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After celebrating its stock market debut in New York in early May with the coveted vegan burgers, the Californian company is making headlines for the first time. The ventilated fireworks.
In the first quarter, sales rose 215% to $ 40.2 million ($ 35.6 million), as announced by Beyond Meat on Thursday after the closing of the transaction in the United States. Although the loss has risen from just under 16% to $ 6.6 million, the results have exceeded expectations and have been well received in the market. The stock has sometimes risen by almost 20% after the stock market.
Beyond Meat produces herbal alternatives to meat – ingredients of animal origin are strictly taboo. The company, founded in 2009 in El Segundo, California, is very fashionable. Especially with the vegan burgers, sold in Germany by the Metro distribution chain and, more recently, by the Lidl discount store, Beyond Meat has triggered a real hype.
The maker of meat substitutes on the capital market is even more sensational. Beyond Meat is in early May at Nasdaq Technology Exchange in New York, one of its first successful productions in years. The attack on the stock has not taken place so far. The course had recently exceeded the issue price by 300%.
The company, celebrities like the co-founder of Microsoft Bill Gates The Hollywood star Leonardo DiCaprio counts among its investors and defenders, approximately 240 million dollars to the IPO and was thus valued at nearly 1.5 billion dollars (1.3 billion euros). In comparison, Beyond Meat has a market value of more than $ 5.7 billion.
While financial professionals warn of setbacks as a result of rapidly rising prices, the end of strong sales growth seems at least not to be in sight. For the current fiscal year, Beyond Meat was confident in the quarterly report and had promised revenues of $ 210 million. That would be 140% more than in 2018. In addition, management expects to achieve profitability before interest, taxes, depreciation and amortization.
EL SEGUNDO (dpa-AFX)
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Image sources: Beyond the meat
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