HelloFresh Group Achieves 7.5% AEBITDA Margin in Q2 2024

HelloFresh SE announced a Group AEBITDA margin of 7.5% for Q2 2024, supported by a continued expansion in the average order value (AOV). The Group's revenue reached approximately €1.95 billion, a 0.9% increase on a constant currency basis. Growth in the Ready-to-Eat business and higher AOV drove these results, despite a slight decline in order volume.

The Ready-to-Eat segment saw a 45.2% increase in revenue to €519 million, while meal kits revenue fell by 9.9% to €1.41 billion. The overall AEBITDA for the Group was €146 million, down from €192 million in Q2 2023, with margins of 4.0% for Ready-to-Eat and 12.2% for meal kits. The company arranged €190 million in term loan financing for debt refinancing, solidifying its capital structure.

Dominik Richter, CEO of HelloFresh, emphasized investments in product quality and production capacity as key factors in achieving these results. As the market consolidates, the company aims to optimize costs and focus on long-term profitability by targeting high-value customers.