Hellofresh Se Ord (HLFFF) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen, and welcome to the HelloFresh SPQ1-2026 results. At this time, all participants have been placed on a listen-only mode. The floor will be open for questions following the presentation. Let me now turn the floor over to your host, Dominik Richter, CEO of HelloFresh. Good morning, ladies and gentlemen. Thank you for joining our Q1 2026 earnings call. Before my colleague Fabian takes you through our detailed financials, I want to spend a few minutes addressing our current standing, the progress we've achieved over the last 12 months, and what this first quarter reveals about our trajectory for the remainder of the year. To be direct, we are in the midst of a deliberate transformation of the business. This process involves clear trade, which are visible in our reported results today, but constitute a conscious choice to allow the business to be set up for long-term success. Over the past year, we've fundamentally overhauled our customer acquisition strategy, marketing spend, and product proposition. We've made the conscious choice to walk away from unprofitable volume, tightened our marketing ROI thresholds, and redirected capital from acquisition into product quality by restructuring our fixed cost base. None of this was accidental. It was a sequenced effort to fix the foundation, even if it comes with a near-term trade-off to reported growth. but will allow for better revenue quality in the long run. The central question is whether this logic is working. I believe the evidence is clear that it is, and we've seen success in those metrics that are most associated with the long-term health of the business. First, let's take a look at our Meerkits product segment. One year ago, Meerkat revenue was declining at roughly 14.5% in constant c...