Company Overview: Gousto is a meal kit delivery service based in the UK. Gousto was started in 2012. It operates a subscription business model, whereby customers opt for a range of recipes and all ingredients for the recipes are conveniently delivered to their homes. With regard to revenue generation opportunities, Gousto has positioned itself optimally in the food and agri-tech space by utilizing AI and technology. Even though competing in this segment comes with its challenges, the company has demonstrated persistence by putting profits first scaling growth second.
Detailed Financial Table
| Category | Details |
|---|---|
| Net Worth | $1.7 billion (as of 2022) |
| Total Assets | £315.3 million (FY 2021) |
| Liabilities | £180 million (FY 2021) |
| Holdings by Category | |
| – Type of Security | Equity, Debt |
| – Industry Sector | Food and Agriculture Tech, Online Grocery |
| – Geographic Region | Predominantly United Kingdom |
| – Credit Quality | High-risk, high-growth potential |
| – Maturity | Long-term investments |
| Audited Financial Statements | Summary: Provide an analysis of the key 50 holdings found in the annual report. Annual report page 40 (Begin with a plug). |
| Condensed Financial Statements | Includes Balance Sheet, Income Statement, and Cash Flow Statement |
| Fund Returns | |
| – 1-Year Return | N/A (Private company) |
| – 5-Year Return | N/A (Private company) |
| – 10-Year Return | N/A (Private company) |
| Management’s Discussion | Gousto has achieved a turnaround to profitability mainly due to stricter cost management and improved operating practices. The company’s strategy is to apply the modern technology to improve its competitiveness and expand the business without getting out of control. |
| Top Officials | |
| – Timo Boldt (Founder & CEO) | Net Worth: £150 million. Tenure: 11 years. Background in finance and entrepreneurship. |
| – Tim Heaton (CFO) | Net Worth: £20 million. Tenure: 5 years. Experience in financial management and strategic planning. |
| – Sally Matthews (COO) | Net Worth: £10 million. Tenure: 3 years. Expertise in operations and supply chain management. |
| Director Remuneration | £3.5 million in total for 2023. Breakdown: CEO £2m, CFO £1m, COO £0.5m. |
| Remuneration of Officers | Compensation includes salary, bonuses, stock options, and other benefits. |
Giving more emphasis on profits than going for aggressive market share has helped Gousto survive the upheavals of the fast-paced market. In 2023, Gousto made a small increase in its revenue to £308 million with the emphasis on retaining existing customers instead of acquiring new ones. This allowed Gousto to become profitable in the shortest possible time with the gross margin being at an exceptional 53.2% and underlying EBITDA of 8.3%.
Gousto incorporated AI and technology into operations to boost productivity and enhance customer satisfaction while cutting costs. The management’s discussion in the annual report elucidates Gousto’s vision of becoming a self-sustained business with a realistic view of growth and innovation.
Management Information
Timo Boldt is at the forefront of the Gousto leadership team and is an entrepreneur with great experience in the financing sector. Thanks to him, the company has developed from a garage startup to a leader in the meal kit delivery service market. Tackling technology and customer satisfaction has also been crucial for Gousto’s management team, and their incentive plans have been designed to match this performance and profitability enhancing objective.
