Published: 2018-12-11 08:00:00 CET
MADARA Cosmetics
Company Announcement

AS MADARA Cosmetics Plans to Continue Rapid Growth in the Next 2 Years

Inside information, 2018-12-11 08:00 CET --

Toward the end of 2018, the management of the company confirms that the proposed turnover goal of EUR 10m will be achieved. Depending on the December sales results, the target may deviate within 5% bound.

Considering this year’s target fulfilment, the management of the company announces the turnover target for the next two years. By recognizing the positive market conditions of the natural cosmetics industry and accounting for the company's future development activities, the management of AS MADARA Cosmetics plans to continue a rapid growth in 2019 and 2020, reaching a turnover of EUR 15 million in 2020.

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

The Certified Adviser for AS Madara Cosmetics is AS LHV Pank.

MADARA Cosmetics, founded in 2006, is the local pioneer in the field of natural cosmetics. In 2016 and 2017 the company and its managers were ranked among the top-10 Most Admired Business Leaders in Latvia. MADARA develops and manufactures all products exclusively at its own laboratories and facilities to ensure 100% control over processes. Further evidence of its passion for quality and perfection in every detail are the company’s ECOCERT organic certification, GMP (ISO 22716:2007) standard, and in vitro and in vivo research. For more information, visit madaracosmetics.lv/investors/.

         Contact information:
         Address: 131 Zeltiņu Street, Mārupe district, Mārupe, LV 2167, Latvia
         Contact person: Uldis Iltners, member of the Management Board
         E-mail: uldis@madaracosmetics.com
         Phone: +371 67 470 243
         
         Certified advisor:
         AS “LHV Pank”
         Contact person: Ivars Bergmanis
         E-mail: ivars.bergmanis@lhv.ee
         Phone: +372 680 2720