Veganz Group AG
XETRA:VEZ
Veganz Group AG
Veganz Group AG engages in the development, production, marketing, and distribution of plant-based/vegan food products. The company is headquartered in Berlin, Berlin. The company went IPO on 2021-11-10. Veganz is sustainable, conscious and tasty at the same time. The firm has developed over 165 plant-based foods such as confectionery, snacks, baking aids, proteins, vegan meat and cheese alternatives to pizza. The products are available in more than 15,000 locations in 26 countries and inspire customers from Germany to China.
Veganz Group AG engages in the development, production, marketing, and distribution of plant-based/vegan food products. The company is headquartered in Berlin, Berlin. The company went IPO on 2021-11-10. Veganz is sustainable, conscious and tasty at the same time. The firm has developed over 165 plant-based foods such as confectionery, snacks, baking aids, proteins, vegan meat and cheese alternatives to pizza. The products are available in more than 15,000 locations in 26 countries and inspire customers from Germany to China.
Sales Decline: Revenue for the first 9 months of 2023 dropped to EUR 12.8 million from EUR 17.1 million as Veganz discontinued over 50% of its product assortment to focus on profitability.
Margin Improvement: Gross profit margin rose to 37.5% in Q3, a four-year high, reflecting a shift to in-house production and a more profitable product mix.
Reduced Losses: EBITDA loss improved to minus EUR 4.5 million, and net loss narrowed to EUR 6.1 million from minus EUR 9.9 million in the prior year period.
Strategic Shift: The company is prioritizing profitability and own production, expecting further margin improvement and targeting break-even in the coming months.
Mililk Launch: The new Mililk production facility is ramping up, with growing D2C, food service, and planned retail launches expected to drive future growth.
Guidance Updated: Guidance for 2023 was adjusted downward due to macroeconomic pressures and the strategic shift, but management anticipates strong like-for-like sales growth and sharply reduced EBITDA losses.
Financing Plans: Management is exploring capital increases and refinancing options ahead of a bond maturity in February 2025.
