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Veganz Group AG: Portfolio adjustments prompt Veganz to adjust its annual forecast for 2023

Ludwigsfelde, Germany, 13 November 2023 - Veganz Group AG ("Company" or "Veganz") (ISIN DE000A3E5ED2 / WKN A3E5ED / stock exchange symbol VEZ) has made product range adjustments to improve profitability in 2023 and is therefore adjusting its annual forecast for the 2023 financial year.

Due to the discontinuation of several product categories, the significant reduction of the product range and the ongoing economic weakness, Veganz Group AG expects a significant decline in sales in the 2023 financial year (previous year: EUR 23.6 million). In the remaining core portfolio, the company achieved year-on-year growth of 7.8% in the first nine months of the year.

Veganz Group AG continues to expect a significant improvement in EBITDA compared to the previous year (previous year: EUR -12.3 million). The extensive cost reduction and efficiency improvement programme, the streamlining of the product range, the optimisation of the customer portfolio and the expansion of in-house production with the start of production at the Ludwigsfelde site will all contribute to this.

The presentation of the Q3 quarterly figures will take place on 15 November 2023 at 10 a.m.

Contact Company:

Veganz Group AG
An den Kiefern 7
14974 Ludwigsfelde
Phone: +49 (0)30 2936378 0
E-mail: info@veganz.de

Contact Investor Relations:
Massimo Garau (Chief Financial Officer, CFO)
Phone: +49 (0)151 46569362
E-mail: ir@veganz.de

IMPORTANT NOTICE

This publication may not be released, published, distributed, disseminated or transmitted in or into the United States of America (including its territories and possessions, any state of the United States and the District of Columbia), Australia, Canada, Japan, South Africa or any other jurisdiction in which such release, publication, distribution dissemination, or transmission would be unlawful. This publication constitutes neither an offer to sell nor a solicitation to buy shares or other securities of Veganz Group AG. There will be no public offering of shares or other securities of Veganz Group AG. The shares of Veganz Group AG have not been and will not be registered under the U.S. Securities Act of 1933, as amended.