Hellofresh reports doubled sales and profit in the millions

Thanks to the coronavirus pandemic, the Berlin-based meal kit delivery service has reported record figures for 2020. However, the long-term nature of the boom remains questionable.

Cooking box delivery service Hellofresh has presented its business figures for the past year. Unsurprisingly, the company benefited from the coronavirus pandemic and presented a strong result.

The Berlin-based company increased its turnover to 3.75 billion euros, an increase of 111 percent. The fourth quarter alone accounted for 1.1 billion euros of this, making it the strongest quarter in the company's history. Profit before taxes amounted to 395.8 million euros in 2020. In the previous year, Hellofresh had made a loss of 5.3 million euros.

The share price of the MDax company nevertheless fell by a few percent on Tuesday, as investors are apparently unsure whether the positive development will continue in view of a possible slowdown in the pandemic over the course of the year. Since the outbreak of the health crisis, the share price has already tripled, with a Hellofresh share currently trading at just over 64 euros.