HelloFresh, the mail-order cooking box company $HFG (-6.83%) is facing a decline in sales due to weak demand. Dominik Richter's Management Board expects a sharper decline than for the Group as a whole, particularly in North America. Group revenue is forecast to fall by three to eight percent in 2023, while analysts were expecting an increase.
In the fourth quarter, HelloFresh was able to increase its operating profits despite a decline in revenue to 1.81 billion euros. Adjusted EBITDA climbed sharply to 164 million euros, an increase of 114 million euros. Nevertheless, the share fell by 9.7 percent to 9.08 euros in pre-market trading, marking its lowest level since October.
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