Veganz Group Unveils Impressive 2023 Annual Report

• Veganz Group AG published its annual report for 2023, which shows a 50% reduction in losses due to cost reduction measures and efficiency improvement programmes.
• The company saw a 6% growth in its core categories and opened a new production facility at the Veganz Food Factory Ludwigsfelde.
• Veganz successfully started production and market launch of Veganz Mililk and scaled its eCommerce to 100k sales within six months.
• Despite strategic product range adjustments, sales for Veganz Group AG declined to EUR 16.4 million from EUR 23.6 million in the previous year, while EBITDA improved by 49.2% to minus EUR 6.3 million.
• The company's Gross Profit Margin improved to 38.5% in 2023 from 32.4% in the previous year, and EBITDA losses were halved to minus EUR 6.3 million.
• Veganz expects a slight increase in sales in 2024 due to the expansion of in-house production and a slightly improved EBITDA compared to the previous year.

The next important date, Business Report 2023, at Veganz Group is on 10.05.2024.

The price of Veganz Group at the time of the news was 15,050EUR and was down -1,15 % compared with the previous day.

Veganz Group

-1,03 %

+8,73 %

+4,55 %

-27,07 %

+41,04 %

-82,92 %

ISIN:DE000A3E5ED2WKN:A3E5ED

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