Retailers

HelloFresh Reports Revenue Growth of 61.5% for Full-Year 2021

Attributes strong fiscal year to customer growth and high order rates, meals per order
HelloFresh
Photograph: Shutterstock

After a strong third quarter, HelloFresh Growth maintained momentum, reporting full-year 2021 group revenue increased 61.5% year over year to $6.7 billion—the upper end of its previously revised revenue growth outlook. On an adjusted EBITDA basis, HelloFresh reached $587.7 million.

The Berlin-based meal-kit company, which announced its earnings for fiscal 2021 on March 1, said in a release that growth was driven by an increase in customers in both its U.S. and international segments, as well as continued high order rates and meals per order.

In the fourth quarter of 2021 alone, HelloFresh delivered more than 111 million meals to 3.5 million U.S. customers for a year-over-year increase of 38.7% and 34.9%, respectively. Internationally, active customers reached 3.7 million, an increase of 38.1% year over year, and meals delivered 133 million, an increase of 34.3%.

“2021 has been another year of successful growth and expansion for HelloFresh. We delivered very meaningful growth across both segments, despite a tough benchmark, given that 2020 was an unprecedented year of lockdowns,” Dominik Richter, co-founder and CEO of HelloFresh, said in a release.

HelloFresh also reported a successful expansion into the ready-to-eat segment, reporting triple-digit growth driven by its acquisition of Factor, a U.S.-based prepared-meals company, in 2020 and its acquisition of ready-to-eat company Youfoodz in Australia in 2021.

Further driving growth, the company also launched in Norway, Italy and Japan; brought Green Chef as an additional brand to the U.K. market; and extended its HelloFresh Market offering of high-quality curated add-ons to the U.S. These moves, Richter said, is HelloFresh’s way of “laying the foundations for reaching our mid-term targets and charging towards becoming the world’s leading integrated food solutions group.”

As it continues to invest in long-term growth capabilities—including the ongoing build out of its fulfillment infrastructure and the strengthening of its tech and data platform—HelloFresh reiterated its guidance for 2022, with plans to grow revenue by 20% to 26%.

 

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