BERLIN (dpa-AFX) - German meal kit company HelloFresh SE (HLFFF, HFG.F) expects consolidated revenue for the fiscal year 2024 to be about 7.66 billion euros, up from 7.60 billion euros in fiscal year 2023, reflecting a constant currency growth of about 0.9%.
The adjusted EBITDA or AEBITDA of the HelloFresh Group is anticipated to be around 399 million euros, compared to 447.6 million euros in fiscal year 2023.
Both figures align closely with the previous outlook, with constant currency revenue growth expected to be near the lower end of the 1.0% to 1.7% range and AEBITDA projected to reach the upper end of the 360 million euros to 400 million euros range. The introduction of cost-efficiency initiatives in the second half of fiscal year 2024 has significantly improved the Group's AEBITDA compared to both the first half of fiscal year 2024 and the second half of fiscal year 2023. Consequently, the company is on track to meet the upper end of its previously provided 2024 Group AEBITDA outlook.
The company said it has decided to expand the comprehensive efficiency program initiated and communicated to the capital market in the second-half of 2024 and to extend it until 2026. This efficiency program covers all key aspects of the HelloFresh Group's cost base, except for its physical product. It comprises the disciplined pursuit of higher marketing return-on-investment thresholds, direct production labor productivity increases in both meal kits and ready-to-eat, a streamlining of the meal kit production capacity, savings in overhead personnel expenses, indirect procurement savings and a sustained lower level of the HelloFresh Group's capital expenditures.
The company targets to meaningfully increase adjusted EBIT (pre impairment) on Group level from 136 million euros in the fiscal year 2024 to 200 million euros to 250 million euros in the fiscal year 2025 representing an approximately 65% increase at the midpoint of the outlook range. The targeted AEBIT increase would also be commensurate with meaningful growth in AEBITDA on Group level, from 399 million euros in the fiscal year 2024 to about 450 million euros to 500 million euros in the fiscal year 2025.
For fiscal year 2025, the company estimates a decrease in constant currency revenue to be between 3% and 8%.
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