AS MADARA Cosmetics closes another quarter of revenue growth: 22% y-o-y Inside information, 2021-10-25 08:04 CEST --
During the third quarter of 2021, the consolidated (unaudited) turnover of the Company reached EUR 4.9 million, a 22% year-on-year increase. The consolidated (unaudited) turnover of the Company during the first 9 months of 2021 amounted to EUR 14.8 million, representing growth of 21% y-o-y.
Turnover in Latvia grew by 32% y-o-y; turnover in the European Union (excluding Latvia) increased by 17% y-o-y; turnover outside the European Union rose by 135% y-o-y (all figures for the third quarter of 2021). During the third quarter, we continued the development of the parent Company's direct e-commerce channels. The share of direct e-commerce soared to an all-time high of 48%, an increase of 18 percentage points compared to the corresponding period last year.
We are proud to announce the launch of a long-awaited make up product - mascara! The product development lasted for several years and was finalised during the third quarter. The mascara will be available for purchase internationally starting from October 26, 2021.
Management guidance for the turnover target of the Company for 2023 is EUR 27 million and remains unchanged.
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 was founded in 2006 and has become one of the leading manufacturers of cosmetics in Northern Europe and the leader in Latvia. The cosmetics brand MÁDARA represented by the company is a pioneer in the segment of natural beauty care and make-up cosmetics in Latvia. In 2016 and in 2017, the company ranked in the Top 10 of the Most Reputable Companies of Latvia. At the beginning of 2017, the limited liability company was transformed to a joint-stock company. Since November 2017, the company’s shares have been listed on the “Nasdaq Baltic” alternative market “First North”. The company has been awarded the European “Role Model” award of the “SME Star Awards 2018” organised by the European Parliament in Brussels for small and medium companies. In 2019, the company received the Excellence Award at Nasdaq Baltic Award 2019 and is one of the companies that rings the bell of the trading session on the Nasdaq Stock Exchange in New York. At the end of 2020, the idea of AS MADARA Cosmetics gained worldwide recognition and won the World Intellectual Property Organization (WIPO) award WIPO IP Enterprise Trophy. For more information, visit investors.madaracosmetics.com.
Contact information:
Address: 131 Zeltiņu Street, Mārupe district, Mārupe, LV 2167, Latvia
Contact person: Uldis Iltners, member of the Management Board
E-mail: uldis@madaracosmetics.com
Phone: +371 67 470 243
Certified advisor:
AS “LHV Pank”
Contact person: Ivars Bergmanis
E-mail: ivars.bergmanis@lhv.ee
Phone: +372 680 2720
|