By Kim Richters
HelloFresh SE on Tuesday reported an increase in second-quarter earnings and raised its guidance for the year for the third time amid the coronavirus pandemic.
The German meal-kit maker reported adjusted earnings before interest, tax, depreciation and amortization of 153.6 million euros ($180.3 million) for the quarter compared with EUR18.3 million the same period a year earlier.
Net profit rose to EUR115.8 million from a loss of EUR4.8 million the year earlier, it said.
Revenue for the period was EUR972.1 million, up from EUR436.7 million.
The company's final results matched expectations for the quarter given in July when the company said second-quarter figures would be above market expectations.
Late Monday, HelloFresh raised its guidance for 2020 for the third time, citing "a more favorable than expected summer seasonality" and "additional demand triggered by a renewed worsening" of the pandemic in some markets.
It now expects full-year revenue growth between 75% and 95%, up from between 55% and 70%. Adjusted Ebitda margin for 2020 is guided at between 9% and 11%, up from between 8% and 10%.
Write to Kim Richters at firstname.lastname@example.org