15.10   8.95   68.7% 
Meals delivered (m)    113.9   61.3   85.8% 

International

                      Q1 2021 Q1 2020 Y-o-Y 
Active customers (m)   3.59    1.54   133.1% 
Number of orders (m)   14.20   5.79   145.3% 
Meals delivered (m)    125.1   50.0   150.2% 

Results of Operations

Group

                                       Q1 2021 Q1 2020 Y-o-Y 
Revenue (in mEUR)                      1,442.9  699.1   106.4% 
Revenue growth in constant currency    1,510.6  699.1   116.1% 
Contribution Margin (in mEUR)*          406.6   201.1   102.2% 
Contribution Margin (in % of Revenue)   28.2%   28.8%  (0.6) pp 
AEBITDA (mEUR)                          159.2   63.1    152.3% 
AEBITDA (in % of Revenue)               11.0%   9.0%    2.0 pp 

U.S.

                                       Q1 2021 Q1 2020 Y-o-Y 
Revenue (in mEUR)                       802.4   436.7   83.7% 
Revenue growth in constant currency     876.9   436.7   100.8% 
Contribution Margin (in mEUR)*          233.6   131.5   77.6% 
Contribution Margin (in % of Revenue)   29.1%   30.0%  (0.9) pp 
AEBITDA (mEUR)                          92.5    49.6    86.5% 
AEBITDA (in % of Revenue)               11.5%   11.3%   0.2 pp 

International

                                       Q1 2021 Q1 2020 Y-o-Y 
Revenue (in mEUR)                       640.4   262.2  144.2% 
Revenue growth in constant currency     633.7   262.2  141.7% 
Contribution Margin (in mEUR)*          177.9   72.3   146.1% 
Contribution Margin (in % of Revenue)   27.6%   27.6%  0.0 pp 
AEBITDA (mEUR)                          85.3    26.2   225.6% 
AEBITDA (in % of Revenue)               13.3%   10.0%  3.3 pp 

*Net of share-based compensation expenses

About HelloFresh HelloFresh SE is the world's leading meal-kit company and operates in the U.S., the United Kingdom, Germany, the Netherlands, Belgium, Luxembourg, Australia, Austria, Switzerland, Canada, New Zealand, Sweden, France and Denmark. In Q1 2021, HelloFresh delivered 239 million meals and reached close to 7.3 million active customers. HelloFresh was founded in Berlin in November 2011 and went public on the Frankfurt Stock Exchange in November 2017. HelloFresh has offices in New York, Berlin, London, Amsterdam, Sydney, Toronto, Auckland, Paris and Copenhagen.

Press contact                            [phone] 
Saskia Leisewitz                         [e-mail] 
Senior Corporate Communications Manager  www.hellofreshgroup.com 
HelloFresh Group ----------------------------------------------------------------------------------------------------------------------- 

2021-05-04 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de -----------------------------------------------------------------------------------------------------------------------

Language:     English 
Company:      HelloFresh SE 
              Saarbrücker Straße 37a 
              10405 Berlin 
              Germany 
E-mail:       [e-mail] 
Internet:     www.hellofreshgroup.com 
ISIN:         DE000A161408 
WKN:          A16140 
Indices:      MDAX 
Listed:       Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, 
              Hamburg, Munich, Stuttgart, Tradegate Exchange 
EQS News ID:  1192006 
 
End of News   DGAP News Service 
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1192006 2021-05-04

 
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May 04, 2021 00:48 ET (04:48 GMT)