Turnover of MyMuesli grows to 80 million euros

Despite the pandemic, the cereal maker is growing, thanks in particular to its booming online business. MyMuesli has almost one million customers online.

The Passau-based start-up MyMuesli increased its turnover by 15 percent to 80.3 million euros last year. EBITDA more than tripled to five million euros. This means that MyMuesli is now profitable. The start-up now does more than two-thirds of its business online. The customer base also grew by 27 percent in 2020, to now 989,000 active online customers.

"The strong online performance in 2020 underlines the enormous potential of our unique business model," says Hubertus Bessau, CEO and co-founder of MyMuesli. "We have realigned our business to pursue a clear online-first strategy."

In February this year, MyMuesli decided to abandon almost all of its own retail stores and to continue operating only three out of 23 stores. "We believe MyMuesli is one of the pioneers in individualized food," said Franky Das, CFO of the Passau-based company. "Supported by our data-driven, customer-centric approach, we will continue to focus on empowering our customers to eat for themselves."

MyMuesli is also planning an IPO. The startup plans to issue shares no later than the fall. MyMuesli was founded in 2007 and is active in six other European countries in addition to Germany, Austria and Switzerland. The start-up sells customizable muesli mixes.