LR Group reported its full year financial report for 2021, announcing EBITDA at the upper end of its earnings forecast and a 4% increase in group sales.
The company prepared for future growth by strengthening its capital market capability and establishing LR Health & Beauty SE as the new parent company of the LR Group. Equity capitalization was also significantly improved by reclassifying the shareholder loan as a contribution to the free capital reserve.
The company is continuing its investment strategies in the digitalization of its business model to better serve its youngest target audiences. The brand’s new LR Connect App, Report Creator, internal social intranet and the Logistics 4.0 project are all components of the company’s digital push.
“The LR Group developed successfully and further strengthened its market position in 2021,” said Dr Andreas Laabs, LR Global Holding GmbH CFO and COO. “This is reflected not least in the record sales achieved in 2021. Despite the tense situation on the procurement market, we were always able to meet the increased demand for our products. We will continue to pay special attention to forward-looking management of our inventories in view of the disrupted supply chains. On the product side, with the launch of the LR Soul of Nature brand, we managed to expand our portfolio to include a select range of natural essential fragrance blends.”