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US News Record year due to crisis: Hellofresh with strong growth

17:10  02 march  2021
17:10  02 march  2021 Source:   t3n.de

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The cook box mail order company Hellofresh supplies its customers with prepared, already measured ingredients and its own recipes - and has booked a record year due to the high demand during the Corona crisis.

Mit vorbereiteten, bereits abgemessenen Zutaten und eigenen Rezepten beliefert der Kochboxenversender Hellofresh seine Kunden - und hat aufgrund der hohen Nachfrage in der Corona-Krise ein Rekordjahr verbucht. © Ryan Dinham / HelloFresh SE / dpa The cook box mail order company Hellofresh supplies its customers with prepared, already measured ingredients and its own recipes - and has booked a record year due to the high demand during the Corona crisis.

With 3.75 billion euros, sales more than doubled last year, the MDax company announced on Tuesday in Berlin. Business in the USA still accounts for more than half of total sales. The other markets are listed together as an international segment.

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In the first year of the Corona crisis, Hellofresh recorded around 74.3 million orders worldwide, almost twice as many as in 2019. The bottom line was that there was still a lot left: after a loss of around seven million euros in the previous year, the group now made a profit of a good 351 million euros. Preparing and eating

meals at home had a new meaning in 2020, said CEO Dominik Richter on Tuesday. "While the pandemic will hopefully subside over the course of the year, we firmly believe that consumers will continue to use e-commerce solutions to shop for groceries."

In the current year Hellofresh wants to convince more customers in its 14 existing markets, among other things with new brands. In addition, the group wants to open up two to three new countries. Hellofresh recently expanded to Sweden and Denmark. Experts speculated that it could go to Japan and Norway. The company is currently actively looking for new employees there.

Investors remained skeptical on Tuesday. After a short pre-IPO jump up, the share went down in early trading on Tuesday. Most recently, the paper was quoted more than one and a half percent lower than the day before.

On Tuesday, Hellofresh recorded the moderate outlook for 2021 compared to last year. In mid-December, the company raised its forecast for 2020: Sales in the current year should increase by 20 to 25 percent after adjusting for currency effects.

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