HelloFresh SE: HelloFresh SE expects revenue and adjusted EBITDA ('AEBITDA') for Q1 2020 above market expectations

Public disclosure of inside information according to Article 17 para. 1 of the Regulation (EU) No 596/2014 on market abuse (market abuse regulation - MAR)

HelloFresh SE expects revenue and adjusted EBITDA ("AEBITDA") for Q1 2020 above market expectations

International Securities Identification Number (ISIN): DE000A161408
German Securities Code (WKN): A16140
Ticker Symbol: HFG
LEI: 391200ZAF4V6XD2M9G57
Listed: Regulated Market in Frankfurt am Main (Prime Standard)

Berlin, 30 March 2020 - While HelloFresh SE ("Company") has experienced in the months January and February 2020 continued strong growth, it has started to see a further meaningful acceleration since the latter half of March 2020, driven by increased demand due to the heightened public focus on the evolving Covid-19 pandemic. Based on first preliminary indications, the Company expects:

- Consolidated revenue of the Company for the first quarter of 2020 in a range between approximately EUR 685 million and EUR 710 million (Q1 2019: EUR 420.1 million). This revenue range meaningfully exceeds the latest published research analyst expectations.

- Group AEBITDA for the first quarter of 2020 in a range between approximately positive EUR 55 million and positive EUR 75 million (Q1 2019: negative EUR 26.1 million). This AEBITDA range meaningfully exceeds the latest published research analyst expectations.

From today's perspective, the Company considers the uncertainties and resulting full year impact created by the Covid-19 pandemic for the global economy and the Company as not reliably quantifiable. Therefore, the Company is not amending its previously provided guidance for the full year 2020 at this point in time.

The Company will publish its quarterly financial statements for the first quarter of 2020 as scheduled on 5 May 2020. The final numbers for the first quarter of 2020 may deviate from the ranges presented in this release. All numbers presented in this release are unaudited and based on first preliminary indications (including a number of estimates), which were created based on extraordinary analyses to monitor business development under the current circumstances.

Regarding the definition of the alternative performance measure AEBITDA, the Company refers to the corresponding definition in its Annual Report 2019, which is published on the Company's website.

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This document contains forward-looking statements relating to the business, financial performance and results of the Company, the HelloFresh Group or the industry in which the HelloFresh Group operates. These statements may be identified by words such as "will", "expect", "belief", "estimate", "plan", "target" or "forecast" and similar expressions, or by their context. Forward-looking statements include statements regarding: strategies, outlook and growth prospects; future plans and potential for future growth; growth of products and services in new markets; industry trends; and the impact of regulatory initiatives. These statements are made on the basis of current knowledge and assumptions and involve risks and uncertainties. Various factors could cause actual future results, developments or events to differ materially from those described in these statements, and neither the Company nor any other person accepts any responsibility for the accuracy of the opinions expressed in this document or the underlying assumptions. No obligation is assumed to update any forward-looking statements.