HelloFresh’s Small Revenue Growth in Q3 2024
HelloFresh recently shared its Q3 2024 results, and it’s all about smart spending and careful growth. Revenue reached €1.83 billion, a 1.9% growth year-over-year. Despite challenges, HelloFresh kept growing by focusing on efficient marketing. As a result, the company reached an adjusted EBITDA of €72 million—beating expectations! Daily GSN Magazine is always excited to share updates like these in the grocery sector.
Meal Kits Show a Small Decline
HelloFresh’s well-known meal kits generated €1.28 billion, but that’s down by 9.3% from last year. Why? The company has been careful about spending on new customer marketing, focusing more on keeping current customers happy. And it seems to be working—customer loyalty remains strong.
Meanwhile, their ready-to-eat (RTE) meals have been the big win! RTE revenue grew 39.9% to €529 million, marking it as a key growth area. RTE now brings in a profit, with a 1.3% EBITDA margin, and HelloFresh sees even more potential here.
HelloFresh’s Focus on Smarter Marketing and Growth
One key part of HelloFresh’s Q3 success is its careful marketing. Marketing spending was reduced, yet every euro spent worked harder. As a result, meal kit adjusted EBITDA rose to €109 million, up from €82 million last year, with a margin of 8.5%.
Dominik Richter, HelloFresh’s CEO, shared their plan to grow revenue while staying efficient. The next few years will see RTE products leading the growth, particularly in the U.S., where HelloFresh already holds a strong position.
Daily GSN Magazine will keep you posted as HelloFresh continues its journey to balance cost, growth, and customer satisfaction in 2024!
