Companies are currently suffering severely from the effects of the corona crisis – but the Berlin cookbox mail order company Hello Fresh is in full swing. This had absurd consequences on the stock exchange on Tuesday: The share of the Berlin start-up rose to a new record high and for the first time reached a market value of five billion euros. The young company thus exceeded the market value of Lufthansa, which is currently valued at just under four billion euros. The aviation group’s share had so far slumped by 40 percent in the wake of the corona crisis.
Hello Fresh is one of the few winners on the stock exchange in recent weeks. Since the start of the Coronacrash on February 24, the share price has risen by around 30 percent, thus continuing to soar. In the past twelve months, the plus has totaled 280 percent.
“The growth has accelerated considerably”
“Growth accelerated significantly further in the second half of March,” said Hello Fresh. The company expects sales of between € 685 million and € 710 million in the first quarter, two thirds more than a year earlier. Adjusted earnings before interest, taxes, depreciation and amortization (adjusted Ebitda) are expected to be between EUR 55 million and EUR 75 million, a year earlier the figure was EUR 26 million. For comparison: Lufthansa generated sales of 36.4 billion euros in 2019 and achieved a profit of two billion euros.
Hello Fresh recently expected strong growth. The company has not changed its last published forecast for the 2020 financial year. “The uncertainties caused by the Covid-19 pandemic and the resulting effects on the 2020 financial year cannot currently be reliably quantified,” the company said.
The Berlin start-up factory Rocket Internet had listed the company at the end of 2017, but has since separated itself from all of its shares.