Presse release no. 14/2023

Berentzen-Gruppe Aktiengesellschaft publishes preliminary operating results for Q3/2023
Revenue growth despite consumer reticence. Results affected by cost burdens.

• Consolidated revenues of EUR 134.6 million achieved – a plus of 5.9%.
• Consolidated operating profit (EBIT) at EUR 5.0 million: below previous year's level due to ongoing cost burdens
• Annual forecast for the 2023 financial year slightly adjusted

Haselünne, 16 October 2023 - Berentzen-Gruppe Aktiengesellschaft (ISIN: DE0005201602), listed on the Regulated Market (General Standard) of the Frankfurt Stock Exchange, today published preliminary business figures for the first three quarters of the 2023 financial year. According to these figures, the group of companies generated consolidated revenues of EUR 134.6 (Q3/2022: EUR 127.1) million. Consolidated earnings before interest and taxes (consolidated EBIT) amounted to EUR 5.0 (Q3/2022: EUR 6.8) million euros in the first nine months of the 2023 financial year. Consolidated earnings before interest, taxes, depreciation and amortisation (consolidated EBITDA) amounted to EUR 11.2 million (Q3/2022: EUR 13.1 million).

"Compared to the same period last year, we were able to increase our revenues by almost six percent. This is primarily due to the implementation of price increases with which we had to compensate our significantly higher procurement costs," said Oliver Schwegmann, CEO of Berentzen-Gruppe Aktiengesellschaft. At the same time, the revenue momentum has weakened slightly over the course of the year to date, while remaining at a high level. "Unfortunately, we are also affected by the current consumer restraint due to the economic concerns and the persistently high inflationary burden, which are currently affecting the entire market environment and the development of almost all beverage categories," Schwegmann explains. Nevertheless, he adds, sales successes and market share gains were again achieved in important strategic core themes in the first nine months of the 2023 financial year. "For example, our Mio Mio brand from the Non-alcoholic Beverages segment has again achieved double-digit growth in sales volume and revenue this year. The products of our strategic spirits brands Berentzen and Puschkin were also able to achieve significant revenue growth in declining markets and thus expand their market shares."

"While the third quarter of 2022 was one of the strongest quarters in the history of the Berentzen Group due to catch-up effects after the pandemic, this year's third quarter was characterised by an extremely negative market situation," Schwegmann said. An isolated comparison with the same quarter last year is therefore difficult, he said. "We are currently countering this market situation with comprehensive sales marketing programmes. These were already prepared a few weeks ago and will take effect in the fourth quarter," Schwegmann continued.

In contrast to the increased revenues, the group recorded declines in the key earnings figures of consolidated EBITDA and consolidated EBIT in the past nine months. "Of course, we are not satisfied with this. An overall lower sales volume in combination with price increases, which led to additional revenue but have so far only just covered our material cost increases, meant that we were unable to increase our gross profit compared to the same period last year," says Schwegmann. Against the backdrop of inflationary price dynamics in the entire value-added chain, other operating expenses, especially personnel costs, increased at the same time. These developments therefore had a dampening effect on the result.

"While we are convinced that cost dynamics will weaken, we do not expect energy, raw material and personnel costs to return to levels seen before the outbreak of the Ukraine war. Rather, we are confronted with a new reality. Against this background, we are currently working on a readjustment of our strategic guidelines, which we will present at the beginning of 2024. The core of these will be to align and focus the company, the structures and processes as well as the product portfolios even more consistently on the further growth of our well-known strategic core topics," says Schwegmann. In the course of this, the Berentzen Group will also announce a mid-term forecast for the first time. "In this way, we are positioning the Berentzen Group for the future and at the same time providing an outlook on our concrete growth potentials for the coming years," said Schwegmann.

Further outlook for the 2023 financial year

Against the backdrop of subdued revenue and earnings momentum, the Berentzen Group is slightly adjusting its forecast for the 2023 financial year. The corporate group now expects consolidated revenues in a range of EUR 182.0 to 190.0 million (original forecast 2023: EUR 185.0 to 195.0 million; 2022: EUR 174.2 million), a consolidated EBIT between EUR 7.0 and 8.0 million (original forecast 2023: EUR 7.0 to 9.0 million; 2022: EUR 8.3 million) and a consolidated EBITDA between EUR 15.3 and 16.3 million (original forecast 2023: EUR 15.6 to 17.6 million; 2021: EUR 16.7 million). Nevertheless, the Group expects increases in both revenue and earnings in the fourth quarter compared to the same period of the previous year, which was characterised by price increases that had not yet been implemented at this time.

The Berentzen Group will announce further information on the first nine months of the 2023 financial year as well as details on the individual business units with the scheduled publication of the Interim Report Q3/2023 on 24 October 2023.
 

About the Berentzen Group:

The Berentzen Group is a modern, innovative beverage company whose roots go back more than 260 years. Broadly positioned with its Spirits, Non-Alcoholic Beverages and Fresh Juice Systems divisions, the corporate group today develops, produces and markets beverage concepts for a wide range of consumer needs - from spirits to mineral waters and lemonades to fruit presses for freshly squeezed orange juice. With well-known brands such as Berentzen, Puschkin, Mio Mio and Citrocasa as well as contemporary private-label products, the Berentzen Group is present in more than 60 countries worldwide. The share of Berentzen-Gruppe Aktiengesellschaft (ISIN DE0005201602) is listed on the Regulated Market (General Standard) of the Frankfurt Stock Exchange.

For more information, please contact:

Berentzen-Gruppe Aktiengesellschaft
Corporate Communications
& Investor Relations

Tel. +49 (0) 5961 502 215

pr@berentzen.de

www.berentzen-gruppe.de