Veganz publishes annual report 2022 – vegconomist

Berlin’s Veganz Group, like most businesses, had to contend with ongoing economic weakness in 2022: after focusing on food retailing and the discount sector in the first months of the year, to ensure basic supplies for the population, the young core target group in particular (Generation Z and Millennials +) were the most affected by price increases due to their relatively low incomes.

Overall, this development made it more difficult to relist Veganz products and implement promotional measures, and Veganz Group AG’s sales decreased to EUR 23.6 million (previous year: EUR 30.4 million). In contrast, the number of points of sale (“POS”) increased to 28,217 as of December 31, 2022 (December 31, 2021: 25,199) – mainly due to the Christmas promotion in the discount category with a total of 4,538 POS in the fourth quarter of 2022 (prior year: 3,340 POS).

Veganz Store, Berlin

Expand food service sales channels

In 2022, food retail accounted for the largest share of Veganz Group AG’s sales at 64 percent (previous year: 64 percent), followed by the drug store business at 25 percent (previous year: 22 percent). However, the company is actively tapping new sales channels: for example, the relatively new food service division – with its launch partners, soccer club RB Leipzig and caterer Aramark – already contributed 8 percent to sales in its first full year (previous year : 1 percent). Veganz’s food service customers now include Bakerman, Eurowings, Valora and Hack AG.

However, the discount business, where the company does not yet have a specific list, suffered disproportionately compared to 2021 – with an exceptionally extensive promotional business – and achieved a share of sales of only 3 percent in 2022 (previous year: 13 percent) . Last but not least, from September 2022 Veganz is selling selected Veganz products as exclusive bundles through online D2C businesses to enable the target group to take it directly where it’s at: in the digital space.

Veganz range of meat plant based alternatives
© Veganz

Continued focus on Germany and Europe

With a 90 percent share of sales, the DACH region (Germany, Austria, Switzerland) was the most important sales market for Veganz in 2022 (previous year: 92 percent). At 74 percent, Germany remains the largest single market (previous year: 71 percent), which continues to be the company’s strongest focus.

At 10 percent, the rest of Europe was slightly above the previous year’s level (previous year: 8 percent) and the company sees more potential here: after the listing in Greece, Veganz initially announced France as another target market and is working to expand sales there. Thanks to the Europe-wide license to print milk substitutes, the company will have the opportunity to open new target markets with innovative products in the future.

Veganz plant based product box
© Veganz

Continued expansion of domestic production

Veganz Group AG is increasingly striving to implement product ideas itself. To this end, the company has already set up three production sites: in the heart of Berlin, the vegan Camembert cheese alternative “Cacheubert” is produced. In October 2022, another production facility for plant-based cheese alternatives opened in Spielberg, Austria. The needs of business partners in Austria, Switzerland, Italy and Slovenia are mainly met from here. In addition, the company is producing its vegan smoked salmon, a sustainable algae-based fish alternative, in Neubrandenburg from June 2022.

In December 2022, Veganz secured Mililk, a unique, patented process for producing milk substitutes made using 2D printing methods. This will enable the company to produce environmentally friendly and affordable milk alternatives in the future, which will be marketed through a variety of products in both the foodservice, retail, L and direct-to-consumer D2C sectors.

Cashewbert cheese made by Veganz
Cashewbert © Veganz

“2022 was a really challenging year, but we used the difficult situation for everyone involved as an opportunity to reposition Veganz for the future,” said Jan Bredak, founder and CEO of Veganz Group AG.

“In addition to repositioning ourselves from a retailer to an innovative food technology company, continuously expanding our own production, optimizing our product range and focusing more on the licensing business, we have secured an additional core base for production and sales in a rapidly growing market. . Acquiring an exclusive license for a patented 2D printing process for milk substitutes.

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