Hellofresh Se Ord (HLFFF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

This conference will be recorded. Good morning, ladies and gentlemen, and welcome to the HelloFresh SE H1 2025 results call. At this time, all participants have been placed on Ellison-only mode. The floor will be open for questions following the presentation. Let me now turn the floor over to your host, Dominik Richter. Ladies and gentlemen, thank you for joining our Q2 earnings call. The focus of today's call is on sharing color on our most recent quarter and also on providing an update on our efficiency program and on our product reinvestment strategy. Over the past 12 months, we've fixed a lot and done hard work on improving the underlying fundamentals of our business. fixing structured inefficiencies, rebuilding cost discipline, and simplifying our operating model. While we continue to be laser focused on that, we're now also starting to set our eyes toward a return to growth with some really exciting product launches and a comprehensive reinvestment strategy kicking off in H2. Before I share more on that, Let me start by quickly summarizing the highlights of our most recent quarter. We've made strong progress in executing our efficiency program, the major driver behind a significant expansion of adjusted EBITDA, adjusted EBIT and free cash flow. Much of that work, though not always visible externally to its full degree, was essential. It was not only cost cutting, but a structural reset of how we operate. The result in H1 and in Q2 specifically show that we are well on track with our strategy that temporarily emphasizes profits and margins over growth. Consequently, and in line with that strategy, revenues reduced by 9% year over year to 1.7 billion euro. Contribution margin, on the other hand, increased by 1.4 points to 27.3%, a multi-year high. This led to an ...