HelloFresh SE: HelloFresh SE expects revenue growth above its previously published forecast and a significantly better adjusted EBITDA ('AEBITDA') as currently expected by the market
HelloFresh SE / Key word(s): Change in Forecast/Annual Results
Public disclosure of inside information according to Article 17 para. 1 of the Regulation (EU) No 596/2014 on market abuse (market abuse regulation - MAR)
HelloFresh SE expects revenue growth above its previously published forecast and a significantly better adjusted EBITDA ("AEBITDA") as currently expected by the market
International Securities Identification Number (ISIN): DE000A161408
Berlin, 18 January 2019 - Based on preliminary and unaudited figures, HelloFresh SE ("Company") achieved on a constant currency basis on a group level revenue growth of approx. 41% for the fiscal year 2018 and will therefore - due to the better than expected performance in the fourth quarter 2018 - exceed its latest forecast of 32% to 37%. Revenue of Green Chef Corporation and Chef's Plate Inc., which were acquired in 2018, were neither part of the latest revenue growth forecast nor are they part of the preliminary revenue growth numbers.
Revenue on the group level for the fiscal year 2018 is expected to range from EUR 1,275 million to EUR 1,279 million. Thereof, the US segment is expected to contribute EUR 732 million to EUR 734 million and the segment International is expected to contribute EUR 543 million to EUR 545 million. Revenue of the HelloFresh Group include revenue of Green Chef Corporation and Chef's Plate Inc., which were acquired in 2018.
On the basis of preliminary and unaudited figures, the HelloFresh Group expects to achieve a contribution margin exceeding 27.0% in the fiscal year 2018, outperforming the latest forecast of "better than 25%".
On the basis of preliminary and unaudited figures, the adjusted EBITDA for the fiscal year 2018 (including the earnings of Green Chef Corporation and Chef's Plate Inc., which were acquired in 2018) is expected to amount to between negative EUR 58 million and negative EUR 54 million on the group level, of which between negative EUR 35 million and negative EUR 33 million correspond to the US segment and between positive EUR 13 million and positive EUR 15 million to the International segment; the remainder represents the Holding AEBITDA.
The Company will publish its trading update for the fiscal year 2018 as scheduled on 29 January 2019 and its full annual report for the fiscal year 2018 as scheduled on 6 March 2019.
This document contains forward-looking statements relating to the business, financial performance and results of the Company, the HelloFresh group or the industry in which the HelloFresh group operates. These statements may be identified by words such as "expect", "belief", "estimate", "plan", "target" or "forecast" and similar expressions, or by their context. Forward-looking statements include statements regarding: strategies, outlook and growth prospects; future plans and potential for future growth; growth for products and services in new markets; industry trends; and the impact of regulatory initiatives. These statements are made on the basis of current knowledge and assumptions and involve risks and uncertainties. Various factors could cause actual future results, performance or events to differ materially from those described in these statements, and neither the Company nor any other person accepts any responsibility for the accuracy of the opinions expressed in this document or the underlying assumptions. No obligation is assumed to update any forward-looking statements. Regarding the definitions of Alternative Performance Measures, the Company refers to the relevant definitions in its Annual Report 2017, which is published on the Company's website.
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