HelloFresh SE: HelloFresh SE expects revenue growth and an adjusted EBITDA ('AEBITDA') margin above its previously published guidance
HelloFresh SE / Key word(s): Preliminary Results/Change in Forecast
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 and an adjusted EBITDA ("AEBITDA") margin above its previously published guidance
International Securities Identification Number (ISIN): DE000A161408
Berlin, 15 January 2020 - Based on preliminary and unaudited figures, consolidated revenue of HelloFresh SE ("Company") for the fiscal year 2019 is expected to amount to between EUR 1,808 million and EUR 1,811 million. This corresponds to revenue growth of approx. 36% on a constant currency basis, exceeding the Company's previously published guidance of 31% to 33% due to better than expected performance in the fourth quarter 2019.
The segment USA is expected to contribute EUR 1,024 million to EUR 1,026 million and the segment International is expected to contribute EUR 784 million to EUR 785 million to consolidated revenue for the fiscal year 2019.
Based on preliminary and unaudited figures, the Company expects to achieve on the group level a contribution margin between 28.5% and 28.7% in the fiscal year 2019, which is in line with its previously published guidance of 28% to 29%.
Based on preliminary and unaudited figures, the group's AEBITDA for the fiscal year 2019 is expected to amount to between positive EUR 45 million and positive EUR 48 million (which represents a positive AEBITDA margin (AEBITDA as a percentage of revenue) of 2.5% to 2.7%), exceeding its previously published guidance of 0.50% to 1.75% due to better than expected performance in the fourth quarter 2019. The segment USA is expected to contribute between positive EUR 9 million and positive EUR 10 million to AEBITDA and the International segment is expected to contribute between positive EUR 81 million and positive EUR 84 million to AEBITDA; the remainder relates to the Holding AEBITDA. AEBITDA excludes inter alia expenses incurred due to an increase in certain legal provisions in an amount of approx. EUR 10 million.
Due to the publication of this release, the Company will not publish (other than originally planned) a trading update for the fiscal year 2019 on 21 January 2020. The Company will publish its full annual report for the fiscal year 2019 as scheduled on 3 March 2020. The final numbers for the fiscal year 2019 may deviate from the ranges presented in this release.
Regarding the definitions of the alternative performance measures AEBITDA and contribution margin, the Company refers to the corresponding definitions in its Annual Report 2018, which is published on the Company's website.
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 "will", "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 of 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, developments 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.
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|EQS News ID:||954567|
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