Gousto, a recipe box provider, has posted record sales for 2020 of £189m, up 129% on its previous year.
Delivering underlying EBITDA of £18.2m, (2019: loss -£9.1m), Gousto achieved its first full year of profitability since launch.
The compnay says strong growth has continued into 2021, with over 25 million meals sold in Q1 alone.
Gousto has also reduced plastic in its boxes by 50% in 2020 and by 2022 all Gousto own-brand packaging will be either recyclable, reusable or compostable.
The owners of the business also say that they will reinvest the cash it generates for the long-term; to improve the customer experience and increase its share of the grocery market.
Gousto also doubled its capacity in 2020, investing in its existing fulfilment centre in Lincolnshire and adding a second automated factory in December.
Gousto plans to double capacity again by the end of 2022, adding two further fulfilment centres in Essex and Cheshire to meet accelerating demand.
This growth has been accompanied by significant investment into people, particularly tech resource, with total headcount rising from 500 to 1,000 in 2020, and plans to reach 2,000 by 2022.
Timo Boldt, Founder & CEO of Gousto, comments: “2020 was a transformational year, but we’re only scratching the surface of the huge opportunity ahead. 500 million evening meals8 are eaten each week in the UK and 76% of people cook from scratch9
“Gousto is working to unbundle the evening meal from the traditional grocery supply chain. We use software to upgrade both the supply chain and the customer experience of cooking from scratch, while riding the permanent structural shift from offline to online.”