Berentzen-Gruppe Aktiengesellschaft publishes Consolidated Half-Yearly Financial Report: Business performance meets expectations - Significant revenue growth, positive operating result, extensive cost increases

Berentzen-Gruppe Aktiengesellschaft (ISIN: DE0005201602), listed on the Regulated Market (General Standard) of the Frankfurt Stock Exchange, today published its consolidated half-year financial report. In the first half of the financial year 2023, the Group generated consolidated revenues of EUR 89.0 million - an increase of almost 13% compared to the same period of the previous year (EUR 79.0 million). Consolidated earnings before interest and taxes (consolidated EBIT) amounted to 3.3 (H1/2022: 3.7) million euros, while consolidated earnings before interest, taxes, depreciation and amortisation (consolidated EBITDA) were 7.3 (H1/2022: 7.9) million euros.

"We succeeded in building on the strong performance of the previous year in terms of our revenues and also achieved double-digit revenue growth in the first six months of this year," said Oliver Schwegmann, CEO of Berentzen-Gruppe Aktiengesellschaft. Although the increase in revenue in the first half of the 2023 financial year was primarily based on implemented price increases, there were also positive volume effects. "We are particularly pleased that we were again able to achieve very significant volume growth this year, especially in strategically important core themes," said Schwegmann. In this context, the dynamics of the Mio Mio brand in the non-alcoholic beverages segment and the development of the core brands Berentzen and Puschkin in the spirits segment should be highlighted. Both Mio Mio and Berentzen and Puschkin had achieved sales growth of over 25 per cent. "This development impressively shows that our products are highly relevant to consumers even in times of stagnating economy and loss of purchasing power," commented Schwegmann. Overall, all business units of the Berentzen Group had contributed to the positive revenue momentum.

"Against the background of the enormous cost burdens, especially for raw materials, our Group EBIT and EBITDA are in line with our expectations," explains Schwegmann and continues: "At the same time, the dampening effect on the Group earnings figures was somewhat more pronounced in the first quarter due to the successive implementation of price increases. The development dynamics in the second quarter already pointed in the right direction again. For the rest of the financial year, we expect an increasing recovery."

Outlook for the rest of the financial year
The Berentzen Group today reaffirms the forecast for the current financial year that it issued in March with the publication of the Annual Report 2022. Accordingly, the Berentzen Group expects consolidated revenues of between EUR 185.0 million and EUR 195.0 million, consolidated EBITDA of between EUR 15.6 million and EUR 17.6 million and consolidated EBIT in a range of EUR 7.0 million to EUR 9.0 million. Accordingly, the Berentzen Group expects significantly higher revenues for the full year than in the 2022 financial year and earnings ratios at roughly the same level as the previous year.

"Our medium-term goal is to significantly improve the quality of earnings in addition to revenue growth. The market successes of the strategic core themes Mio Mio, Berentzen and Puschkin brand liqueurs, high-quality private-label spirits and Citrocasa brand products are the most important building blocks for this. In addition, it is important to continue to develop the unit yields of our products positively against the backdrop of continuing price-inflationary procurement markets," Schwegmann concludes.