In the first nine months of 2021, LR Group, the parent company of direct selling organization LR Health & Beauty, has achieved 7.1% growth in sales compared to the same time period in 2020. The sales increase was seen across all regions, equating to EUR 220.8 million.
“We successfully continued on our growth course in the first nine months of 2021,” said Dr. Andreas Laabs, CFO and COO of LR Global Holding GmbH. “Nevertheless, it has become apparent that consumer behavior has changed again this summer compared to the previous year in view of the advancing vaccination campaign and easing of restrictions by politicians. As expected, sales and earnings in the third quarter were lower than last year, after an exceptionally strong third quarter against the backdrop of the COVID-19 pandemic last year. All in all, we continued to develop very successfully even during the pandemic and are confident that we will even be able to achieve new record turnover in financial year 2021.”
In the next few weeks, LR Health and Beauty SE will be established as the new parent company of the LR Group, as a method to facilitate access to the capital market and promote future growth.
The previously published financial forecast is still considered correct, and the company continues to expect a slight increase in revenues. EBITDA is now expected between EUR 33 million and EUR 37 million for 2021.
