Bezvavlasy published preliminary financial results for the entire year 2023 and announced a new CEO

3.5.2024 09:37, BAABEZVA

The Czech company Bezvavlasy has published its financial results for 2023.

Results of Bezvavlasy (BAABEZVA) for the year 2023 20232022

Sales (billion CZK) 1.05 0.51

EBITDA (million CZK) 115 34.23

Net profit (million CZK) 79 27.80

The results

The company achieved sales of CZK 1.05 billion with an EBITDA profit indicator of CZK 115 million. The EBITDA margin reached 11%. Earlier in its outlook, the company stated that for 2023 it expects an EBITDA profit of over CZK 110 million, sales in the range of CZK 700 to 732 million, and a net profit of CZK 40.67 million.

The results include the acquisition of HAIR SERVIS.

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Bezvavlasy expects the EBITDA margin to increase from the current 11% to 15% in the coming years. Future synergy from the HAIR SERIVS acquisition should be partially realized in 2025 and fully in 2026.

Founder’s Comment

“Our expectations regarding the final financial performance of the entire Bezvavlasy group for the next 3 years are significantly higher than the proforma consolidated results for 2023, which were affected by many one-off negative factors,” said Aleš Hudeček.

Changes in management

As of June 1, Daniel Horák, who previously worked for 10 years at the pharmaceutical company Dr.Max, takes up the position of CEO. Next to Daniel Horák, Nicolas Eich takes up the position of Business Unit Director for e-commerce, replacing the current CEO Jaromír Muchka.

Subscription of new shares

In connection with the acquisition, the founders of HAIR SERVIS received 300,000 as part of the purchase price. shares of Bezvavlasa, this subscription should be settled during June. Another 50,000 will also be subscribed. shares, of which 37 thousand shares will be signed by the executive management and the remaining 13 thousand small shareholders. The approval procedure at the CNB is currently underway.