German meal-kit company HelloFresh HFG said on Monday it expected its revenue to decrease in the current year, as it announced an extension to its cost-cutting programme alongside its annual figures for 2024.
The company forecast constant-currency revenue to decline by between 3% and 8% this year, compared to a 0.9% increase in constant-currency terms to around 7.66 billion euros ($8.30 billion)in 2024.
Analysts in a company-provided poll had estimated an average 2.7% increase.
HelloFresh said it would extend its current cost-cutting programme, which it announced in the second half of last year, until 2026, as it focuses on long-term profitability and free cash flow growth.
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It targets an increase in adjusted earnings before interest and taxes (EBIT) pre impairment to a range of 200 million euros to 250 million euros in 2025 from 136 million in 2024, helped by cost cuts and “significant investments into the company’s physical and digital product,” it said in a statement.
It expects its adjusted core profit (AEBITDA) to come between 450 million euros and 500 million euros in 2025, up from 399 million euros last year.
($1 = 0.9230 euros)