HelloFresh Slips After Big Slowdown in Growth Forecast for Next Year By Investing.com

HelloFresh Slips After Big Slowdown in Growth Forecast for Next Year

Stock Markets Dec 08, 2021 06:45AM ET

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HelloFresh Slips After Big Slowdown in Growth Forecast for Next Year

By Dhirendra Tripathi

Investing.com – HelloFresh stock (DE:HFGG) traded 6% lower in Germany as the company’s outlook for 2022 indicated a sharp slowdown in the growth it priced in during the pandemic.

The company said the outlook is “indicative only” but did not go into reasons behind its estimates.

Companies like HelloFresh (OTC:HLFFF), a meal-kit provider, saw record revenue growth during the pandemic as people stayed indoors and used online platforms for ordering food and groceries.

The appetite for online activities has waned as economies have reopened this year, causing it to give market share back to the restaurant business. This trend seems unlikely to be halted entirely by the threat from the new Omicron variant of Covid-19, despite the spread of fresh lockdown measures across the northern hemisphere.

HelloFresh expects revenue in the new financial year to grow between 20% and 26%, down from 57%-62% growth in for the current financial year. The company had raised its guidance for the ongoing year from 45%-55% only last month.

It now expects full-year adjusted EBITDA of $540 million at the midpoint of its guidance range.

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