Veganz publishes Annual Report 2021

• Sales grow by 14 percent
• Expansion of worldwide points of sale (POS) to 25,199
• Equity ratio rises to 53 percent
• Additional distribution channel food service introduced
• Sustainability remains top priority

(Berlin, 31 May 2022) 2021 was another exciting and eventful year for Veganz Group AG (veganz.de), the only multi-category provider of vegan food in Europe: the Company managed to continue its growth despite the ongoing COVID-19 pandemic, thanks in particular to the systematic expansion of its distribution channels. In the process, Veganz improved both its product range and its market position, while also enhancing its innovative strength with highly promising projects and partnerships. In addition, the Company’s IPO created a solid foundation for the expansion of its own plant-based food production and established a firm financial footing for the business – while never losing sight of its commitment to climate and environmental protection. The overriding corporate objective remains: to motivate as many people as possible to adopt a plant-based diet and treat our environment responsibly. With this in mind, Veganz published its first non-financial report on environmental, social and governance (ESG) issues as part of the 2021 Annual Report – Good for you, better for everyone.

Further grown
Due in particular to the positive development in the domestic market Germany, sales at individual company level of Veganz Group AG increased by 14 percent to EUR 30.4 million in the fiscal year 2021 (prior year: EUR 26.8 million). The steady growth of the food retail sector and the exceptionally good performance of the discount sector – driven by extensive promotional activities – more than compensated for the decline in the drugstore sector. Supported by a broad TV campaign in the first half of 2021, the Company increased the number of its worldwide points of sale (POS) to 25,199 (prior year: 20,073). Taking into account sales of the Company’s three own supermarkets in Berlin, sales at Group level (unconsolidated) reached EUR 33.5 million (prior year: EUR 30.1 million).

Although the ongoing COVID-19 pandemic had a negative impact on supply chains, Veganz was able to improve its gross profit margin to 30.7 percent (prior year: 29.9 percent) with targeted shifts in its product mix.

Despite the increase in sales, EBITDA of EUR -9.8 million was down on the previous year (prior year: EUR -3.2 million), mainly due to increased expenses for materials and personnel as well as significantly higher other operating expenses for funding measures in connection with the private placement and IPO. Adjusted for one-off expenses, especially for the private placement in June 2021 and the subsequent IPO, EBITDA amounted to EUR -5.5 million (prior year: EUR -2.1 million). As a result, the net loss for the year was also greater than in the previous year at EUR 13.3 million (prior year: net loss of EUR 4.9 million).

Equity amounted to EUR 27.0 million as of 31 December 2021 (prior year: EUR - million). With a balance sheet total of EUR 50.7 million (prior year: EUR 24.9 million), this corresponds to an equity ratio of 53 percent (prior year: - percent).

Additional distribution channel food service introduced
In the fiscal year 2021, Veganz Group AG gained some well-known partners for its new food service distribution channel – such as one of Germany’s largest caterers, Aramark, RB Leipzig football club and the Bakerman bakery company. Thanks to these cooperation agreements and brand licensing partnerships, Veganz customers can now encounter Veganz products not only in the supermarket, but also in various life situations – such as at a football match or in a company restaurant. This is a great way to raise awareness of the Veganz brand and generate additional sales.

“Our partnerships in the new food service distribution channel are a further milestone on our path to sustainable growth,” says Jan Bredack, founder and CEO of Veganz Group AG. “This segment offers particularly strong potential to raise the visibility of the Veganz brand and integrate it more strongly into the everyday lives of climate and environmentally conscious consumers.”

Sustainability remains top priority
Since 2019, Veganz has been making sustainability visible to consumers by displaying a sustainability score on its product packaging that shows the environmental performance of each individual product. With its first non-financial report, published in the 2021 Annual Report, Veganz is taking the next step and for the first time reporting in more detail on how the Company lives sustainability: for its investors and customers, employees and business partners – as well as for all other stakeholders interested in learning more about the Veganz approach to environmental, social and governance (ESG) issues.

In doing so, Veganz aims to expand the non-financial information it reports, not only to meet current expectations, but also to anticipate future ESG requirements and opportunities. In 2021, the Company already made good progress towards this objective and, for example, significantly reduced its own carbon footprint.

Veganz also has plenty in store for 2022 in terms of sustainability: for example, it plans to complete the B Corp certification as a responsible company, set itself clear climate targets and survey internal and external stakeholders as part of a materiality analysis to understand their sustainability priorities even better.

“We are currently experiencing a paradigm shift. Many people are realigning their nutritional compass according to ecological and ethical aspects,” says Alexandra Vázquez Bea, CFO of Veganz Group AG. “The successful IPO therefore offers us the opportunity to proactively exploit the opportunities opening up for us as a company with a sustainable business model in a growing future market.”

About Veganz Group AG
Veganz (veganz.de) – Good for you, better for everyone – is the brand for plant-based food. Founded in Berlin in 2011, Veganz became known as the European vegan supermarket chain. With a colourful and life-affirming corporate philosophy, Veganz succeeded in opening up the vegan niche and establishing the plant-based food trend on the market. The current product portfolio comprises products from breakfast to dinner and is available in more than half of all European countries and at over 22,000 points of sale (POS) worldwide. In addition, the Veganz product portfolio is continuously optimised with high-quality, innovative items and its sustainable value chain is constantly being improved. For this commitment, Veganz was voted Germany’s most innovative food brand in a Handelsblatt 2021 ranking.

Contact:
Veganz Group AG
Vanina Hoffmann
Head of Investor Relations
T: +49 (0)170 6837016
vanina.hoffmann@veganz.de