Veganz Reports Significant Loss Reduction But Decline in Revenue for 2024

German plant-based food producer Veganz Group AG reported a significant reduction in losses for 2024, with EBITDA improving to €-2.4 million from €-6.3 million in 2023. This was attributed to cost-saving measures and one-time income from a capital increase. However, revenue declined to €10.8 million from €16.4 million, as the company focused on developing five new brands and investing in in-house production, leading to the cancellation of orders worth €7 million.

Despite the decline in sales, Veganz remains optimistic for the future, expecting sales to stabilize in 2025 at the 2024 level. The company has positioned itself for growth and improvement, with a focus on meeting market demands and continuing to drive reorganization efforts. CEO Jan Bredack is confident that with continued investment and financing, Veganz will be able to navigate challenging market conditions and see improvement in the coming year.