HelloFresh SE

Latest Results (10.10.2025):

HelloFresh SE reported its financial results for the second quarter of 2025, highlighting a decline in revenue and order volumes compared to the same period last year. Despite these challenges, the company has made significant progress in improving its contribution margins and generating robust cash flow, supported by ongoing efficiency programs and strategic reinvestments.

Revenue and Order Volume Decline

In Q2 2025, HelloFresh SE's group revenue decreased by 12.9% year-over-year to €1,699.6 million, with the number of orders dropping by 12.5% to 25.32 million. This trend was observed across both North America and International segments, reflecting broader market challenges.

Improved Contribution Margins

The company's contribution margin slightly decreased by 2.8% to €460.3 million, while the contribution margin percentage improved to 27.1% of revenue. This improvement is attributed to the successful implementation of the MEUR 300+ efficiency program, which has streamlined operations and reduced costs.

Robust Cash Flow Generation

HelloFresh SE demonstrated strong cash flow performance, with cash flow from operating activities reaching €145.3 million in Q2 2025, up from €112.3 million in Q2 2024. Free cash flow per diluted share also saw a significant increase to €0.68, highlighting the effectiveness of the company's cost-saving measures.

Regional Performance Insights

North America experienced a 17.5% decrease in revenue to €1,063.8 million, while the International segment saw a modest decline of 3.9% to €635.9 million. Despite the revenue drop, both regions improved their contribution margins, with North America reaching 31.3% and International maintaining 22.2%.

Product Category Performance

The Meal Kits category remained the core revenue driver, although it experienced a 16.5% decline to €1,176.4 million. Conversely, the Ready-to-Eat (RTE) segment showed resilience with a slight revenue increase of 2.2% to €489.3 million. The "Others" category also saw significant growth, increasing by 47.4% to €33.9 million.