Corporate News
LR Health & Beauty SE confirms growth trend in the second quarter of 2024
LR Health & Beauty SE confirms growth trend in the second quarter of 2024
- Sales increased to EUR 143.3 million in the first half of 2024
- Normalized EBITDA of EUR 14.4 million
- Rising demand for subscription concepts like the successful LR Health Mission
- Growth prospects strengthened by innovative product range and planned launch of a new product segment in September
Ahlen, 30 August 2024 – LR Health & Beauty SE, Europe’s leading digital social commerce company in the area of high-quality health and beauty products, today published its figures for the second quarter of 2024 and the first half of 2024. In the second quarter of financial year 2024, LR Health & Beauty SE managed to increase sales (revenue from goods sold) by 2.6% to EUR 70.7 million (Q2 2023*: EUR 68.9 million). In the first half of the year, LR Health & Beauty SE thus generated sales of EUR 143.3 million (H1 2023*: EUR 140.9 million). New product launches, such as the LR Health Mission and the LR Body Mission, contributed significantly to the positive sales performance during the period.
Furthermore, LR Health & Beauty SE generated a normalized EBITDA of EUR 14.4 million in the first six months of financial year 2024, compared to EUR 17.5 million in the same period of the previous year*. The earnings performance was impacted by factors such as refinancing costs related to the early redemption of the old bond of LR Global Holding GmbH and the issuance of a New Bond by LR Health & Beauty SE, as well as negative currency effects. EBITDA reported amounted to EUR 11.7 million in the first half of 2024, compared to EUR 15.4 million in the same period of the previous year*.
Valdemaras Gordinskis, Vice President Global Controlling and Investor Relations of the LR Group, comments: “The LR Group’s business development has been very robust in the first half of the year and we have managed to achieve growth despite general consumer reticence in all of our regions. We are also pleased to see that our subscription concepts attract increasing interest. This is evidenced, for example, by the strong demand for the LR Health Mission with its novel product range. With this subscription, we offer those interested a 6 months treatment for the intestinal, liver and cellular metabolism, providing a comprehensive solution for personal health support.”
Future growth driven by digitization and IT expansion
LR Health & Beauty SE’s CEO Dr Andreas Laabs explains: “We will continue to consistently execute our corporate strategy in the second half of the year. 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.”
Another important pillar for future growth is the continued digitization and expansion of the IT landscape. For this purpose, the LR Group will establish a new IT hub in Athens in order to provide high-quality IT services in-house and to develop and operate suitable business applications for social commerce.
LR Health & Beauty SE expects that it will continue to be in a position to capitalize on growth opportunities in the health and beauty markets. At the same time, the LR Group continues to face a challenging market environment and ongoing consumer reticence. Based on conservative assumptions, LR continues to expect sales at the previous year’s level and an only slightly lower or stable EBITDA for the 2024 financial year.
The full report for the first half of financial year 2024 is available online from today on the company website at https://ir.lrworld.com/.
*As issuer of the New Bond 2024/2028, LR Health & Beauty SE publishes the figures for the second quarter and the first half of financial year 2024 and for the relevant periods in the previous year. The previous year’s figures for 2023 may differ from the figures for 2023 published previously by LR Global Holding GmbH.
LR Group
Following the motto "More quality for your life" the LR Group with headquarters in Ahlen/Westphalia successfully produces and markets various high-quality nutritional supplements and cosmetic products in 32 countries. As an attractive social commerce company, LR supports the personal exchange in its community with efficient, digital solutions. The holistic tool "LR neo" offers the international partnership all business-relevant key figures and information for their LR business in one dashboard.
LR has been firmly established on the market since 1985 as a "people business" company that focuses on people and personal advice. In times of changing working environments, the business model particularly appeals to those who are looking for more flexibility, a better work-life balance and greater financial independence.
The processing of Aloe Vera has been one of the core competencies of LR for more than 20 years. Only the valuable inside of the leaf is used for the products. In Ahlen, the company has established one of the most modern Aloe Vera production sites for Aloe Vera Drinking Gels in Europe.
In autumn 2009, LR founded the LR Global Kids Fund e.V., which supports deprived children and their families in many countries around the world efficiently and unbureaucratically in cooperation with local institutions. For further information on our commitment to sustainability, please read our sustainability report.
LR currently has around 1,200 employees and hundreds of thousands of registered community members.
Your Contacts:
PR Contact:
LR Health & Beauty SE
Almut Kellermeyer
Head of Corporate Communication
Kruppstraße 55
59227 Ahlen
Phone: +49(0)2382 7813-106
E-Mail: a.kellermeyer@LRworld.com
https://ir.lrworld.com/
IR Contact:
cometis AG
Thorben Burbach
Unter den Eichen 7 | Gebäude D
65195 Wiesbaden
Phone: +49(0)611 - 205855-23
Fax: +49(0)611 - 205855-66
E-Mail: burbach@cometis.de
LR Global Holding GmbH announces successful refinancing of its 2021/2025 bond and confirms strong sales and earnings figures for 2023
LR Global Holding GmbH announces successful refinancing of its 2021/2025 bond and confirms strong sales and earnings figures for 2023
- Early refinancing of 2021/2025 bond in view of successful placement of New Bond with a volume of EUR 130 million by parent company LR Health & Beauty SE
- Sales grew to EUR 276.5 million and EBITDA reported reached EUR 31.5 million in line with sales and earnings guidance for 2023
- Further expansion of innovative product portfolio planned with promising new launches
Ahlen, 29 February 2024 – LR Global Holding GmbH, Europe’s leading digital social selling platform in the area of high-quality health and beauty products, has successfully refinanced its 2021/2025 bond ahead of schedule, creating a foundation for a successful future business development. The parent company LR Health & Beauty SE has successfully placed a senior secured bond (ISIN NO0013149658) with a nominal volume of EUR 130 million, which is expected to generate proceeds of around EUR 125 million. The proceeds of this transaction will primarily be used for the refinancing of the 2021/2025 bond. The successful business development of the LR Group since its entry into the capital market is also reflected in its business figures. The LR Global Holding GmbH today released its Q4 2023 figures and confirmed its preliminary sales and earnings figures for the full year 2023, which exceed the previous year’s results.
“We are very pleased with the successful placement of our New Bond and appreciate the strong interest and confidence shown by our investors. 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 digitalisation of our business in order to best support our partners in their career development,” Dr Andreas Laabs, CEO of LR Health & Beauty SE, explains.
The LR Group was able to close the financial year 2023 with strong figures. Its sales (revenue from goods sold) amounted to EUR 70.9 million in Q4 2024 (Q4 2022: EUR 72.8 million), which is just 2.7% below the previous year’s figure despite adverse currency effects. FY 2023 sales of the LR Group thus amounted to EUR 276.5 million (FY 2022: EUR 269.4 million). This corresponds to an increase of 2.6% and is within the guidance range for 2023 of EUR 275 to 280 million.
In addition, the LR Group achieved a EBITDA reported of EUR 8.9 million in Q4 2023, compared to EUR 12.8 million in the previous year’s quarter, which had benefited from extraordinary effects. FY 2023 EBITDA reported amounted to EUR 31.5 million, slightly above the previous year’s level of EUR 31.3. million. The normalized EBITDA, however, fell from EUR 13.8 million in Q4 2022 to EUR 10.1 million in Q4 2023, as the previous year’s quarter had benefited from extraordinary effects. Normalized EBITDA for the full year 2023 thus amounted to EUR 35.5 million (FY 2022: EUR 36.3 million).
Valdemaras Gordinskis, LR Group’s Vice President Global Controlling and Investor Relations, comments: “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. 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 digitising 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 prioritise cross-sponsorship and international expansion, enabling our partners to extend their social selling beyond national boundaries.”
The report on the fourth quarter of 2023 is available from today on the company website https://ir.lrworld.com/. The final, audited figures for financial year 2023 will be published together with the Annual Report on the company website at the end of April 2024.
LR Group
Following the motto "More quality for your life" the LR Group with headquarters in Ahlen/Westphalia successfully produces and markets various high-quality health and beauty products in 32 countries. As an attractive social selling company, LR supports the personal exchange in its community with efficient, digital solutions. The holistic tool "LR neo" offers the international partnership all business-relevant key figures and information for their LR business in one dashboard.
LR has been firmly established on the market since 1985 as a "people business" company that focuses on people and personal advice. In times of changing working environments, the business model particularly appeals to those who are looking for more flexibility, a better work-life balance and greater financial independence.
The processing of Aloe Vera has been one of the core competencies of LR for more than 20 years. Only the valuable inside of the leaf is used for the products. In Ahlen, the company has established one of the most modern Aloe Vera production sites for Aloe Vera Drinking Gels in Europe.
In autumn 2009, LR founded the LR Global Kids Fund e.V., which supports deprived children and their families in many countries around the world efficiently and unbureaucratically in cooperation with local institutions. For further information on our commitment to sustainability, please read our sustainability report.
LR currently has around 1,200 employees and hundreds of thousands of registered community members.
Your Contacts:
PR Contact:
LR Global Holding
Almut Kellermeyer
Head of PR / Public Affairs
Kruppstraße 55
59227 Ahlen
Phone: +49(0)2382 7060-106
E-Mail: a.kellermeyer@LRworld.com
https://ir.lrworld.com/
IR Contact:
cometis AG
Thorben Burbach
Unter den Eichen 7 | Gebäude D
65195 Wiesbaden
Phone: +49(0)611 - 205855-23
Fax: +49(0)611 - 205855-66
E-Mail: burbach@cometis.de
LR Health & Beauty SE delivers good start into the 2024 financial year
LR Health & Beauty SE delivers good start into the 2024 financial year
- Sales of EUR 72.6 million in the first quarter of 2024
- Normalised EBITDA of EUR 7.8 million
- Focus on further expansion of innovative product range
- Digital initiatives progressing successfully
Ahlen, 28 May 2024 – LR Health & Beauty SE, Europe’s leading digital social selling company in the area of high-quality health and beauty products, today published its figures for the first quarter of 2024, according to which LR Health & Beauty SE generated sales (revenue from goods sold) of EUR 72.6 million (2022*: EUR 72.0 million). Despite unfavourable currency effects, the company thus achieved a slight increase in sales of around 0.8% compared to the first quarter of the previous year.
In terms of earnings, LR Health & Beauty SE generated normalised EBITDA of EUR 7.8 million in the first three months of 2024, compared to EUR 8.7 million in the same period of the previous year. Earnings were impacted by the refinancing costs associated with the early redemption of the old bond of LR Global Holding GmbH and the issue of the new bond of LR Health & Beauty SE. EBITDA reported in the first quarter of 2024 was EUR 6.1 million, compared to EUR 7.8 million in the first quarter of 2023.
Valdemaras Gordinskis, Vice President Global Controlling and Investor Relations of the LR Group, comments: “All in all, LR has made a good start into the year 2024 and has achieved a sound performance in the important markets of Western and Eastern Europe. New product launches from previous periods, in particular the innovative BODY MISSION, made a significant contribution to growth in the first quarter. The success of our latest product launches once again validates our strategy.”
Integrating AI to streamline social selling processes
Dr Andreas Laabs, CEO of LR Health & Beauty SE, explains: “In 2024, we will continue to focus on the further digitalisation of our company and the use of innovative technologies to further optimise our business processes. We also strive to provide our partners with the best possible sales support through new product innovations. Our pipeline for this year includes both new products and seasonal sales promotions such as ‘Crazy Summer’. We’re also preparing the launch of a new product segment for the autumn of 2024, which will perfectly complement our product offering.”
LR is placing great focus on the further digitalisation of its business processes. For example, through the Group’s digital platform LR neo, partners can now access a wide range of information relevant to their sales activities. The company has also developed its own chatbot: “LR-Vera” is designed to support efficient customer service. The chatbot enables customer service centre staff to access a centralised knowledge pool that facilitates quick and comprehensive answers.
Outlook 2024
LR Health & Beauty SE expects that it will continue to capitalise on the growth opportunities in the Health & Beauty segments and sees this confirmed by a further increase in momentum in the second quarter of the year. Based on conservative assumptions, LR continues to expect sales at the previous year’s level and an only slightly lower or stable EBITDA for the 2024 financial year.
The full report for the first quarter of 2024 is available online from today on the company website at https://ir.lrworld.com/
*As issuer of the New Bond 2024/2028, LR Health & Beauty SE discloses the figures for the first quarter of 2024 and for the first quarter of the previous year 2023. The previous year’s figures for 2023 may differ from the figures for 2023 disclosed previously by LR Global Holding GmbH.
LR Group
Following the motto "More quality for your life" the LR Group with headquarters in Ahlen/Westphalia successfully produces and markets various high-quality health and beauty products in 32 countries. As an attractive social selling company, LR supports the personal exchange in its community with efficient, digital solutions. The holistic tool "LR neo" offers the international partnership all business-relevant key figures and information for their LR business in one dashboard.
LR has been firmly established on the market since 1985 as a "people business" company that focuses on people and personal advice. In times of changing working environments, the business model particularly appeals to those who are looking for more flexibility, a better work-life balance and greater financial independence.
The processing of Aloe Vera has been one of the core competencies of LR for more than 20 years. Only the valuable inside of the leaf is used for the products. In Ahlen, the company has established one of the most modern Aloe Vera production sites for Aloe Vera Drinking Gels in Europe.
In autumn 2009, LR founded the LR Global Kids Fund e.V., which supports deprived children and their families in many countries around the world efficiently and unbureaucratically in cooperation with local institutions. For further information on our commitment to sustainability, please read our sustainability report.
LR currently has around 1,200 employees and hundreds of thousands of registered community members.
Your Contacts:
PR Contact:
LR Health & Beauty SE
Almut Kellermeyer
Head of Corporate Communication
Kruppstraße 55
59227 Ahlen
Phone: +49(0)2382 7813-106
E-Mail: a.kellermeyer@LRworld.com
https://ir.lrworld.com/
IR Contact:
cometis AG
Thorben Burbach
Unter den Eichen 7 | Gebäude D
65195 Wiesbaden
Phone: +49(0)611 - 205855-23
Fax: +49(0)611 - 205855-66
E-Mail: burbach@cometis.de
Ad-hoc Announcements
LR GLOBAL HOLDING GMBH GIVES NOTICE OF CONDITIONAL VOLUNTARY TOTAL REDEMPTION OF ITS OUTSTANDING 2021/2025 BONDS AND LR HEALTH & BEAUTY SE ISSUES NEW SENIOR SECURED BONDS OF EUR 130 MILLION
NOT FOR PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, CYPRUS, HONG KONG, ITALY, JAPAN, NEW ZEALAND, SOUTH AFRICA, THE UNITED KINGDOM OR ANY OTHER JURISDICTION WHERE SUCH DISTRIBUTION WOULD REQUIRE ANY FURTHER MEASURES FROM LR GLOBAL HOLDING GMBH, LR HEALTH & BEAUTY SE, PARETO SECURITIES AS, FRANKFURT BRANCH, ARCTIC SECURITIES AS OR ANY OTHER PARTY.
Disclosure of an inside information acc. to Art. 17 of the Regulation (EU) No. 596/2014 (Market Abuse Regulation – MAR)
LR GLOBAL HOLDING GMBH GIVES NOTICE OF CONDITIONAL VOLUNTARY TOTAL REDEMPTION OF ITS OUTSTANDING 2021/2025 BONDS AND LR HEALTH & BEAUTY SE ISSUES NEW SENIOR SECURED BONDS OF EUR 130 MILLION
Ahlen, 19 February 2024 – LR Global Holding GmbH (the “Company”) gives conditional notice of voluntary total redemption of its outstanding EUR 125 million senior secured 2021/2025 bonds with ISIN NO0010894850 (the “Existing Bonds”) in full and announces that the Company’s parent company LR Health & Beauty SE has, following a successfull book building process, placed new senior secured bonds with ISIN NO0013149658 due in 2028 with a nominal amount of EUR 130 million (the ”New Bonds”) and generating proceeds of approximately EUR 125 million.
A notice of a conditional voluntary total redemption of the Existing Bonds will be sent to Verdipapirsentralen ASA (Euronext Securities Oslo) (“VPS”) for delivery to persons registered in the securities account with VPS as holders of Existing Bonds.
The redemption is conditional upon successful settlement of the New Bonds and the receipt of the proceeds from the New Bonds by the Company from a designated escrow account prior to the lapse of 7 March 2024 (the “Condition”). Should the Condition not be fulfilled by the lapse of 7 March 2024, the redemption will not occur (unless the Condition has been waived by the Company at its sole discretion) which will, in such case, be communicated by the Company through a subsequent announcement.
Subject to the fulfilment or waiver of the Condition, the date for redemption is set at 11 March 2024 and the record date for the redemption will be 7 March 2024, i.e. two business days prior to the redemption date. The Existing Bonds will then be redeemed at an amount equal to 101.45 % of the total outstanding nominal amount (i.e., EUR 1,014.50 per Existing Bond) together with any unpaid interest accrued until but excluding the redemption date.
In connection with the redemption, the Existing Bonds will be delisted from Frankfurt Stock Exchange and Nasdaq Stockholm.
The New Bonds will have a term of 4 years and will carry a floating rate coupon of 3 months EURIBOR plus 7.5 % per annum. The Company intends to apply for admission to trading of the Bonds on the Open Market of the Frankfurt Stock Exchange and the corporate bond list of Nasdaq Stockholm.
This announcement is for information purposes only and is not to be construed as an offer to purchase or sell or a solicitation of an offer to purchase or sell with respect to any securities of the Company or LR Health & Beauty SE.
IR contact:
cometis AG
Thorben Burbach
Unter den Eichen 7 | Gebäude D
65195 Wiesbaden
Phone: +49(0)611 - 205855-23
Fax: +49(0)611 - 205855-66
E-mail: burbach@cometis.de
This information is information that LR Global Holding GmbH is obliged to make public pursuant to the EU Market Abuse Regulation (EU 596/2014). The information in this publication has been made public through the agency of the responsible person set out above for publication at the time stated by the Company's news distributor, EQS Group AG, at the time of publication.
Important Note
THE SECURITIES MENTIONED HEREIN HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE US SECURITIES ACT. THEY MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES, EXCEPT PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE U.S. SECURITIES ACT. NO PUBLIC OFFERING WILL BE MADE IN THE UNITED STATES AND THE INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE AN OFFER TO SELL NOR A SOLICITATION TO BUY OR SUBSCRIBE FOR SECURITIES OF LR GLOBAL HOLDING GMBH AND/OR LR HEALTH & BEAUTY SE AND NO EXCHANGE OFFER IS BEING MADE IN THE UNITED STATES, AUSTRALIA, CANADA, CYPRUS, HONG KONG, ITALY, JAPAN, NEW ZEALAND, SOUTH AFRICA, THE UNITED KINGDOM OR ANY OTHER JURISDICTION WHERE SUCH DISTRIBUTION/SUCH OFFER WOULD REQUIRE ANY FURTHER MEASURES FROM LR GLOBAL HOLDING GMBH, LR HEALTH & BEAUTY SE, PARETO SECURITIES AS, FRANKFURT BRANCH, ARCTIC SECURITIES AS OR ANY OTHER PARTY OR BE PROHIBITED BY APPLICABLE LAW.
LR GLOBAL HOLDING GMBH ANNOUNCES ITS INTENTION TO EXERCISE THE CALL-OPTION TO REDEEM ITS OUTSTANDING 2021/2025 BONDS SUBJECT TO A SENIOR SECURED BOND ISSUANCE BY LR HEALTH & BEAUTY SE WITH A TARGET VOLUME OF EUR 125 MILLION
NOT FOR PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, CYPRUS, HONG KONG, ITALY, JAPAN, NEW ZEALAND, SOUTH AFRICA, THE UNITED KINGDOM OR ANY OTHER JURISDICTION WHERE SUCH DISTRIBUTION WOULD REQUIRE ANY FURTHER MEASURES FROM LR GLOBAL HOLDING GMBH, LR HEALTH & BEAUTY SE, PARETO SECURITIES AS, FRANKFURT BRANCH, ARCTIC SECURITIES AS OR ANY OTHER PARTY.
Disclosure of an inside information acc. to Art. 17 of the Regulation (EU) No. 596/2014 (Market Abuse Regulation – MAR)
LR GLOBAL HOLDING GMBH ANNOUNCES ITS INTENTION TO EXERCISE THE CALL-OPTION TO REDEEM ITS OUTSTANDING 2021/2025 BONDS SUBJECT TO A SENIOR SECURED BOND ISSUANCE BY LR HEALTH & BEAUTY SE WITH A TARGET VOLUME OF EUR 125 MILLION
Ahlen, 13 February 2024 – LR Global Holding GmbH (the “Company”) announces that the Company contemplates a refinancing of the Company’s outstanding EUR 125,000,000 senior secured 2021/2025 bonds with ISIN NO0010894850 (the “Existing Bonds”), subject to an issue of a new senior secured corporate bond under Swedish law (Nordic Bond) with a target volume of EUR 125,000,000 (the ”New Bonds”) by the Company’s parent company LR Health & Beauty SE.
LR Health & Beauty SE has mandated Pareto Securities AS, Frankfurt Branch and Arctic Securities AS as joint bookrunners to arrange credit investor meetings in connection with the issue of the New Bonds. A capital markets transaction may follow, subject to market conditions.
Subject to the successful issuance of the New Bonds and the receipt of the required net proceeds from such issuance, the Company intends to mainly use these proceeds to exercise its call-option and redeem in full the EUR 125,000,000 outstanding amount of its Existing Bonds. In accordance with the terms and conditions, the Existing Bonds due 2025 would be redeemed at a redemption price of 101.45 %, plus accrued and unpaid interest thereon up to, but excluding, the redemption date.
This announcement is not a redemption notice in accordance with the terms and conditions of the Existing Bonds, and such redemption notice will be given by the Company only upon a successful placement of the New Bonds on the basis of a book-building process.
IR contact:
cometis AG
Thorben Burbach
Unter den Eichen 7 | Gebäude D
65195 Wiesbaden
Phone: +49(0)611 - 205855-23
Fax: +49(0)611 - 205855-66
E-mail: burbach@cometis.de
This information is information that LR Global Holding GmbH is obliged to make public pursuant to the EU Market Abuse Regulation (EU 596/2014). The information in this publication has been made public through the agency of the responsible person set out above for publication at the time stated by the Company's news distributor, EQS Group AG, at the time of publication.
Important Note
THE SECURITIES MENTIONED HEREIN HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE US SECURITIES ACT. THEY MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES, EXCEPT PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE U.S. SECURITIES ACT. NO PUBLIC OFFERING WILL BE MADE IN THE UNITED STATES AND THE INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE AN OFFER TO SELL NOR A SOLICITATION TO BUY OR SUBSCRIBE FOR SECURITIES OF LR GLOBAL HOLDING GMBH AND/OR LR HEALTH & BEAUTY SE AND NO EXCHANGE OFFER IS BEING MADE IN THE UNITED STATES, AUSTRALIA, CANADA, CYPRUS, HONG KONG, ITALY, JAPAN, NEW ZEALAND, SOUTH AFRICA, THE UNITED KINGDOM OR ANY OTHER JURISDICTION WHERE SUCH DISTRIBUTION/SUCH OFFER WOULD REQUIRE ANY FURTHER MEASURES FROM LR GLOBAL HOLDING GMBH, LR HEALTH & BEAUTY SE, PARETO SECURITIES AS, FRANKFURT BRANCH, ARCTIC SECURITIES AS OR ANY OTHER PARTY OR BE PROHIBITED BY APPLICABLE LAW.
Dr. Andreas Laabs becomes new chairman of the management board of the LR Group as successor for Andreas Friesch
Disclosure of an inside information acc. to Article 17 of the Regulation (EU) No 596/2014
Dr. Andreas Laabs becomes new chairman of the management board of the LR Group as successor for Andreas Friesch
Ahlen, 23 May 2022 – LR Global Holding GmbH ("Company") as the issuer of the bonds (WKN: A3H3FM / ISIN: NO0010894850) informs about the fact that Dr. Andeas Laabs, currently CFO and COO of the Company, will become the new chairman of the management board of LR Health & Beauty SE as well as CEO of the Company. The current chairman of the management board, Andreas Friesch, will for personal reasons by mutual agreement resign as chairman of the management board of LR Health& Beauty SE as well as managing director/CEO of the Company and will leave the LR Group on 27 May 2022.
IR Contact:
cometis AG
Thorben Burbach
Unter den Eichen 7 | Building D
65195 Wiesbaden
Tel.: +49 (0)611 - 205855-23
Fax: +49 (0)611 - 205855-66
E-Mail: burbach@cometis.de
Directors‘ Dealings
At the moment no news are available.