Press release No. 4/2023

Berentzen-Gruppe Aktiengesellschaft publishes 2022 Annual Report
Significant business growth and positive earnings in the 2022 financial year – higher revenues expected again in 2023

• Preliminary operating results for 2022 confirmed: Considerable growth in consolidated revenues, consolidated EBIT and consolidated EBITDA
• Proposed dividend of EUR 0.22 per share
• 2023 financial year: Revenues again expected to climb significantly with results forecast at the previous year’s level

Haselünne, March 23, 2023 – Berentzen-Gruppe Aktiengesellschaft, which is listed on the regulated market (General Standard) of the Frankfurt Stock Exchange (ISIN: DE0005201602), today published its Annual Report for the 2022 financial year. In the report, the Group confirmed its preliminary operating results for the past financial year, published on February 2, 2023. Accordingly, the corporate group achieved consolidated revenues of EUR 174.2 million – up 19.2 percent over the 2021 financial year (EUR 146.1 million). Consolidated earnings before interest and taxes (consolidated EBIT) rose to EUR 8.3 million (2021: EUR 6.7 million). Consolidated earnings before interest, taxes, depreciation and amortisation (consolidated EBITDA) stood at EUR 16.7 million (2021: EUR 15.4 million).

“We always emphasised that, once the restrictions on social life caused by the coronavirus were lifted, the Berentzen Group would return to its path of growth. Our revenue and earnings figures for the 2022 financial year show impressively that we achieved that,” summarised Oliver Schwegmann, member of the Executive Board of Berentzen-Gruppe Aktiengesellschaft. He added, “We are particularly pleased with the increase in our consolidated revenues by just under 20 percent, which is due primarily to higher demand for our products and only to a minor degree to price increases that had already been implemented.”

Consolidated EBIT also saw positive growth, noted Schwegmann, with an increase of 24.2 percent compared to the previous year. “As we have reported many times already, as a result of the war in Ukraine, we were confronted in the past year with dramatically higher costs for energy, purchased goods and services and raw materials, which had an ever increasing impact in the course of the year. Given the challenges, we are satisfied with our EBIT – without them, it would likely have come in significantly higher”, said Schwegmann.

The Executive Board and Supervisory Board will recommend to the Annual General Meeting on May 10, 2023 a dividend payment of EUR 0.22 per share. “It is very important to us that our shareholders participate extensively in our company's success,” explained Schwegmann.

Positive development in all the Berentzen Group’s business areas

All business areas of the Berentzen Group contributed to the dynamic revenue growth in the 2022 financial year. In the Spirits segment, a 12.2% boost in revenue was achieved. “Our two umbrella brands Berentzen and Puschkin, with which we launched the liqueur campaign, recorded solid growth of over 16 percent,” said Schwegmann, adding that this development showed the relevance of the products for sociable celebrations and festivities. The premiumised dealer brands concept, which stands in Berentzen’s strategic focus, contributed to the success in the Spirits segment with nearly 9% revenue growth.

Revenues in the Non-alcoholic Beverages segment were up 26.3%. “This is mainly due to the extremely positive development of our soft drinks brand Mio Mio, which delighted us with a strong 24% increase in revenue. Mio Mio managed to keep gaining ground over the course of the year,” Schwegmann explained. The end of coronavirus-related restrictions also benefited Mio Mio, as the brand is strongly positioned in urban and student environments.

Higher revenues were also achieved in the Fresh Juice Systems segment in the 2022 financial year, for a total increase of 22.5%. All system components contributed – equipment, fruit and bottles. “We are especially glad about this development, since the Fresh Juice Systems segment had suffered the most under the impact of the coronavirus pandemic,” Schwegmann declared.

“The strategic key focuses that play an especially important role in ensuring sustainable, profitable business development – the liqueur campaign at Berentzen and Puschkin, premium concepts with dealer brand spirits, Mio Mio and the emphasis on core markets in the Fresh Juice Systems segment – recorded extremely successful growth in the past year,” Schwegmann summarised.

He also emphasised that revenues in the Other Segments more than doubled in the 2022 financial year, which he said was attributable to a revenue increase of over 180% in the Spirits business of the Turkish subsidiary. The background of this development is the renewed strengthening of the tourism business in Turkey.

Outlook for the 2023 financial year

The strategic focuses offer the greatest potential for growth and profitability and will continue to play an important role in ensuring positive performance in the 2023 financial year. In addition, the Berentzen Group expects positive revenue effects due to the influence of inflation.

For the 2023 financial year, the corporate group expects to achieve consolidated revenues in the range of EUR 185.0 million to EUR 195.0 million, a consolidated EBIT between EUR 7.0 million and EUR 9.0 million and a consolidated EBITDA between EUR 15.6 million and EUR 17.6 million. The earnings ratios of consolidated EBIT and consolidated EBITDA are therefore forecast to reach roughly the same level as in the previous year, despite the anticipated increase in revenues. The reason given for that, besides further investments in substantial, sustainable growth, is again higher burdens on the cost side. For one thing, the cost increases that occurred gradually in the past year will now have a full-year impact. For another, some further cost increases are to be expected.

“Despite this, we look very optimistically toward the future. Even in the challenging past three years of the pandemic and the war in Ukraine, we have given constant evidence of our stability and profitability, and also showed specifically in the 2022 financial year that we can generate further growth potential”, said Schwegmann in closing.

The 2022 Annual Report is published at: https://www.berentzen-gruppe.de/en/investors/reports

About the Berentzen Group:

The Berentzen Group is a modern, innovative beverage company with a history dating back more than 260 years. Broadly positioned in the segments of Spirits, Non-Alcoholic Beverages, and Fresh Juice Systems, the Group today develops, produces, and markets beverage concepts for a wide range of consumer needs, including spirits, mineral water products, soft drinks, and fruit presses for fresh-squeezed orange juice. With well-known brands like Berentzen, Puschkin, Mio Mio, and Citrocasa, as well as contemporary private-label products, the Berentzen Group is present today in more than 60 countries of the world. The shares of Berentzen-Gruppe Aktiengesellschaft (ISIN DE0005201602) are listed on the Regulated Market (General Standard) of the Frankfurt Stock Exchange.

Further information is available at

Berentzen-Gruppe Aktiengesellschaft
Thorsten Schmitt

Corporate Communications
& Investor Relations

Tel. +49 (0) 5961 502 215

pr@berentzen.de

www.berentzen-gruppe.de