MADARA Cosmetics AS publishes its management report on the unaudited financial statements for 2024, which can be seen in the attachment below (in English).

In 2024, the Group  achieved consolidated turnover of EUR 21.52 million, which is 11% more than the consolidated turnover level attained in the previous year on a like-for-like basis. Without adjustments, this represented a 6.4% increase compared to the previous year.The Group’s consolidated turnover in the second half of 2024 amounted to EUR 10.31 million, which represents an increase of 3.6% compared to the same period last year.

Management has set a minimum revenue growth target of a 10% increase y-o-y, equating to revenue guidance of EUR 23.67 million. 

Management Board of AS “MADARA Cosmetics”

The shares of AS Madara Cosmetics are admitted to trading on Nasdaq Baltic First North Market.

The Certified Adviser for AS Madara Cosmetics is ZAB Eversheds Sutherland Bitāns SIA.

AS MADARA Cosmetics was founded in 2006 and has become one of the leading cosmetics manufacturers in Northern Europe and a leader in Latvia. The company' s brand MÁDARA is a pioneer in the natural skincare and make-up segment in Latvia. Since November 2017, the company's shares have been listed on the Nasdaq Baltic alternative market First North. For more information, visit investors.madaracosmetics.com.