MARLEY SPOON GROUP ISSUES FY 2024 GUIDANCE

Marley Spoon Group SE (“Marley Spoon” or the “Company”), a leading global subscription-based meal kit provider, announces the release of its guidance for FY 2024.

Highlights:

• Full-year 2024 Guidance:
  • Single-digit net revenue growth vs. FY 2023 in constant currency
  • Contribution Margin in line with the prior year
  • Full-year mid-single-digit positive Operating EBITDA 

2024 OUTLOOK AND GUIDANCE 

Marley Spoon CFO, Jennifer Bernstein, commented, “2023 was a year that led to revenue decline due to various macro environments and a consolidation of the online grocery category after years of rapid growth. We expect that 2024 will be more stable, however, we do not expect that the category will resume its growth this year. 

Our organic and inorganic growth strategy will allow us, however, to increase scale and profitability as we continue our active participation in market consolidation. 

For the full year 2024, we are guiding to single-digit net revenue growth vs. the PCP.  At the same time after a year of strong margin expansion, we plan to deliver contribution margins in 2024 that are in line with the prior year. Our continued focus on operating in a disciplined way, paired with stable margin and conservative growth, gives us the confidence to guide to a mid-single-digit positive Operating EBITDA for 2024 on a full-year basis.”

2024 Guidance: 

• Single-digit net revenue growth vs. FY 2023 in constant currency
• Contribution Margin in line with the prior year
• Full-year mid-single-digit positive Operating EBITDA

Delisting of Marley Spoon SE from the ASX

As part of last year's move on to the Frankfurt Stock Exchange, in 2023 all Marley Spoon SE CDI holders were provided the option to either exchange their shares for Marley Spoon Group SE (MS1.DE) shares or to sell their CDIs through a public cash offer.  Today Marley Spoon Group SE holds more than 95% of all issued equity capital in Marley Spoon SE. As a next step in its previously announced goal to delist Marley Spoon SE CDIs from the Australian Securities Exchange, it is expected that all shareholders in Marley Spoon SE, including the 95% parent company Marley Spoon Group SE, will be voting on delisting the company aton its next AGM, which is expected to take place at the beginning of July 2024. 

Marley Spoon SE FY 2023 audited result

Marley Spoon SE, a 95% subsidiary of Marley Spoon Group SE, published today its audited FY 2023 results, which were in line with the preliminary FY results published on January 30th, 2024. 

About Marley Spoon Group

Marley Spoon Group SE is a global direct-to-consumer (DTC) meal-kit company. Our Vision is to “Build a better every day, just for you, just right”. We started Marley Spoon in 2014 to help our customers cook for their families and deal with their busy lives. We also felt there should be a more sustainable way to cook at home, reducing food waste that traditional supermarket supply chains generate. Marley Spoon currently operates various brands in three regions: Australia, the United States, and Europe (Austria, Belgium, Germany, and the Netherlands). Our meal-kit brands, Marley Spoon, Martha Stewart & Marley Spoon, and Dinnerly, bring pre-portioned fresh ingredients with tasty and simple recipes and other eating solutions reliably to our customers every week. Our customers just decide what to eat, and when to eat, and leave behind the hassle of grocery shopping. Chefgood and bistroMD are our direct-to-consumer ready-to-heat (RTH) services that offer premium-priced, high-quality, healthy, and nutritious RTH meals and eating solutions for our wellness and health-focused customers.

Disclaimer

This announcement constitutes neither an offer to sell nor a solicitation to buy securities. Certain statements contained in this release may constitute “forward-looking statements” that involve a number of risks and uncertainties. Forward-looking statements are generally identifiable by the use of the words “may”, “will”, “should”, “plan”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “project”, “goal” or “target” or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are based on assumptions, forecasts, estimates, projections, opinions or plans that are inherently subject to significant risks, as well as uncertainties and contingencies that are subject to change. No representation is made or will be made by Marley Spoon Group SE or any of their respective affiliates that any forward-looking statement will be achieved or will prove to be correct. The actual future business, financial position, results of operations and prospects may differ materially from those projected or forecast in the forward-looking statements. Neither Marley Spoon Group SE nor any of their respective affiliates assume any obligation to update, and do not expect to publicly update, or publicly revise, any forward-looking statements or other information contained in this release, whether as a result of new information, future events or otherwise, except as otherwise required by law.