LR Global Holding GmbH announced its financial results for the second quarter and the first half of 2023. In Q2, the company’s sales were up 9.4% year over year to $74.8 million. EBITDA during the period was $8.25 million, an improvement over the previous year’s quarter.
In the first half of 2023, sales reached $152.96 million, compared to $142.76 million in the first half of 2022. EBITDA during the first half of 2023 improved by 12.2% to $16.83 million.
“Our impressive results in the first half of 2023 show that the strategic measures we have introduced are beginning to bear fruit and that we were able to achieve a predominantly strong performance despite the weaker consumer climate in our sales markets,” said Valdemaras Gordinskis, LR Group Vice President Global Controlling and Investor Relations. “With our introductory programs for newcomers, we have gained many additional partners who want to take advantage of the opportunities offered by a career with LR and build an attractive additional income for themselves. Furthermore, many existing partners have succeeded in further developing their careers. This has significantly contributed to the company’s success in the first half of 2023.”
LR Group launched in the UK in August 2023 as part of its international expansion strategy and announced plans for focusing on product development and marketing in the second half of 2023.