Navigating a Healthy Future: Rapid Nutrition Announces Financial and Strategic Milestones in H1 2023
London, UK – October 17, 2023 – Rapid Nutrition PLC (Euronext Growth: ALRPD), a global nutritional supplement company, is thrilled to announce its interim results for the first half of 2023, showcasing a robust financial and strategic performance that aligns perfectly with its outlined strategic roadmap.
Key Financial Highlights:
- D2C Revenue Growth: Director to Consumer revenue grew to $650,903, marking and 80.56% increase compare to $360,489 reported in HY2022, highlighting a significant enhancement in our direct-to-consumer strategy.
- Liabilities Reduction: A significant 71% decrease, now standing at $522,269, compared to $1,803,513 HY 2022.
- Enhancement of Cash Position: Experiencing a notable uplift of 128%, the cash position has reached $1,011,274, compared to $443,980 in HY 2022. This substantial increase fortifies the company's financial stability, ensuring the seamless execution of its business plan.
- Product Innovation: Successful launch of innovative products slated for Q4.
- Strategic Funding: Secured up to EUR 3 million from Atlas Special Opportunities LLC, judiciously utilising only EUR 1 million to bolster initiatives
- Convertible Notes Management: Proactive reduction and conversion of convertible notes, with a strategic pivot towards more long-term funding solutions post full conversion.
The first half of 2023 has witnessed Rapid Nutrition making substantial strides in financial outcomes, initiating market expansion, and product innovation, reflecting a steadfast commitment to delivering pioneering nutritional products that adeptly cater to evolving consumer preferences and market trends.
Addressing Market Trends:
Immune Health Supplements: Positioned to capitalise on the global immune health supplements market, projected to grow from USD 20.18 billion in 2021 to USD 31.50 billion by 2028.
Plant-Based Products: Aligning with the surge in consumer interest towards plant-based products, with the US retail market experiencing a 27% growth in 2021.
Product and Market Innovations:
- Azurene Immunity Booster: Launch of innovative products like Azurene and personalised vitamin packs.
- SystemLS Brand Identity: Introduction of a new brand identity for its flagship SystemLS weight loss brand, emphasizing clean labeling and premium plant-based vegan protein powders.
- Asia Pacific Focus: Significant progress in the Asia Pacific market, with a focus on expanding flagship products into emerging markets.
- Strategic Positioning: Launch of 'Personalised Nutrition,' introducing an additional 40-plus vitamins and minerals and strategically positioning the company in the vitamin supplement segment.
Rapid Nutrition looks forward to sustained growth and expansion with a focus on entering the Asia Pacific and European markets and the rollout of new products like Rapid Nutrition Personalised Nutrition and Azurene.
Rapid Nutrition anticipates a future of delivering exceptional value to its customers and stakeholders, remaining committed to enhancing long-term shareholder value, and is strategically positioned to capitalise on key growth initiatives in the future.
*Note: This press release condenses the provided information and may require further details for a comprehensive understanding of Rapid Nutrition’s performance and strategies, and interim report accessible on the company’s website: www.rnplc.com
About Rapid Nutrition
Dedicated to the development and distribution of premium, science-based health and wellness brands across the globe, Rapid Nutrition shares a wealth of award-winning products with consumers who are passionate about innovations that are “made by nature, refined by science.” Rapid Nutrition’s first-class scientific team matches the experience of its management team to keep both the company and consumers on top of the latest industry trends and developments, while aligning with industry leaders worldwide to deliver effective supplements and solutions. Rapid Nutrition aims to be the supplier of choice globally by offering premium brands with the highest-quality ingredients to deliver maximum results.
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This press release contains forward-looking statements and references to third party data, which is made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and or otherwise that involve risks, uncertainties and assumptions that could cause Rapid Nutrition PLCs actual results and experience to differ materially from anticipated results and expectations expressed in these forward-looking statements. Rapid Nutrition PLC has in some cases identified forward-looking statements by using words such as "anticipates," "believes," "hopes," "estimates," "looks," "expects," "plans," "intends," "goal," "potential," "may," "suggest," and similar expressions. Rapid Nutrition PLC undertakes no obligation to release publicly the results of any revisions to any such forward-looking statements that may be made to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events, except as required by applicable law or regulation.
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