MADARA Cosmetics AS publishes its unaudited interim report for the first six months of the financial year 2024. The consolidated turnover of the Group in the first half of 2024 reached EUR 11.21 million. This represents an increase of 9.0% compared to the same period last year and reflects a positive development trend and the ability to maintain a steady momentum. The Group's financial performance in the short term has been boosted by the sale of the MOSSA and SELFNAMED.COM brands, which are described in more detail in the Financial Indicators section of the report.

Taking into account the MOSSA and SELFNAMED.COM brand transactions, management has adjusted the minimum revenue guidance for 2024 to EUR 21.41 million, reflecting the updated base.

The financial report along with management report is available in the attachment (in English).

Management Board of AS “MADARA Cosmetics”

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

The Certified Adviser for AS Madara Cosmetics is ZAB Eversheds Sutherland Bitāns SIA.

AS MADARA Cosmetics was founded in 2006 and has become one of the leading cosmetics manufacturers in Northern Europe and a leader in Latvia. The company' s brand MÁDARA is a pioneer in the natural skincare and make-up segment in Latvia. Since November 2017, the company's shares have been listed on the Nasdaq Baltic alternative market First North. For more information, visit investors.madaracosmetics.com.