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LR Global Reports $302 Million in 2023 Sales

BY DSN Staff Writer | March 11, 2024 | read / Daily News / Financial

LR Global Holding GmbH announced its financial results for the fourth quarter and full year 2023. Revenue in 2023 reached $302 million, a 2.6% increase over 2022 and within the company’s previously released guidance. EBITDA for the full year was $38.7 million. Fourth quarter 2023 revenue was $77.4 million, a 2.7% decline from the same period in 2022.

“The increase in sales and earnings in FY 2023 reflects the success of our initiatives to support the career development of our partners, as well as the expansion of our product portfolio in the health and beauty segment,” said Valdemaras Gordinskis, LR Group’s Vice President Global Controlling and Investor Relations. “Our strategic focus remains on supporting our partners with a strong 2024 agenda. We are working intensively on new product concepts and plan to launch both innovative new products and complementary products to our existing categories this year. In addition, we are digitizing our processes to provide our partners with all the information they need for their activities via our new digital platform: LR neo. At the same time, we continue to prioritize cross-sponsorship and international expansion, enabling our partners to extend their social selling beyond national boundaries.”

The company also successfully refinanced its 2021/2025 bond ahead of schedule and placed a senior secured bond with a volume of $142 million. This transaction is expected to generate $136 million, which will primarily be used for the 2021/2025 bond refinancing.

“We are very pleased with the successful placement of our New Bond and appreciate the strong interest and confidence shown by our investors,” said Dr Andreas Laabs, LR Health & Beauty SE CEO. “The early refinancing of our 2021/2025 bond and the related issuance of the New Bond provides us with the tailwind to continue to successfully execute our corporate strategy. In particular, we intend to focus on the launch of innovative new products and the continued digitalization of our business in order to best support our partners in their career development.”

Posted in Daily News, Financial and tagged Andreas Laabs, LR Global Holding, quarterly, Valdemaras Gordinskis.
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