23.03.2017
Berentzen-Gruppe Aktiengesellschaft DE0005201602
DGAP-News: Berentzen-Gruppe Aktiengesellschaft: Group confirms ongoing positive business development with good results for the 2016 financial year
DGAP-News: Berentzen-Gruppe Aktiengesellschaft / Key word(s): Final Results
Berentzen-Gruppe Aktiengesellschaft: Group confirms ongoing positive
business development with good results for the 2016 financial year
23.03.2017 / 06:44
The issuer is solely responsible for the content of this announcement.
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P R E S S R E L E A S E No. 10/2017
Approved for immediate release
Berentzen-Gruppe Aktiengesellschaft: Group confirms ongoing positive
business development with good results for the 2016 financial year
- Consolidated revenues rise 7.3% to EUR 170.0 million
- Consolidated EBIT rises 38.2% to EUR 10.5 million
- Proposed dividend of EUR 0.25 per share
- Strategic brands Berentzen, Puschkin and Mio Mio see significant rise in
sales
- Dynamic growth in Fresh Juice Systems segment continues
- Early refinancing of the bond will significantly cut financial expenses as
of 2018
Haselünne, March 23, 2017 - Berentzen-Gruppe Aktiengesellschaft, which is
listed on the regulated market (General Standard) of the Frankfurt Stock
Exchange (ISIN: DE0005201602) today presented its annual report for the
successful 2016 financial year. According to this report, consolidated
revenues increased by some 7.3% to the current EUR 170.0 million (2015: EUR
158.5 million). Earnings before interest, tax, depreciation and amortisation
(EBITDA) came to EUR 17.5 million (2015: EUR 15.7 million), which
corresponds to growth of 11.5% on the previous year. Consolidated EBIT
(earnings before interest and tax) even improved by as much as some 38.2% to
EUR 10.5 million (2015: EUR 7.6 million).
In light of these positive business developments, the Executive Board and
Supervisory Board will propose a dividend of EUR 0.25 per share to the
annual general meeting to be held on May 19, 2017.
"The 2016 financial year met our expectations in full, both with regard to
results and to the way the ongoing development of the group is being
structured. All segments have made a contribution to this strong rise in
revenue and results," explains Frank Schübel, Executive Board Spokesman of
Berentzen-Gruppe Aktiengesellschaft. In the spirits business, the group saw
an increase in revenue to EUR 101.7 million (2015: EUR 98.4 million), in the
Non-alcoholic Beverages segment revenue grew to EUR 46.7 million (2015: EUR
42.9 million). The most dynamic growth was achieved by the Fresh Juice
Systems segment with revenue of EUR 21.6 million in comparison to EUR 17.2
million in the previous year. "This year we have made good progress towards
our goal of becoming a diversified beverage company with a successful
product portfolio," says Frank Schübel.
Spirits: Strategic brands develop significantly above market level
The Spirits segment saw positive developments overall. Sales grew
significantly in the group's two strategic brands Berentzen and Puschkin in
particular. In the domestic business, the Berentzen core brand achieved
sales growth of 4.9%, Puschkin likewise saw exceedingly positive
developments with a rise in sales of 3.4%. "Our strategic brands are
developing better than their respective comparative markets, which we see as
further evidence for the competitiveness of our strategy", says Frank
Schübel. The Berentzen Group consistently invests in expanding its core
brands and drew attention to itself in 2016 with product innovations such as
Berentzen Cranberry Apéritif and Puschkin Pink Grapefruit among others. The
strategic brand management was also acknowledged by a high-ranking expert
jury: in the renowned brand award presented by absatzwirtschaft only a few
days ago, the Berentzen brand received second prize in the category "Best
Brand Digitalisation".
In the international business with brand spirits, sales fell by 10.2% on
account of the ongoing difficult political situation in some markets. Even
here, however, there is a slowly emerging trend towards normalisation on the
core international markets and in the duty-free business. In the spirits
business with dealer brands and branded private-label products, sales once
again saw very positive developments on the back of excellent customer
relationships in Germany and other countries, returning growth of 7.6% in
comparison to the previous financial year.
Non-alcoholic beverages: Investments in building up Sinalco are paying off;
innovative flagship Mio Mio brand is developing into a national assortment
brand
With sales in the business with soft drinks and mineral waters up by 8.0%,
the Non-alcoholic Beverages segment likewise saw significant growth in the
past year. The investments made in building up the Sinalco brand, especially
in the area of gastronomy, are beginning to pay off: An increase of 15.4%
was recorded in the franchise business with soft drinks under the Sinalco
brand in the 2016 financial year. Secondly, the pleasing development in
sales of the well-positioned, regional water brands (St. Ansgari, Emsland
Quelle, Märkisch Kristall and Grüneberg Quelle) produced by the group
company Vivaris made its contribution to the positive overall development.
The innovative and recently introduced new Mio Mio brand experienced a
particularly large leap forward in 2016. This involved more than putting two
exciting product innovations onto shelves in the form of Banana and Ginger.
At the same time, significant progress has been made with regard to
expanding the Mio Mio brand to become an assortment brand available
throughout Germany. This is reflected in a very positive way in the sales
figures: Mio Mio products returned a rise of 61.0% and significantly more
than 12 million bottles.
Fresh juice systems: Highly dynamic growth in fruit presses and fruit
The business with fresh juice systems organised under the Citrocasa brand
continued its high level of dynamic growth. Sales of fruit presses increased
by 49.4% in 2016 thanks to new models, among other things. In this respect,
it became apparent once again that the compact Revolution equipment
developed the previous year excellently supplements the other series and has
triggered great demand, especially in the field of gastronomy.
Sales of quality fruit (oranges) also increased by 12.0% in the 2016
financial year despite a difficult supply situation with extremely bad
harvests in some cases, which involved additional logistical measures. "The
trend towards healthy sustainable food is unbroken. With Citrocasa we aspire
towards quality leadership with fruit presses and ultra-fresh drinks. Our
customers reward these efforts", says Frank Schübel. Growth was also
generated in sales of customised bottling systems: Sales rose by 13.0%.
Early bond refinancing will ensure positive stimuli for the future;
significant cuts in financial expenses as of 2018.
Just under ten months prior to the repayment date of its corporate bond
(ISIN: DE000A1RE1V3), the Berentzen Group exploited the favourable financing
environment and the good development of the company to obtain early
refinancing in December 2016 by means of a syndicated loan with a volume of
EUR 25.5 million. In this respect, Berentzen-Gruppe Aktiengesellschaft only
needs to cover around half the nominal amount of the corporate bond due in
October 2017 with external refinancing. The other half will be repaid from
existing own funds. "I am very satisfied as this permits us to achieve two
goals at once: the long-term security of our financing plans and attractive
terms", explains Ralf Brühöfner, the Chief Financial Officer of
Berentzen-Gruppe Aktiengesellschaft.
From October 2017 onwards, the Berentzen Group is expected to be able to
reduce its annual financing costs by more than two million euros, which is
more than half. "We anticipate a significant reduction in borrowing costs
with correspondingly significant positive effects - not only on our cash
flow but, of course, also on our financial performance and thus, ultimately,
on our equity", says Ralf Brühöfner.
As of December 31, 2016, the group had liquid funds of EUR 67.7 million at
its disposal (2015: EUR 63.1 million); the equity ratio disclosed on the
face of the balance sheet totalled 23.9% (2015: 24.2%).
A positive outlook once again
In the current 2017 financial year, the corporate group intends to
consistently follow the path it has taken so far. The long-term strategy of
achieving a sustainable improvement in financial performance through
profitable growth, remains the central issue in this respect.
Correspondingly, the Executive Board is anticipating another rise in revenue
and results in comparison to the 2016 financial year. The plans are for
consolidated revenues to reach a level of between EUR 170.4 million and EUR
179.2 million and for consolidated EBIT and consolidated EBITDA to range
from EUR 11.2 to 12.4 million and/or from EUR 17.8 to 19.7 million.
Specifically, the dynamic growth in the Fresh Juice Systems (Citrocasa) and
Non-alcoholic Beverages segments is to be exploited and further developed in
a consistent manner. Citrocasa will penetrate new markets in 2017. In the
area of non-alcoholic beverages, retail and consumers alike may anticipate
further positive surprises on the products side. In the Spirits business,
the focus is to be placed on a sustainable improvement in the competitive
position in declining markets. "Despite all these developments, we always
uphold our pragmatic management philosophy, a mix of entrepreneurial courage
and managerial prudence", Frank Schübel notes in conclusion.
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.
For more information
www.berentzen-gruppe.de
www.berentzen.de
Berentzen-Gruppe Aktiengesellschaft
Press and public relations
Tel. +49 (5961) 502 0
[email protected]
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23.03.2017 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: Berentzen-Gruppe Aktiengesellschaft
Ritterstraße 7
49740 Haselünne
Germany
Phone: +49 (0)5961 502-0
Fax: +49 (0)5961 502-550
E-mail: [email protected]
Internet: www.berentzen-gruppe.de
ISIN: DE0005201602, DE000A1RE1V3,
WKN: 520160, A1RE1V
Listed: Regulated Market in Frankfurt (General Standard);
Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
End of News DGAP News Service
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