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May 10 2022, 07:00 IST/BST
HelloFresh SE
Conviction call… eating into the KPIs
- Companies : HelloFresh SE
DAVY VIEW
Inflation is here to stay, but the ‘consumer staple’ nature of HelloFresh (HFG) shapes it to outperform in relative terms through economic recession. We debunk the myths around grotesque levels of marketing spend, quantify observed levels of customer churn and expose HFG’s sector-leading and sustained profitability. As it sinks with the other ‘growth’ names, the entry point here is appealing.
