LR Group released its 2020 annual report, indicating a 26.7% increase in total revenue over the previous year, reaching EUR 224.8 million. The company’s EBITDA also increased from EUR 24.1 million to EUR 42.5 million, due to strong revenue growth in 2020.
“We are very satisfied with how the business developed in 2020 and look back on by far the most successful year in the company’s 35-year history,” said Dr Andreas Laabs, CFO and COO of LR Global Holding GmbH. “By posting record sales, we increased our earnings disproportionately compared to 2019. Furthermore, we succeeded in expanding our digital social selling platform and further improving our structures. It is also important to consistently continue the innovation process in order to take current market trends into account and ensure a sustainably filled product pipeline. We are constantly expanding our portfolio with new health and beauty products, such as Aloe Vera Immune Plus or LR 5in1 Beauty Elixir most recently.”
The company’s 2020 revenue totals broke company records and LR Group’s management is expecting stable growth to continue in 2021.
“We have gotten off to a good start in financial year 2021 and will consistently continue our strategic initiatives to develop LR into the leading digital social selling platform,” said Laabs. “As LR, we are increasingly reaching out to young target audiences who can build an attractive supplementary income or livelihood. We also cater to the increasing health awareness in the population in an ideal way with our product range. Against the backdrop of the pandemic and the continuing challenging market environment, we replenished our stocks accordingly at an early stage in order to ensure the ability to supply our products with a view to the projected growth in sales. We are also placing a stronger focus on the Asian region as part of our international expansion. We launched our business in South Korea in March and are now present on the market there with a select range of health and beauty products.”