BERLIN (dpa-AFX) - Adverse weather conditions in the U.S. at the beginning of the year, coupled with a broader slowdown in the meal-kit and ready-to-eat segment, weighed on HelloFresh in the first quarter. With revenue declining by over 13 percent to 1.68 billion euros, adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) fell by nearly 60 percent year-on-year to 24 million euros, the company announced on Wednesday. However, analysts had anticipated an even sharper decline in earnings. On the bottom line, the loss attributable to shareholders amounted to 55.5 million euros, compared to a loss of 124 million euros a year earlier.
The company reaffirmed its full-year outlook. Accordingly, 2024 revenues are expected to decline by approximately three to six percent on a currency-adjusted basis. Operating profit is projected to reach between 375 and 425 million euros, which, at the upper end of the range, would slightly exceed the previous year's figure./mis/stk
