LR Global Holding GmbH, the parent company of direct selling organization LR Health & Beauty, announced third quarter 2023 sales of $70 million, a slight decrease (0.6%) from the same period in 2022. Sales for the first nine months of the year reached $222.8 million, representing a 4.6% growth rate compared to the first nine months of 2022.
EBITDA during the third quarter saw a significant increase (50.8% growth) from Q3 2022, reaching $8.45 million. For the first nine months, EBITDA was $27.5 million, a 22.1% increase year over year.
“The results for the first nine months of 2023 clearly show that our strategic initiatives are bearing fruit, both in terms of sales and profits,” said Valdemaras Gordinskis, LR Group Vice President Global Controlling and Investor Relations. “During the summer months of this year, we supported the sales activities of our partners in selected markets with our ‘Crazy Summer’ campaign. And our innovative products also play a major role in driving the dynamic business development. The launch of our premium health product Mind Master Gold, for instance, has already generated strong demand for subscriptions.”
