A strong increase in sales of ready-made meals is compensating for the declining demand for meal boxes HelloFreshwhich achieved record sales in the first quarter of 2024.
A quarter of the turnover
HelloFresh turned over more than two billion euros last quarter, a growth of 3.8% and also a record. However, the number of orders and the number of delivered meals continues to decline, but the average order value did increase. In addition, the delivery company is seeing strong growth in sales of ready-made meals. These amounted to 496 million euros, an increase of 56%: they therefore already represent about a quarter of the turnover.
Factor, as the meal division is called, is available in Australia, Canada, the United States and – since the summer of last year – also in the Benelux. HelloFresh now also brings the prepared meals to Sweden and Denmark.
Partly as a result of high investments in the meals company and in marketing, the adjusted operating result fell by almost 75% to 16.8 million euros, but that was ultimately better than what analysts had feared. HelloFresh expects a turnover increase of between 2 and 8% and an operating result of 350 to 400 million euros for the full year.
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A strong increase in sales of ready-made meals is offsetting declining demand for meal boxes at HelloFresh, which posted record sales in the first quarter of 2024.
