Breaking Stories

HelloFresh Hits 5M Customers And Nearly 20M Orders

Meal kit delivery company HelloFresh doubled its orders in the third quarter and reached an all-time high of 5 million customers combined between the U.S. and the rest of the world, the company said in a Tuesday (Nov. 3) press release.

Its third quarter also saw a record number of orders at 19.49 million, which was a 114 percent increase year over year.

The firm’s revenue was accelerated 120 percent to 970.2 million euros, with the huge surge coming because of “strong engagement” from active customers as well as adding new ones.

According to CEO and Co-Founder Dominik Richter, quoted in the release, much of the growth came because of the COVID-19 pandemic, which saw more people cooking at home in the absence of the ability to dine out.

“The trend towards eating more meals at home accelerated during the pandemic and we consider the key drivers for this to have become permanent. Consumers will continue to rely on e-commerce to shop for food in a safe and convenient way and additionally, they will continue to work from home and therefore eat more meals at home. We see this trend reflected in our continued strong customer growth and consistently higher customer engagement across all markets, despite Covid related restrictions being lifted during Q3”, Richter said, according to the release.

HelloFresh boosted its revenue projections earlier in the pandemic as people continued to need deliveries. Meal kits were seen as a fresh way for families who were avoiding going out but wanted creative things they could prepare and eat at home.

In addition, the company’s adjusted EBITDA reached 114.7 million euros, including 69.9 million in Europe and 57.6 million in the U.S.

The company has also committed to offsetting direct carbon emissions, including from production facilities and offices, business travel and deliveries, by investing in climate protection projects. And the company has increased its meal donations to those in need, the release says.

What is your reaction?

Excited
0
Happy
0
In Love
0
Not Sure
0
Silly
0

You may also like

Leave a reply

Your email address will not be published. Required fields are marked *