The online supplier of meal boxes is also aiming for a growth of between 20 and 25 percent for 2021. ‘Anyone who has tasted the convenience of the deliveries will also order from us after corona’, it sounds.
The German group saw demand for its services flourish as a result of the pandemic. Customers need to visit the store less often and can thus earn the risk of contamination. Moreover, the concept is an alternative to the company restaurant for the many home workers. At the end of last year, HelloFresh had 5.3 million customers, which is 78 percent more than a year earlier.
While the coronavirus will lose momentum over the course of 2021, we expect customers to stay after having a taste of the convenience of food e-commerce.
The fourth quarter of 2020 was a record quarter with sales of over 1.1 billion euros and an EBITDA of 173.8 million euros. HelloFresh notes that not only the number of customers is increasing, but also the average size of the orders. In the past year, HelloFresh has significantly expanded the range in various countries, including salads, soups, desserts, breakfast and a so-called fresh market (bread, meat, milk …).
At the end of 2020, HelloFresh had 729 million euros in cash on the balance sheet, taking into account the acquisition of Factor75 from Chicago. Factor75 will be fully consolidated by 2021. In 2021, the group generated a turnover of 93 million euros.
For 2021, HelloFresh is aiming for an increase in turnover of between 20 and 25 percent and an EBITDA margin between 9 and 12 percent. “While the coronavirus will lose momentum through 2021, we expect customers to stay after having a taste of the convenience of food e-commerce,” said CEO Dominik Richter.
The group wants to tap into two to three new regions this year. HelloFresh has been active in Belgium since 2015.