HelloFresh hits €295.6 million in sales for Q1 2018, lifts revenue forecast for the year

Berlin-based meal-kit delivery firm HelloFresh raised its full-year revenue growth outlook to 30% - 35% on a constant currency basis after reporting strong growth in the first quarter of 2018, driven by the United States, its biggest market.

The German publicly-listed company has reported a strong start of the year, increasing the number of active customers by 61.7% to around 1.88 million worldwide, and its consolidated revenue went up by 59.8% on a constant currency basis to 295.6 million euros.

HelloFresh now claims market leadership (by sales) in the competitive US market, where the number of its active customers rose by 68.9% to 1.21 million, and constant currency revenue increased by 72.5%.

Perhaps most importantly, the company generated positive cash flow from operating activities of 6.6 million euros for the first time in Q1 2018, also reporting a cash level on balance sheet amounting to 330.9 million euros.

Startup builder Rocket Internet recently announced that it will sell its shares in HelloFresh for proceeds of around €150 million.

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