HelloFresh Q1 core earnings plunge as meal-kit demand falls

German food delivery company HelloFresh HFG said on Thursday its first-quarter core profits plunged as customers ordered fewer meal kits and the company ramped up spending on its fledging ready-meal business, but beat expectations.

Quarterly adjusted core profit (AEBITDA) came in at 16.8 million euros ($17.99 million), down sharply from 66.1 million in the same period last year. That was above analysts' average estimate of 3.6 million euros.

($1 = 0.9340 euros)