LR Global Holding GmbH experienced a positive sales trend in the fourth quarter of 2022, continuing the sales growth established in Q3 2022. Sales in the fourth quarter reached $77.1 million, a 3.5% decrease from the company’s record sales in the same quarter of 2021. The launch of ZEITGARD Pro, which was the most successful product launch in company history, played a significant role in the strength of sales during this period.
CEO Dr. Andreas Laabs pointed to fourth quarter results and an expansion of the company’s management team in saying the company was “very well equipped for the current financial year.”
For the year, LR Group reached $285.3 million in 2022 sales with an EBITDA of $38.4 million.
“Business has noticeably picked up again in the second half of the year, and LR succeeded in almost returning to the exceptionally strong sales level reached in the year before,” said Valdemaras Gordinskis, LR Group Vice President Global Controlling and Investor Relations. “Given the high uncertainty in the macroeconomic environment worldwide and the resulting uncertainty with regard to the future business development, LR had considered an adjustment of the financial covenants for the 2021/2025 bond issued by LR Global Holding in August. However, based on the strong performance in the third and fourth quarters, this is no longer deemed necessary at the moment.”
