HelloFresh has increased its first quarter outlook: the meal box delivery company sees a huge increase in demand, as the corona crisis inspires more people to cook at home.
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Lockdown creates home cooks
HelloFresh says it saw a considerable increase in demand in January and February, but the corona crisis has given the company an extra boost in May. As restaurants are forced to close in a growing number of countries, ever more people are beginning to cook at home and look to a meal box to make the step easier.
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For the first quarter of 2020, the German meal box delivery company now counts on a turnover of 685?to 710?million euros, quite a lot higher than current analysts' expectations. In the same period last year, the company reached a turnover of 420.1?million euros. The AEBITDA would climb to 55?to 75?million euros, compared to a negative result of 26.1?million a year before.
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HelloFresh says it is unable to estimate the consequences of the corona crisis on the global economy in general and on itself in particular, so it refrains from publishing a new full-year outlook. Definitive quarterly results will be published on 5?May.
