Business Wire

LR Group Achieves Significant Revenue and Earnings Growth in Financial Year 2020

Share

LR Global Holding GmbH, a leading digital social selling company in the field of high-quality health and care products, published its annual report for 2020 today. According to the report, the LR Group was able to continue on its dynamic growth course in the past financial year despite the COVID-19 pandemic. For the full year 2020, the LR Group achieved record revenue of EUR 284.6 million (previous year: EUR 224.8 million), a significant increase of 26.7% compared to the previous year. At the same time, normalised earnings before interest, taxes, depreciation and amortisation (EBITDA normalised) increased from EUR 24.1 million to EUR 42.5 million. The considerable increase in earnings is essentially due to the extremely strong growth in revenue in 2020.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210429005776/en/

To view this piece of content from mms.businesswire.com, please give your consent at the top of this page.

LR Group Achieves Significant Revenue and Earnings Growth in Financial Year 2020 (Photo: Business Wire)

“We are very satisfied with how the business developed in 2020 and look back on by far the most successful year in the company’s 35-year history. By posting record sales, we increased our earnings disproportionately compared to 2019. Furthermore, we succeeded in expanding our digital social selling platform and further improving our structures. It is also important to consistently continue the innovation process in order to take current market trends into account and ensure a sustainably filled product pipeline. We are constantly expanding our portfolio with new health and beauty products, such as Aloe Vera Immune Plus or LR 5in1 Beauty Elixir most recently,” commented Dr Andreas Laabs, CFO and COO of LR Global Holding GmbH.

As a modern social selling partner, LR distributes over 300 products in the areas of health and beauty (nutritional supplements and cosmetics) via its partner community with currently more than 330,000 active sales partners and customers. The LR Group is active in 28 countries worldwide.

Positive outlook for financial year 2021

The management of the LR Group continues to expect a positive business development with stable growth for the current financial year 2021. The forecast is based on the assumption that the ongoing COVID-19 pandemic, the extent of which still cannot be fully assessed, will not have any significant impact on the LR Group’s business.

“We have gotten off to a good start in financial year 2021 and will consistently continue our strategic initiatives to develop LR into the leading digital social selling platform. As LR, we are increasingly reaching out to young target audiences who can build an attractive supplementary income or livelihood. We also cater to the increasing health awareness in the population in an ideal way with our product range. Against the backdrop of the pandemic and the continuing challenging market environment, we replenished our stocks accordingly at an early stage in order to ensure the ability to supply our products with a view to the projected growth in sales. We are also placing a stronger focus on the Asian region as part of our international expansion. We launched our business in South Korea in March and are now present on the market there with a select range of health and beauty products,” Laabs adds.

The complete 2020 Annual Report is available online as of today on the company’s website at https://www.lrworld.com/investorrelations.

LR Group

Under the motto “More quality for your life“, the LR Group with headquarters in Ahlen/Westphalia produces and markets various health and beauty products in around 28 countries. As a modern social selling platform, the company combines personal exchange between sales partners and customers with efficient, digital solutions. This expertise is particularly evident in the "LR Connect" app developed by LR itself, which supports the community in building and developing its business.

LR's goal is to improve people's well-being and health with its portfolio - consisting of care and decorative cosmetics, nutritional supplements and fragrances. That is why the company continuously develops new products – from the power of nature in combination with the latest scientific findings.

The processing of Aloe vera has been one of the core competencies of LR Health & Beauty for more than 18 years. Only the valuable inside of the leaf is used for the products. In Ahlen, the company has established the most modern Aloe Vera production site for Aloe Vera Drinking Gels in Europe. In the fragrance segment, LR cooperates with national and international stars such as Guido Maria Kretschmer, Bruce Willis, Emma Heming-Willis and Cristina Ferreira. LR has been firmly established in the market for over 35 years with around 1,200 employees and thousands of registered sales partners. LR also established the LR Global Kids Fund e.V. which provides efficient and unbureaucratic support for deprived children and their families in many different countries around the world in cooperation with local institutions.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

PR contact:
LR Global Holding
Almut Kellermeyer
Head of PR / Public Affairs
Phone: 02382 7060-106
E-mail: a.kellermeyer@LRworld.com
https://www.lrworld.com/investorrelations

IR contact:
cometis AG
Thorben Burbach
Phone: +49(0)611 - 205855-23
Fax: +49(0)611 - 205855-66
E-mail: burbach@cometis.de

About Business Wire

Business Wire
Business Wire



Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Altium Advances STEM Education with Expanded Curriculum and New Partnerships5.8.2021 09:00:00 CEST | Press release

In September 2020, Altium LLC, the leading printed circuit board (PCB) software company, launched Upverter Education, a free distance learning initiative to support STEM educators. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210805005356/en/ Start your school year right with Upverter Education, an award-winning electronics design curriculum. (Photo: Altium LLC) The free Electronics Design Essentials program was designed for high school STEM teachers covering everything from engineering to robotics, with guided courses, certification and Upverter, an easy-to-use web-based tool for electronics design. Rea Callender, Vice President of Altium Education, elaborates, “Through Altium’s education initiatives, beginning with Upverter Education, we are introducing students of all ages to electronics design and sparking passion in people where they never knew it existed. You can’t have a passion for something if you don’t know it ex

Servify's Massive Growth Leads to Expansion of Global Team with Key Hires Across Business Domains5.8.2021 07:30:00 CEST | Press release

Servify, a leading provider of Extended Care and Product Protection solutions using its global, AI-enabled, digital platform, has announced hiring of senior leaders across regions and functions to drive its global expansion. Arun Verma, MS Kalsi, Kevin Cundiff, Edward Lee, Swetha Prashant, Peter Duesing, Sanghoon (Sam) Kwon, Hussein Hussein and Sergey Odinets have all been hired to bolster various verticals and regions within the organisation. Arun Verma, with more than 20 years of experience, was appointed as the Chief Human Resources Officer. He has championed impressive success in people management across distinctly diverse industries such as Technology & Services, Finance, Management Consulting & FMCG. He worked as CHRO and Head of Administration of Beetel before Servify, and with the likes of Xerox India, McKinsey & Co., Reliance Capital Limited, and CavinKare in the past. Makhan Singh Kalsi, also known as M S Kalsi, joins Servify as its Chief Service Officer after previously serv

Vifor Pharma reports strong H1 2021 growth, on track to meet full year guidance 15.8.2021 07:00:00 CEST | Press release

Regulatory News: Vifor Pharma Group reported profitable revenue growth in H1 supported by a strong recovery in Ferinject® / Injectafer® with sales up 22.8% at CER as a result of improved patient access as COVID-19 restrictions eased in key markets. Based on the solid results in H1 2021, the Group is confident of achieving its full year guidance. FINANCIAL PERFORMANCE2: CONTINUED OVERALL GROWTH Reported net sales of CHF 859.3 million, up 1.5% (up 5.0% at CER) EBITDA of CHF 281.0 million, up 0.2% (up 5.3% at CER). Excluding other income, EBITDA increased 9.4% (up 15.0% at CER) Other income of CHF 20.4 million, down 51.7% due to lower income from partnering and other activities Gross profit margin of 62.5%, up 1.4 percentage points driven by higher share of sales from the iron portfolio Net profit attributable to shareholders of Vifor Pharma Ltd. of CHF 124.4 million, driven by lower depreciation, amortization and impairment, as well as the strong net financial result in H1 2021 Strong ba

Kyoto Semiconductor Co., Ltd. Launches New Photodiode Demonstrating Superior Performance With Semtech’s Linear Transimpedance Amplifier5.8.2021 07:00:00 CEST | Press release

Kyoto Semiconductor Co., Ltd. (President and CEO Tsuneo Takahashi, Head office: Fushimi-ku, Kyoto city), a leading optical device solution manufacturer with world-class technologies and Japanese quality, announced its collaboration with Semtech Corporation (Nasdaq: SMTC), a leading supplier of high performance analog and mixed-signal semiconductors and advanced algorithms. Kyoto Semiconductor has chosen to pair their new KP-A avalanche photodiode*1, KPDEA13C with Semtech’s GN1089 transimpedance amplifier*2 to enable long distance optical communication. "The pairing of Semtech’s transimpedance amplifier GN1089 with Kyoto Semiconductor’s KPDEA13C was ideal to optimize the performance,” said Tsuneo Takahashi, Kyoto Semiconductor president and CEO. “Through the joint collaboration, the KPDEA13C now includes a fast response suitable for a variety of optical needs.” Kyoto Semiconductor’s KPDEA13C is front side illuminated, highly sensitive and mounted on an interposer board for ease of assem

Thales Partners with DAS in Fully Supporting Hong Kong International Airport's Three-Runway System Expansion Project5.8.2021 04:00:00 CEST | Press release

Thales and Dah Chong Hong – Dragonair Airport GSE Service Ltd. (DAS) announced that they have been selected by the Civil Aviation Department (CAD) of the Hong Kong Special Administrative Region Government through global open tender exercise to deploy the new Instrument Landing System (ILS) and to support the Three-runway System (3RS) expansion project at the Hong Kong International Airport (HKIA). This leading solution will largely help HKIA further improve the capacity and efficiency of aircraft landing while maintaining the highest standard of flight safety. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210804005024/en/ © Hong Kong International Airport The six sets of new ILS to be installed at the HKIA under 3RS will make use of Thales state-of-the-art technologies. The new ultra-wide aperture localizer array with 32-element localizer antenna will provide highly accurate guidance signals to aircraft approaching and land

Northleaf Expands Business Development Team With the Addition of Chris O’Connor as a Managing Director for Australia and New Zealand5.8.2021 02:00:00 CEST | Press release

Northleaf Capital Partners (Northleaf) is pleased to announce the appointment of Chris O’Connor as Managing Director, Business Development, Australia and New Zealand. In this new role, Chris will lead Northleaf’s business development and investor relations activities and further develop relationships with institutional investors, consultants and advisors in the region. Chris joins Northleaf’s existing Melbourne-based investment team, extending the firm’s ongoing commitment to private markets activities in Australia and New Zealand. “We are thrilled to welcome Chris to the Northleaf team as our first Australia-based business development executive,” said Jeff Pentland, Managing Director and Head of Business Development at Northleaf. “Chris brings expertise in both relationship building and consultative fundraising, enhancing our capabilities to provide investors with access to highly differentiated mid-market infrastructure, private equity and private credit investments globally.” Prior

Australian Small Businesses Need Greater Access to Finance, According to Taulia5.8.2021 00:00:00 CEST | Press release

Small businesses in Australia continue to unnecessarily struggle when accessing affordable finance and deserve greater options, according to Taulia, the leading fintech provider of working capital solutions. In a new paper, Taulia has outlined the multiple challenges facing Australian small businesses - who often act as suppliers to large local and international businesses - regarding access to finance. Small businesses are the driving force behind Australia’s economy, accounting for 35% of GDP and 44% of employment, but the Reserve Bank of Australia’s analysis of the COVID-19 pandemic shows that lending to these smaller firms has been relatively flat since January 2019. Taulia attributes this ongoing lack of finance to five key causes: The long-term challenge small businesses have had in accessing finance, particularly from traditional banking sources Fewer resources within small businesses dedicated to understanding liquidity risk and cash flow, which can mean they only realise their

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom