LR Health & Beauty SE announced its financial results for the second quarter of 2024, reporting sales of $78 million, a 2.6% increase from the previous year’s quarter. With these results, the company achieved $158 million in sales for the first half of the year, citing its new product launches, including the LR Health Mission and the LR Body Mission, as significant contributors to its positive sales performance.
The company’s EBITDA for the first half of the year was $15.9 million, down from $19.3 million in the first half of 2023.
“We will continue to consistently execute our corporate strategy in the second half of the year,” said Dr Andreas Laabs, LR Health & Beauty SE CEO. “In particular, we will drive our initiatives to optimize our marketing activities and our partner programs. At the same time, expanding our innovative product range remains high on our agenda. A new product segment is planned to be launched at the LR Business Day event with our partners in September. We are confident that the new products will be an ideal addition to our range and will open up new and attractive opportunities for our partners.”
The company expects its new IT hub in Athens to support its future growth, continued digitization and expansion of its IT landscape. The IT hub will provide the company with in-house IT services and will develop and operate the company’s social commerce business applications.
Based on its growth opportunities mixed with what it calls “ongoing customer reticence” and a challenging market environment, the company expects sales to remain stable or slightly lower than the previous year.
