HelloFresh SE Reports Resilient AEBITDA Amid Revenue Decline

In fiscal year 2025, HelloFresh SE recorded revenues of approximately €6.8 billion, a 9% year-over-year decline when adjusted for currency. Despite this dip, the company saw a 14% increase in adjusted EBITDA (AEBITDA), reaching €422.8 million. The meal kit segment notably achieved a 13.5% AEBITDA margin, up from 9.8% in 2024.

The company's efficiency program is progressing well, with around 80% of initiatives completed by the end of 2025 and generating €160 million in total savings. This contributed to the strong AEBITDA, while investments in product quality and choice under "The Refresh" program are set to expand further, funded by efficiency gains and slight price increases.

Looking to 2026, HelloFresh anticipates a further revenue decline of 3% to 6% in constant currency. Efficiency measures and reinvestments are expected to affect the AEBITDA forecast, anticipated between €375 million and €425 million.