May 5, 2020 / 4:59 AM / a month ago

HelloFresh raises 2020 outlook as lockdowns boost business

May 5(Reuters) - German meal-kit delivery firm HelloFresh raised its 2020 guidance on Tuesday, as continued coronavirus lockdowns boosted its first-quarter performance in the United States and other international markets.

The Berlin-based company, which allows customers to choose among online recipes and have pre-portioned ingredients delivered to their doorsteps, now expects revenue growth between 40% and 55% on a constant currency basis, up from a previously announced range of 22% to 27%.

Adjusted earnings before interest, taxes, depreciation and amortization (AEBITDA) margin should now come in between 6% to 10%, the company added. (Reporting by Linda Pasquini; Editing by Clarence Fernandez)

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