HelloFresh : Q1 2026 Results Presentation

About this update from Hellofresh Se

Q1 2026 Results May 6th, 2026 1 Meal kits: Continued self-funded transformation into a profitable product category, anchored in high value customers Strategy over the past 12 months: ( Delivery on the efficiency reset Creating a step change in our customer proposition Transitioning to an ROI-led marketing strategy, at the expense of unprofitable volume In 1'26, a combination of better-quality conversions and accelerated product investments Positive impact on tenured customers: Order rate and AOV is up yoy RevenUe retention is improvin8 Too early to note enough momentum on new customer acquisition flywheel to offset natural churn Efficiency and pricing not enough to offset impact of front-end loaded product investments, inflation and volume-led operational deleveraging Q1 2026 | 3 RTE: Primary focus on re-establishing strong unit economics and sustainable FY profitability Achievements over the past 12 months: f6 Fixing quality fundamentals Improving unit economics Driving product excitement back up NPS1:+19 pps Highest since 2023 AEBITDA: +40% In EURm Actives: +DD % Tenured customers Focus going forward: Restarting the growth flywheel through Attracting high quality new customers at sound ROls Scale RTE International post Factor EU facility launch Continue to improve retention and frequency of tenured customers I "I *' I" ".' rTiCl I r "-." i-I' " ? • Fa' ' 1I -". ".'Ti"I Q1 2026 | 4 Q1 2026 Highlights: Revenue of EUR 1.7bn, - 7.7% in constant currency for the Group Meal kit revenue trajectory improved in cc for the fifth consecutive quarter. RTE revenue trend in cc roughly stable vs Q4 '25, in line with expectations Q1 2026 AEBITDA of EUR 23.6m, impacted by ~EUR 25m due to severe winter storms Contribution margin of 25.6%(1), down 1.4pp yoy, reflecting strategic product investments and temporary winter storms impact Positive FCF in Q1 2026, with better working capital partly offsetting lower AEBITDA and higher Capex FY 2026 outlook reconfirmed Revenue of EUR 1.7bn in Q1 2026, a decrease of (7.7%) in cc 2025 2026 Q1 Net Revenue (in € millions) MK RTE (12.9)% (15.0)% CC (8.5)% CC (6.9)% 1,349.6 1,175.4 547.8 465.9 Q1 '25 Q1 '26 Q1 '25 Q1 '26 Q1'26 cc revenue developed as anticipated 5th consecutive quarter of narrowing the revenue decline for MK Broadly stable decline in RTE The progress in meal kits is supported by stable revenue from tenured customers, hi...

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