Veganz: The big wish of the CEO

You have a big wish at Veganz. You want to become profitable as soon as possible. This is how CEO Jan Bredack explains at the Hamburg Investor Days (HIT), organized by Montega and Donner and Reuschel. Functionally, however, we are still far from this goal. After the three quarters of 2022, the operating profit was -9.5 million euros (last year -5. million euros), the loss was 9.9 million euros (last year -6.2 million euros). According to Bredack, many new products are in the works. The target group of Veganz offers are mainly women and 1 -3 years old. The company currently focuses mainly on retail sales, but later wants to do more online again. However, you don’t have to offer products only under your own brand name. Bredack also sees the future under its own brands and with other partners under their brands. Diversity is king. And can save costs. In late 2022, however, Veganz (WKN: A3E5ED, ISIN: DE000A3E5ED2, Chart) suffered a setback. CFO Alexandra Vazquez Bea left the company and the stock price fell as a result. Before Christmas, the fee was around 17 euros, but after that it dropped below 13 euros. The magazine hasn’t recovered since. From a minus 12-month point of view, it is more than 82 percent. Veganz had liquid assets of .1 million euros as of the end of September. The report for the 2022 financial year will be published in May. At the latest, it will become clear how liquidity has developed. However, Bredack insists in Hamburg that he wants to dispose of currently existing liquid assets without raising new capital. However, the board cannot say when the desired breakeven point will be reached.

Ethan Andrews

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