German group HelloFresh made nearly €3bn in half-year sales as people were hungry for its meal kits while stuck at home during the pandemic.
The startup delivers boxes with fresh ingredients already measured for the recipes selected in advance by the customers, on a subscription basis.
Founded in 2011, it operates in the US, UK, Germany, the Netherlands, Belgium, Luxembourg, Australia, Austria, Switzerland, Canada, New Zealand, Sweden, France, Denmark and Norway.
In the six months ended 30 June, revenue was up 79% to €2.9bn with underlying earnings (AEBITDA) up 46% to €317mln.
Active customers were 7.6mln at period-end, with an average order value of €50.2.
HelloFresh expects to deliver full-year revenue growth of 45-55% but AEBITDA margin forecasts were trimmed to 8.25-10.25% from 10-12% previously due to continued investment in expanding its operations.