WASHINGTON (dpa-AFX) - HelloFresh SE (HFG.F, HLFFF), a German meal-kit company, reported Thursday an adjusted EBIT loss in its third quarter, compared to prior year's profit, with weak revenues. Orders also were lower in the quarter and the company confirmed its fiscal 2025 outlook.
In the third quarter, adjusted earnings before interest and tax or adjusted EBIT was negative 20.1 million euros, compared to prior year's profit of 6.7 million euros.
Adjusted EBIT margin was negative 1.3 percent, compared to positive 0.4 percent last year.
Adjusted EBITDA, a key earnings metric, fell 44.1 percent to 40.3 million euros from 72.1 million euros last year. Adjusted EBITDA margin was 2.5 percent, down from 3.9 percent a year ago.
The results reflected a double digit margin for the meal kit product category and a negative margin for the RTE product category.
Consolidated revenue in the quarter declined 13.5 percent to 1.58 billion euros from last year's 1.83 billion euros. Revenues fell 9.3 percent year-on-year on a constant currency basis.
Meals delivered in the quarter declined 12.4 percent from last year to 202.6 million.
Number of orders dropped 12.9 percent to 23.93 million from last year's 27.46 million, driven primarily by a deliberate effort to acquire less but higher quality customers.
Average order value excluding retail dropped 1 percent to 65.6 euros.
Further, HelloFresh reconfirmed its fiscal 2025 guidance, still expecting adjusted EBIT between 175 million euros and 225 million euros, adjusted EBITDA in the range of 415 million euros to 465 million euros.
The guidance for constant currency revenue remains a decrease of 6 percent to 8 percent.
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