Radoslaw Majdan
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Times are hard for entrepreneurs. They include former athlete and celebrity Radosław Majdan. The owner of the Vabun company has just published a report that shows the huge financial losses of the company. The company’s turnover fell drastically due to the coronavirus pandemic.
Radek Majdan is not only a famous Warsaw celebrity, but also an entrepreneur. The former athlete founded the cosmetics company Vabun, which offers perfumes and shower gels for men and fragrances for women. Majdan cosmetics are very popular. The company made its debut on the stock exchange in 2018. The start was successful, and two days after going public, the company earned PLN 7 million. Unfortunately, despite the promising beginnings, Majdan’s business incurs further losses. This time due to the coronavirus pandemic.
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The coronavirus pandemic spares no one. The current year is also not rosy for Majdan’s company. The company, hit by the lockdown and the closure of shopping malls, even began selling surgical masks. Vabun’s financial reports show that the company’s profits are getting lower every year. Currently, the company’s financial situation is terrible.
“In this undoubtedly difficult period for everyone, including business, I would like to present to you, on behalf of the Management Board of Vabun SA with its registered office in Lublin, the interim report for the third quarter of 2020 containing financial data and describing the most important events that took place in the company in period covered by the report “- we read in the letter that Radosław Majdan, president of Vabun, placed at the beginning of the report.
“The current situation does not spare anyone, neither people nor business entities. Unfortunately, the prolonged COVID-19 pandemic still adversely affects the functioning of Vabun SA, making it difficult or almost impossible to trade in perfumes. As part of our knowledge and competence, we try to reduce the effects of the pandemic experienced by the Issuer, but it can be too difficult. “- Maidan wrote further.
Net sales revenues in the third quarter of 2020 amounted to PLN 59,622. In the same period a year ago, it was PLN 330,956, which shows a decrease of 81.98%. on a year-to-year basis. In terms of the entire previous part of 2020, net revenues from sales and equivalent to them amounted to PLN 583,966.19, which in relation to PLN 1,392,391.80 for the corresponding period of 2019 also indicates a decrease, but with a lower scope, because by 64.48% Every year.
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