A Spanish family wastes an average of approximately 65.5 kilograms or liters of food and beverages per year. Mostly fruit (30.9%) and vegetables (13%). These are the latest available data for 2022 that have recently been released, coinciding with a spike in grocery prices for months. In this context, Hellofresh, a leading provider of recipe kits, proudly touts having managed to adjust their food offerings so well over the past 10 years that their customers generate 72% less food waste than a typical family.
The formula with which they have taken ownership of this segment of the online food market – delivering a box with the exact ingredients per person and recipe to be cooked at home – yielded consolidated revenues of 7.6 billion euros in 2023, corresponding to 1 billion meals distributed worldwide. It has been the fifth consecutive year of growth for Hellofresh and the first in which Spain comes into the equation for the German company.
The company has closed 2023 with 448 million euros in EBITDA, a figure below the initial estimates that has caused it to fall in the stock market
“Ten years ago, we set out on a mission to change the way people eat forever,” says Marie-Anne Lambert Vellvé, Spain's co-CEO of HelloFresh, a global food solutions group founded in Berlin in 2011 and currently operating in 18 countries. Spain has been one of its latest additions, with the establishment of a logistics center in Madrid and the opening of offices in Barcelona, employing a staff of 55 people at these locations."
From both points, a still very incipient audience is being catered to, “but with great growth potential,” which invests around 65 euros on average per order. “We have a very diverse Spanish target clientele, ranging from 25 to 65 years old, including singles, couples, and families,” says Lambert Vellvé, who explains that they have multiple agreements with local companies to source fresh products and minimize waste in the supply chain, packaging, and shipping. “For every meal delivered, only a couple of grams of food are wasted in our facilities, and most of the unsold edible ingredients are donated to the Madrid Food Bank,” adds the director of Hellofresh.
Hellofresh managed the delivery of 1 billion meals last year
Opening up the market in Spain has been one of the fronts of an ambitious expansion plan by the home food delivery firm, which has also included the opening of two distribution centers in the United Kingdom and Germany, the strongholds of the group. With these investments, the company expects to continue growing globally by between 2% and 8% in 2024, although expectations are higher in Spain, as there is still a lot of room for growth.
Hellofresh is one of the companies that are part of the German MDAX stock market index, the German mid-cap stock market index. Although it announced its intentions to go public in 2015, just four years after its creation, it was not until 2017 that its initial public offering took place. Since then, the original idea of creating packs with the necessary amount of ingredients to prepare the recipes recommended by the company itself has only continued to grow. However, in recent months it has shown some volatility by presenting an EBITDA of 448 million euros, below what was initially expected by investors.
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