Looks pretty average at best... Hellofresh launched in NZ just a few years ago and has smashed MyFoodBag aside (already having $194m revenue in FY20 compared to MyFoodBag at $153.3m - no growth on FY19). Looks like a nice pump for FY21 numbers to try make IPO look better... but the numbers have confirmed growth story is a ??? that is for sure.
The way they've named/referred to the senior leadership team might make some a bit more excited I suppose
Last edited by trader_jackson; 11-02-2021 at 03:58 PM.
Looks pretty average at best... Hellofresh launched in NZ just a few years ago and has smashed MyFoodBag aside (already having $194m revenue in FY20 compared to MyFoodBag at $153.3m - no growth on FY19). Looks like a nice pump for FY21 numbers to try make IPO look better... but the numbers have confirmed growth story is a ??? that is for sure.
The way they've named/referred to the senior leadership team might make some a bit more excited I suppose
Pretty much how I see it too. Very little growth until Covid came along and some extra people started ordering because they were too scared to go out and source food themselves.
Projecting a similar level of sales in FY22 as to Covid boosted FY21 looks "very optimistic" at best and priced at 22 times what appears to be a very creative forecast of eps for FY22. Hardly looks like a "banquet" opportunity to tuck into, in my opinion. Maybe more like "fine dining" when you eat but go home and are still hungry.
Last edited by Beagle; 11-02-2021 at 06:15 PM.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
And being marketed very heavily to unsophisticated "investors" (mums and dads) who may not have bought a share in their life. Hope they don't get burned.
In fact, to be eligible to participate, we got a notice (as former customers) that we had to have ordered in the last 60 days.
A PE guy once told me most advances made to them to buy businesses get laughed out the door (metaphorically) ....or if they show promise screw the price to hell.
If somebody fronted up to Waterman with a glossy brochure like the current MFB one they’d probably be laughed out the door
Last edited by winner69; 11-02-2021 at 06:33 PM.
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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Originally Posted by winner69
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