Berentzen Group publishes interim report for first quarter of 2021

Berentzen-Gruppe Aktiengesellschaft (ISIN: DE0005201602), listed on the Regulated Market (General Standard) of the Frankfurt Stock Exchange, today published its interim report for the first quarter of fiscal 2021. In the first three months of this year, the Group generated consolidated sales of EUR 31.4 (Q1 2020: 36.2) million. Consolidated operating earnings before interest and taxes (consolidated EBIT) in the first quarter amounted to EUR 0.5 (Q1 2020: 1.1) million, while consolidated operating earnings before interest, taxes, depreciation and amortization (consolidated EBITDA) were EUR 2.7 (Q1 2020: 3.2) million.

"As expected and already communicated by us at the beginning of the year, the coronavirus pandemic had a noticeable impact on our business activities in the first quarter of the 2021 financial year," explains Oliver Schwegmann, member of the Executive Board of Berentzen-Gruppe Aktiengesellschaft. Public and private life was massively restricted throughout the entire three months due to the ongoing lockdown, he said. In the same quarter of the previous year, on the other hand, the pandemic had only had a dampening effect for a few weeks - starting in mid-March. "Despite this challenging economic and social situation, we succeeded in closing this first quarter of 2021 profitably as well and generating a positive consolidated operating result," Schwegmann emphasized.

All segments of the Berentzen Group were affected by the revenue declines, albeit to very different extents. The Fresh Juice Systems segment continued to record the strongest decline. But even within the segments, the development was quite heterogeneous. "While in the Spirits segment, for example, sales of our core brands Berentzen and Puschkin continued to suffer significantly from the absence of consumption occasions, such as public and private celebrations, we were able to achieve significant growth rates for our premium spirits in both the branded and private label segments," explains Schwegmann, adding, "In the Non-alcoholic Beverages segment, we were once again able to record double-digit sales growth with our Mio Mio brand despite the challenging times. However, the sharp downturn in the concession business in the food service sector in particular and lower contract filling sales led to an overall decline in sales in this segment."

Further outlook for fiscal 2021
Against the backdrop of the current infectious disease situation and the ongoing lockdown, the Berentzen Group also anticipates a challenging second quarter. However, as the vaccinations progress and a gradual return to normality takes place, the Group expects a gradual recovery of its business activities in the further course of the year. Therefore, the Group today reaffirms its full-year guidance. Specifically, the Group anticipates consolidated revenues in a range of EUR 152.0 million to EUR 158.0 million, a consolidated EBIT of between EUR 4.0 million and EUR 6.0 million, and a consolidated EBITDA of between EUR 13.0 million and EUR 15.0 million.