![]() Both the revenue and EBITDA development exceeded our expectations and confirm that we are on the right path towards our goal of having a positive cash flow after investments. “2021 gave us some of the best months we have ever had, especially in cities like Copenhagen, London and New York where return-to-work had a very positive impact on customer traffic. ![]() In June 2022 Joe & The Juice announced its expansion into the Middle East, with Nørøxe hinting at likely expansion into further Asian markets ‘in the coming years’. Thomas Nørøxe, appointed CEO in June 2021 with the goal of leading the chain’s international expansion, highlighted the success of the brand in Copenhagen, London and New York in particular, where return-to-work footfall boosted sales. In a statement, the company said it anticipated 2022 revenue growth of at least 30%. Joe & The Juice expects profit to improve in 2022 but reported a loss of 233m DKK ($31m) for 2021 which the company attributed to high level of investments. Reporting its financial results for 2021, the chain said revenues grew 30% to 1.1bn DKK ($149m) with operating profit increasing 9% to 272m DKK ($36m). Joe & The Juice has reported strong 2021 results as it continues to grow its presence globally, with the Danish coffee and juice chain forecasting a 'record' year in 2022. Joe & The Juice currently operates around 310 stores in Europe, the US and Asia Pacific | Photo credit: Joe & The Juice It currently operates around 300 stores in 16 countries worldwide.The Danish coffee and juice chain expects revenues to increase by more than 30% in 2022, despite current inflationary pressures, as it continues to pursue international expansion In 2009 the coffee chain opened its first store outside of Denmark in London and now operates around 50 stores in the UK. Joe & the Juice is a health-focused coffee and juice chain founded by Kaspar Basse in Copenhagen, Denmark in 2002. It is important that we maintain our unique culture while growing, and I am therefore happy that Sebastian will remain as part of the team,” said Thomas Nørøxe. “We are facing a crucial development and expansion of Joe & The Juice, which is possible thanks to the focus and strategic initiatives we have made during the pandemic. Especially in the aftermath of Covid-19 where we have a unique opportunity to expand our business considerably,” said Kaspar Basse, Founder and Chairman of Joe & the Juice. This, together with his sincere respect and deep understanding of the unique Joe culture, is just what we need right now. “Thomas Nørøxe has a proven track record in both investment banking and private equity, and he has experience from the management team in Joe & The Juice. Nørøxe was also co-responsible for facilitating private investment firm Valedo Partners’ majority stake in the company for a reported $43m in 2013. Nørøx has previously held roles as Director of Strategy, Development, and Chief of Staff at Joe & The Juice. He replaces Sebastian Vestergaard, who has been in the role since 2004 and will remain at the Copenhagen-headquartered business in a business development capacity. In a press release, Joe & The Juice said Thomas Nørøxe would become CEO with immediate effect. Joe & The Juice has appointed new leadership to oversee the businesses’ next phase of international expansion, the coffee chain has announced. Joe & Juice appoints Thomas Nørøxe as new CEO with immediate effect, replacing Sebastian Vestergaard, who has been in the role since 2004 and will remain at the company
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