HelloFresh SE Announces Financial Outlook for 2023 and 2024, Revises Midterm Targets

HelloFresh SE, a global leader in meal kit delivery, has released its financial outlook for the fiscal year 2023 and provided an outlook for 2024, alongside an adjustment to its midterm targets. The company reported that its fiscal year 2023 performance is expected to be in line with its previous outlook. Consolidated revenue for 2023 is predicted to be approximately EUR 7,597 million, representing a constant currency growth of about 2.8%. Adjusted EBITDA (AEBITDA) is forecasted to reach EUR 448 million. These figures align with the company's projected growth of 2% to 5% in revenue and an AEBITDA of EUR 430 million to EUR 470 million for 2023.

Looking ahead to 2024, HelloFresh sets its revenue growth target between 2% and 8% on a constant currency basis, with a significant contribution expected from its ready-to-eat product line. However, the company anticipates a decrease in AEBITDA for 2024, projecting it between EUR 350 million and EUR 400 million, reflecting ongoing investments and operational expansions. Notably, HelloFresh has revised its midterm goals, no longer expecting to achieve EUR 10 billion in revenue and EUR 1 billion in AEBITDA by 2025 due to changing market conditions.

The company plans to release its annual report for the fiscal year 2023 on March 15, 2024. It emphasizes that the preliminary numbers for 2023 and the outlook for 2024 may be subject to adjustments. HelloFresh remains focused on enhancing its product offerings and operational efficiency as it navigates a dynamic market environment.