Meat-free alternatives Beyond Meat generates profit
Photo: Beyond Meat
Following promotions at Lidl, Aldi and Netto, Beyond Meat could soon be permanently on the shelves of German retailers.
fleischwirtschaft.com — USA, El Segundo. The meat substitute manufacturer continues its rapid growth even during the Corona crisis.
In the first quarter, Beyond Meat revenues rose by 141% year-on-year to $ 97,1 Mill. , according to the US company. In addition, the manufacturer of vegan burger patties posted a profit of $1.8 mill., compared to a loss of $6.6 mill. in the same period last year. On Wall Street, red figures and less turnover had been expected. The share price increased significantly after the market. Since the beginning of the year, the share price has already risen by over 30%. This was reported by the Deutsche Presse-Agentur (dpa).
Beyond Meat is forecasting net sales in the range of $ 490 to 510 mill. for 2020 as a whole. Analysts consider this to be a very conservative estimate, as the forecast only includes contracts that have already been concluded, but further contracts are expected to be concluded. This is because while the US meat industry is suffering from the Corona crisis, the manufacturers of meat-free alternatives are offering retailers welcome substitutes.
(Bild: Beyond Meat)
Beyond Meat is forecasting net sales in the range of $ 490 to 510 mill. for 2020 as a whole. Analysts consider this to be a very conservative estimate, as the forecast only includes contracts that have already been concluded, but further contracts are expected to be concluded. This is because while the US meat industry is suffering from the Corona crisis, the manufacturers of meat-free alternatives are offering retailers welcome substitutes.
(Bild: Beyond Meat)