Veganz Group AG Adjusts 2024 Forecast Amid Sales Decline

Veganz Group AG has announced the need to adjust its 2024 annual forecast due to a decline in sales attributed to product range adjustments and limited production capacity. Deliberate adjustments in the core portfolio and high investment costs in production expansion have negatively impacted the company's business outlook.

The company now anticipates a significant decline in sales for the financial year 2024, as opposed to its previous expectation of surpassing last year’s level. EBITDA is also expected to be significantly lower compared to the previous year, where it stood at EUR -6.3 million.

To address these challenges, Veganz has initiated key measures focusing on cost savings, efficiency, and financing. A new cost structure across all areas, efficiency measures to increase profitability, and additional financing measures are currently being implemented.

Veganz will publish its half-year report on September 26, 2024, providing further insights into its financial performance.