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PRESS RELEASE: mymuesli GmbH: mymuesli reports strong and profitable growth in 2020. Digital-first strategy boosts growth during COVID-19 pandemic

06/11/2021 | 03:01am EDT
DGAP-News: mymuesli GmbH / Key word(s): Annual Results 
mymuesli GmbH: mymuesli reports strong and profitable growth in 2020. Digital-first strategy boosts growth during 
COVID-19 pandemic 
2021-06-11 / 09:00 
The issuer is solely responsible for the content of this announcement. 
=---------------------------------------------------------------------------------------------------------------------- 
NOT FOR DISTRIBUTION OR RELEASE IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION IN 
WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE THE IMPORTANT 
DISCLAIMER AT THE END OF THIS RELEASE. 
Media Release 
mymuesli reports strong and profitable growth in 2020. Digital-first strategy boosts growth during COVID-19 pandemic 
  . Group sales revenues increase of 15.7% to EUR 80.3 million 
  . 369% increase in adjusted EBITDA^[1] to EUR 5.0 million 
  . Online sales revenues increase of 33.2% to EUR 58.4 million 
  . Online active customer base^[2] reached 989 thousand, increasing 28% year-over-year 
  . Digital-first strategy and successful product innovation strengthen growth potential 
Passau, 11 June 2021 - mymuesli GmbH ("mymuesli"), Europe's digitally native cereal brand, today announced its results 
for the financial year ended 31 December 2020, demonstrating continued growth and significant improvements in 
profitability. Benefitting from its digital-first strategy and the continued shift from offline to online, mymuesli 
reported a 15.7 % increase in sales revenues to EUR 80.3 million (FY 2019: EUR 69.4 million) and a 369% increase in 
adjusted EBITDA to EUR 5.0 million (FY 2019: EUR 1.1 million). 
The strong growth and profitability at mymuesli was driven primarily by continued gains in the company's dominant 
online sales channel, where sales revenues rose 33.2% year-over-year from EUR 43.9 million in 2019 to EUR 58.4 million in 
2020, representing 72.8% of group sales revenues. In 2020, mymuesli's customer base included 989 thousand active online 
customers (up 27.9% from a year earlier). mymuesli's B2B/Retail sales channel, which accounted for 19.5% of group sales 
revenues in 2020, generated sales revenues of EUR 15.7 million. Impacted by the effects of the COVID-19 pandemic, sales 
revenues from mymuesli's store sales channel declined by 33.9% to EUR 6.2 million in 2020. 
Hubertus Bessau, managing director and co-founder of mymuesli: "The strong online performance in 2020 underlines the 
enormous potential of our unique business model. We have refocused our business to pursue a clear online-first strategy 
and the results we are reporting today show that we are on the right track. Online penetration in the food market is 
still at an early stage, and this is where we see great opportunities for us." 
Expecting that the trend from offline to online purchases will continue to grow, mymuesli decided in February 2021 to 
fully focus on its online strategy and to almost completely exit its store sales channel, keeping three stores in 
Passau, Munich and Geislingen, Germany. 
mymuesli believes it operates with a unique business model in the the global food market, which is the largest market 
for consumer spending^[3]. Within this market, the estimated size of the global breakfast cereals market amounts to EUR 
62,196 million in 2021^[4]. While breakfast cereals remain the main product category with 83% sales revenues share in 
2020, mymuesli over the years expanded its product range based on its direct-to-consumer ("DTC") and food customization 
approach. 
The producer of organic foods has complemented its core cereals offering with additional categories around breakfast 
and healthy snacking, tea under our brand "Tree of Tea" and plant-based milk alternatives under our brand "Nilk". In 
2020, 36.7% of mymuesli's online sales revenues were generated by product innovations that were launched in the 
previous twelve months (including updated and improved products), providing significant growth potential in the future. 
Franky Das, CFO of mymuesli: "We believe mymuesli to be one of the pioneers of food customization. Based on our 
data-driven, costumer-focused approach, we will continue to focus on enabling customers to determine their own 
nutrition and aim to become the leading DTC hub for a wide variety of customized food." 
While the international online business posted disproportionately strong growth in 2020, from a geographical 
perspective the core markets of Germany, Austria, and Switzerland (DACH region) accounted for 92.4% of sales revenues. 
In addition, mymuesli is active in six other European countries. 
About mymuesli 
mymuesli is Europe's digitally native breakfast cereal brand disrupting traditional models in the food industry with an 
online-first, direct-to-consumer strategy. The Germany-based and founder-led company represents a diversified organic 
assortment of breakfast cereals and complementary products. mymuesli was founded in 2007 and is currently active in the 
nine European countries Germany, Austria, Switzerland, the Netherlands, Belgium, Luxembourg, France, Sweden and Poland. 
For more information please visit https://www.mymuesli.com/ 
Media contact 
Wenke Blumenroth 
PR & Corporate Communication 
Phone: +49 (0) 151 40 24 24 88 
Email: wenke.blumenroth@mymuesli.com 
Sailerwöhr 16, 94032 Passau, Germany 
 
DISCLAIMER 
This release does not contain or constitute an offer of, or solicitation of an offer to purchase or subscribe for, 
securities to any person in the United States, Australia, Canada or Japan or in any other jurisdiction to whom or in 
which such offer or solicitation is unlawful. 
Certain statements contained herein may constitute "forward-looking statements". Forward-looking statements are based 
on the current views, expectations, assumptions and information of the management of the company. Forward-looking 
statements should not be construed as a promise of future results and developments and involve known and unknown risks 
and uncertainties. Various factors could cause actual future results, performance or events to differ materially from 
those described in these statements, and neither the company nor any other person accepts any responsibility for the 
accuracy of the opinions expressed in this release or the underlying assumptions. The company does not assume any 
obligations to update any forward-looking statements. Moreover, it should be noted that all forward looking statements 
only speak as of the date of this release and that the company assumes no obligation, except as required by law, to 
update any forward looking statement or to conform any such statement to actual events or developments. 
Certain financial information (including percentages) in this release has been rounded in accordance with generally 
accepted accounting principles. As a result, certain amounts (including percentages) in this release may have been 
calculated based on the underlying unrounded financial information. 
^[1] Adjusted EBITDA defined as earnings before interest, tax, depreciation and amortization (EBITDA) adjusted for 
special items which are of non-recurring nature, which include expenses for external services, litigation expenses/ 
provisions, provisions relating to the closing of stores and other non-operating expenses. In order to calculate 
EBITDA, firstly, the sales revenues, change in inventories of finished and unfinished goods, other own work capitalized 
as well as other operating income are summed up. Subsequently, the cost of materials, consisting of the cost of 
purchased merchandise, the personnel expenses, consisting of wages and salaries as well as social security, pension and 
other benefit costs, and other operating expenses are subtracted. 
^[2] Defined as as the number of customers that placed at least one order in the measurement period. Cancelled orders 
are not included. 
^[3] Source: Statista (https://de.statista.com/outlook/cmo/lebensmittel/weltweit). 
^[4] Source: Statista (https://de.statista.com/outlook/cmo/lebensmittel/brot-getreideprodukte/ 
fruehstueckscerealien-muesli/weltweit?currency=EUR). 
=---------------------------------------------------------------------------------------------------------------------- 
2021-06-11 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. 
The issuer is solely responsible for the content of this announcement. 
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. 
Archive at www.dgap.de 
=---------------------------------------------------------------------------------------------------------------------- 
Language:     English 
Company:      mymuesli GmbH 
              Sailerwöhr 16 
              94032 Passau 
              Germany 
Phone:        +49 (0) 851 204266 99 
Internet:     www.mymuesli.com 
EQS News ID:  1206834 
 
End of News   DGAP News Service 
=------------ 

1206834 2021-06-11

 
Image link: 
https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1206834&application_name=news 
 

(END) Dow Jones Newswires

June 11, 2021 03:00 ET (07:00 GMT)

Stocks mentioned in the article
ChangeLast1st jan.
CLASS III MILK FUTURES (DC) - CMG (ELECTRONIC)/C1 0.29% 17.34 End-of-day quote.9.62%
CLASS IV MILK?FUTURES (GDK) - CMG (ELECTRONIC)/C1 -0.48% 16.48 End-of-day quote.19.51%
CORN FUTURES (C) - CBR (FLOOR)/C1 -5.94% 633 End-of-day quote.30.79%
DJ INDUSTRIAL -0.62% 33823.45 End-of-day quote.11.20%
DRY WHEY?FUTURES (DY) - CMG (ELECTRONIC)/C1 0.00% 64.625 End-of-day quote.46.21%
NONFAT DRY MILK FUTURES (GNF) - CMG (ELECTRONIC)/C1 0.00% 127 End-of-day quote.13.60%
S&P GSCI CLASS III MILK (USD) -1.41% 132.4222 End-of-day quote.-0.29%
WHEAT FUTURES (W) - CBR (FLOOR)/C1 -3.58% 639 End-of-day quote.-0.23%
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