Published: 2020-02-26 07:19:17 CET
MADARA Cosmetics
Interim information

AS MADARA Cosmetics Management Report on the Unaudited Financial Statements for 2019

Inside information, 2020-02-26 07:19 CET -- AS MADARA Cosmetics publishes its management report on the unaudited financial statements for 2019, which can be seen in the attachment below (in English). In 2019, the Company’s turnover has risen by 21%, reaching an all time high of EUR 11.5m.


The shares of Madara Cosmetics are admitted to trading on Nasdaq Baltic First North Market.

The Certified Adviser for AS Madara Cosmetics is AS LHV Pank.

MADARA Cosmetics, founded in 2006, is the local pioneer in the field of natural cosmetics. In 2016 and 2017 the company and its managers were ranked among the top-10 Most Admired Business Leaders in Latvia. MADARA develops and manufactures all products exclusively at its own laboratories and facilities to ensure 100% control over processes. Further evidence of its passion for quality and perfection in every detail are the company’s ECOCERT organic certification, GMP (ISO 22716:2007) standard, and in vitro and in vivo research. For more information, visit

         Contact information:
         Address: 131 Zeltiņu Street, Mārupe district, Mārupe, LV 2167, Latvia
         Contact person: Uldis Iltners, member of the Management Board
         Phone: +371 67 470 243
         Certified advisor:
         AS “LHV Pank”
         Contact person: Ivars Bergmanis
         Phone: +372 680 2720

AS MADARA Cosmetics unaudited management report 2019.pdf