AS MADARA Cosmetics (the ‘Company’) publishes its ESG (environmental, social and governance) report for 2024. This report is a voluntary disclosure of the Company's performance based on three aspects: environmental, social and governmental. Environmental criteria examine the environmental sustainability of the Company's practices, social criteria examine the relationship between the Company and its stakeholders (employees, customers, suppliers), governance examines the corporate governance, financial reporting and shareholder rights. The report may help to evaluate the prosperity and sustainability of the Company in the long term.
A few key facts from the ESG report of AS MADARA Cosmetics:
- The majority of the Company’s employees (including Board and Supervisory Board members) are women;
- The Company’s manufacturing works according to LEAN principles, which allows to increase effectiveness and ensure that increase in production volumes does not significantly increase the consumption of resources;
- In 2024, the process for B Corp™ certification was initiated. Having received B Corp™ certification confirms that the Company meets high standards of social and environmental performance, accountability, and transparency.
- Work is continuing on the digitalisation of the Company’s internal processes, including changing e-commerce platforms, enhancing efficiency, and improving data management to ensure maximum transparency and compliance with the highest standards.
- In 2024, 11 new products were launched. Five of these products utilise an airless system in their packaging, which allows up to 99% of the product to be dispensed. The Company has also introduced new product lines with fully recyclable packaging and changed the packaging for the Time Miracle collection, which reduces waste.
- The Company successfully cut its greenhouse gas (GHG) emissions to 32.5 grams per product manufactured.
The full ESG report is available in the attachment.
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.
About AS MADARA Cosmetics
Founded in 2006, AS MADARA Cosmetics is the largest cosmetics manufacturer in Latvia. The Company develops and produces natural skincare and decorative cosmetics, certified by ECOCERT/COSMOS, and exports to more than 35 countries. Since 2017, MADARA shares have been listed on Nasdaq Baltic’s alternative market First North. The Company and the MÁDARA brand have received multiple awards for innovation, sustainability, design, and product excellence, both in Latvia and internationally.
In 2025, MADARA obtained B Corp certification, affirming its commitment to responsible, sustainable, and transparent business practices. It has also been recognised as a family-friendly workplace (2023) and a top employer in the manufacturing sector (2023, 2024), while the MÁDARA brand was named the greenest brand in the Baltics (2023).
In 2024, AS MADARA Cosmetics reported a consolidated turnover of EUR 21.52 million, marking an 11% like-for-like year-over-year increase.