Efficiency Program Success
HelloFresh has made strong progress in its efficiency program, leading to a significant expansion of adjusted EBITDA and free cash flow. Adjusted EBITDA for Q2 was EUR 158 million, with a 15.8% margin for meal kits, and EBIT grew by 20% year-over-year to over EUR 100 million.
Contribution Margin Improvement
The contribution margin increased by 1.4 points to 27.3%, reaching a multiyear high, with North America seeing a 380 basis point improvement.
Share Buyback Program
The share buyback program has been upsized from EUR 75 million to EUR 175 million.
Free Cash Flow Growth
Free cash flow was up 4x in H1 2025 compared to the same period last year, with free cash flow per share increasing from EUR 0.30 to EUR 1.24.
Product Launch Initiatives
Major product upgrades for HelloFresh U.S. and Factor US have been launched, aimed at improving customer experience and paving the way for future growth.
Operational Improvements
Direct labor productivity improved in DCs and cooking operations, with a 19% year-over-year improvement in RTE and a 5% improvement in meal kits.