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DGAP-News: Veganz Group AG / Key word(s): Annual Report
Veganz publishes Annual Report 2021
(Berlin, 31 May 2022) 2021 was another exciting and eventful year for Veganz Group AG (veganz.de), the only multi-category provider of vegan food in Europe: the Company managed to continue its growth despite the ongoing COVID-19 pandemic, thanks in particular to the systematic expansion of its distribution channels. In the process, Veganz improved both its product range and its market position, while also enhancing its innovative strength with highly promising projects and partnerships. In addition, the Company’s IPO created a solid foundation for the expansion of its own plant-based food production and established a firm financial footing for the business – while never losing sight of its commitment to climate and environmental protection. The overriding corporate objective remains: to motivate as many people as possible to adopt a plant-based diet and treat our environment responsibly. With this in mind, Veganz published its first non-financial report on environmental, social and governance (ESG) issues as part of the 2021 Annual Report – Good for you, better for everyone.
Although the ongoing COVID-19 pandemic had a negative impact on supply chains, Veganz was able to improve its gross profit margin to 30.7 percent (prior year: 29.9 percent) with targeted shifts in its product mix.
Despite the increase in sales, EBITDA of EUR -9.8 million was down on the previous year (prior year: EUR -3.2 million), mainly due to increased expenses for materials and personnel as well as significantly higher other operating expenses for funding measures in connection with the private placement and IPO. Adjusted for one-off expenses, especially for the private placement in June 2021 and the subsequent IPO, EBITDA amounted to EUR -5.5 million (prior year: EUR -2.1 million). As a result, the net loss for the year was also greater than in the previous year at EUR 13.3 million (prior year: net loss of EUR 4.9 million).
Equity amounted to EUR 27.0 million as of 31 December 2021 (prior year: EUR - million). With a balance sheet total of EUR 50.7 million (prior year: EUR 24.9 million), this corresponds to an equity ratio of 53 percent (prior year: - percent).
Additional distribution channel food service introduced
“Our partnerships in the new food service distribution channel are a further milestone on our path to sustainable growth,” says Jan Bredack, founder and CEO of Veganz Group AG. “This segment offers particularly strong potential to raise the visibility of the Veganz brand and integrate it more strongly into the everyday lives of climate and environmentally conscious consumers.”
In doing so, Veganz aims to expand the non-financial information it reports, not only to meet current expectations, but also to anticipate future ESG requirements and opportunities. In 2021, the Company already made good progress towards this objective and, for example, significantly reduced its own carbon footprint.
Veganz also has plenty in store for 2022 in terms of sustainability: for example, it plans to complete the B Corp certification as a responsible company, set itself clear climate targets and survey internal and external stakeholders as part of a materiality analysis to understand their sustainability priorities even better.
“We are currently experiencing a paradigm shift. Many people are realigning their nutritional compass according to ecological and ethical aspects,” says Alexandra Vázquez Bea, CFO of Veganz Group AG. “The successful IPO therefore offers us the opportunity to proactively exploit the opportunities opening up for us as a company with a sustainable business model in a growing future market.”
About Veganz Group AG
31.05.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
Veganz Group AG
Warschauer Straße 32
+49 (0)30 2936378 0
+49 (0)30 2936378 20
Regulated Unofficial Market in Berlin, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID:
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