26.04.2018 Interim Report for the first quarter of 2018 published: Profitable start to the year for Berentzen-Group

26. April 2018 07:00

• Higher consolidated operating profit (EBIT) despite a decline of revenues
• Consolidated revenues: EUR 36.5 million (EUR 38.9 million)
• Consolidated operating profit (EBIT) rises by 10.4 % to EUR 1.7 million
• Earnings forecast for the 2018 financial year confirmed

Haselünne, April 26, 2018 - Berentzen-Gruppe Aktiengesellschaft, which is listed on the regulated market (General Standard) of the Frankfurt Stock Exchange (ISIN: DE0005201602) today presented its interim report for the first quarter of the 2018 financial year. Over the first three months of this year, the corporate group generated consolidated revenues of EUR 36.5 million (Q1 2017: EUR 38.9 million). Consolidated earnings before interest and taxes (consolidated: EBIT) for the first quarter stood at EUR 1.7 million, 10.4 % higher than in the equivalent period last year (EUR 1.6 million). Consolidated earnings before interest, taxes, depreciation and amortisation (consolidated EBITDA) improved by 7.6 % to EUR 3.5 million (Q1 2017: EUR 3.2 million). Return on sales (EBIT margin) increased from 4.0% to 4.7%.

'We started the year even more profitably than 2017. We are very pleased about this, even though we originally did have greater expectations for this quarter with regard to consolidated revenues,' says Oliver Schwegmann, one of Berentzen-Gruppe Aktiengesellschaft's Executive Board members. The Fresh Juice Systems segment in particular had seen a significant fall in revenues. 'Sales of fruit presses on the important French market in the first quarter did not yet reach the very high level seen in recent years,' explains Schwegmann and continues: 'In the USA, in contrast, sales are enjoying positive developments again after the challenges experienced last year, but are not yet matching previous growth rates. We are extremely satisfied with the rise in sales figures in the German-speaking area.'

In the Non-alcoholic Beverages segment, it was specifically the contract bottling that caused actual developments to fall below expectations. 'Our own brands, above all Mio Mio once again with a large rise in sales of 37 percent, were, in contrast, very successful. In this respect, this situation fits in well with our vision of developing, in terms of non-alcoholic drinks, from a regional beverage provider to a self-confident, national brand-name company,' continues Schwegmann. Revenues in the Spirits segment were in slight decline. 'However, our umbrella brands of Berentzen and Puschkin have once again seen extremely positive developments,' Schwegmann is happy to say. In this segment the corporate group had seen a rise in sales in comparison to the equivalent period last year.

The increases in consolidated EBIT and EBITDA were attributable to an improved gross profit margin, a higher level of other operating income and a slight decline in overheads. 'It is in the context of non-alcoholic beverages, in particular, that the first effects of the ongoing portfolio adjustment can be seen,' explains Schwegmann. 'While the elimination of low-margin products from the range did cause a fall in revenues, we were however able to increase our gross profit margin at the same time. All in all, the consolidated earnings provide confirmation of the corporate group's robust development.'

Outlook for the 2018 financial year remains positive

'Furthermore, we are still convinced that we will achieve the earnings targets we have set ourselves for the 2018 financial year,' Schwegmann continues. The time-lag in the measures initiated since the summer of 2017 that have already been announced - specifically the new marketing and media campaigns for Spirits and Non-alcoholic Beverages and the further expansion in the distribution of Mio Mio - means that positive effects reflected in the earnings figures can be expected especially in the second half of 2018.

About the Berentzen Group:

The Berentzen Group is a broad-based beverage company operating in the following three segments: Spirits, Non-alcoholic Beverages, and Fresh Juice Systems. The Berentzen Group is one of the oldest producers of spirits in Germany with a corporate history going back over 250 years. Today, it has a presence in more than 60 countries around the world with well-known brands like Berentzen and Puschkin and attractively priced private label products. In its Non-alcoholic Beverages segment, the corporate group produces mineral waters, carbonated and non-carbonated soft drinks under its own brands and also boasts more than 50 years of experience in the franchise business for soft drinks, currently acting as franchisee for the Sinalco brand. In addition, the Berentzen Group markets innovative fresh juice systems under the Citrocasa brand in its third segment, thus serving the fast-growing market for modern, health-oriented drinks. The Berentzen-Gruppe Aktiengesellschaft share (ISIN DE0005201602) is listed on the regulated market (General Standard) of the Frankfurt Stock Exchange.

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