Hellofresh Se Ord (HLFFF) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen. I'm here today with Christian, our CFO, to present the Q1 earnings and provide some context on our recent financials. After deep diving on our strategy for 2025 and 2026, on our recent capital markets day in late March, we'll try to keep the strategic updates brief today and focus on the financial performance in Q1, as well as our outlook for the remainder of the year. What is worth re-emphasizing though are the two objectives that we're laser focused on right now as a company. Firstly, deliver on our efficiency program and secondly, create a step change in our customer offerings so we can expand the total addressable market that we go after and eventually return to a multi-year growth trajectory. This includes both meal kits and RTE. Even though they are at very different stages of growth, we strongly believe that a much improved customer offering will pave the road to predictable and sustainable mid-term growth and a continuously larger TAM to go after for our two strong consumer brands. Executing on our efficiency program is critical for both short-term and long-term success. It's our deliberate strategy to emphasize profits and cash flow generation over volume growth this year. We had seen the painful decline of our EBITDA, but also of our free cash flow for three years in a row. And it's important to turn this around in 2025 by right-sizing our fixed costs, improving our unit economics, and returning to a best-in-class financial profile. This will free up the funds and investments required to self-finance the massive improvements we plan for our customer offerings and to diverse into additional product groups more forcefully. The success of our efficiency program is crucial to eventually return to growth at the right unit econ...