LMK Group reports adjusted EBITDA profitability and improved contribution margins in Q4
LMK Group, a leading supplier of meal kits in the Nordic region and a leader in Scandinavian foodtech, today announced its financial results for the fourth quarter and full year 2022. Despite challenging market conditions, contribution margin levels were improved, reaching 29.7%, exceeding expectations. At the same time, Net sales continued to contract on a year-over-year basis and were down 22% for the quarter. Despite price increases to offset inflation, order frequency was stable and Average order value increased by 14.3%.During the quarter, the operations teams increased production