Press release No. 16/2021

Berentzen-Gruppe Aktiengesellschaft publishes Half-yearly Financial Report
Income improves despite anticipated decline in revenues

- Consolidated revenues of EUR 67.7 million fall short of level recorded in the first half of last year

- Consolidated earnings (consolidated EBIT) increases to EUR 2.6 million

- Forecast for the 2021 financial year confirmed

Haselünne, August 11, 2021 - Berentzen-Gruppe Aktiengesellschaft, which is listed on the regulated market (General Standard) of the Frankfurt Stock Exchange (ISIN: DE0005201602), today published its Group Half-yearly Financial Report. In the first half of the 2021 financial year, the corporate group generated consolidated revenues of EUR 67.7 million - a decrease of 7.9 % compared with the equivalent period last year (EUR 73.5 million). The consolidated earnings before interest and taxes (consolidated EBIT) amounted to EUR 2.6 million in the first six months of the 2021 financial year (first half of 2020: EUR 2.1 million), while the consolidated earnings before interest, taxes, depreciation and amortisation (consolidated EBITDA) stood at EUR 7.1 million (first half of 2020: EUR 6.4 million).

"As expected, the lockdown, which lasted well into May, and its dampening effects on social and private life had a significant impact on our business activities. That being said, the decline in revenues is predominantly due to the discontinuation of a contract bottling agreement, a development already communicated previously", explains Oliver Schwegmann, member of the Executive Board of Berentzen-Gruppe Aktiengesellschaft. "Without the effects arising from the termination of this agreement, the cumulative drop in revenues for the first half of the year would have been less than 3 %."

He continued on to say that gross profit also fell owing to reduced business activities in the first half of the year, albeit to a comparatively lesser extent thanks to a considerably improved gross profit margin - in part brought about by the loss of the very low-margin business from the contract bottling agreement. "This, coupled with efficiency gains due to numerous cost savings, meant that we actually performed better in terms of consolidated EBIT and consolidated EBITDA in the first half of the year compared with the equivalent period last year", says Oliver Schwegmann. "This shows that the corporate group is in a sound position and able to respond effectively even to extreme market disturbances." An especially pleasing development, he says, is that the results achieved in all segments in the second quarter have already considerably exceeded those generated in the same quarter last year.

Despite the negative effects of the coronavirus pandemic, Oliver Schwegmann says he observed some very positive developments in the first six months of the 2021 financial year. "We are still delighted in particular with the performance of our Mio Mio brand in the Non-alcoholic Beverages segment. Although we had already achieved a high level of revenues in this area, we managed to boost these revenues by an additional 14 % in the first half of the 2021 financial year", he says, also pointing out that the business with premium brand spirits and higher-value private-label spirits performed very well.

Outlook for the rest of the financial year

The Group reconfirmed its forecast for the 2021 financial year today. Specifically, the corporate group expects to achieve consolidated revenues in the range of EUR 152.0 million to EUR 158.0 million, a consolidated EBIT between EUR 4.0 million and EUR 6.0 million and a consolidated EBITDA between EUR 13.0 million and EUR 15.0 million. "Although the current situation - with rates of new infections still low and comparatively few restrictions on public and private life - gives us reason to look positively to the future, the pandemic has taught us that new variants of the virus and containment measures adapted to the changing situation can bring new challenges. It is therefore with cautious optimism that we embark on the second half of the year", concludes Oliver Schwegmann.

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.

Further information is available at

Berentzen-Gruppe Aktiengesellschaft
Thorsten Schmitt
Corporate Communications & Investor Relations
Tel. +49 (0) 5961 502 215
[email protected]
www.berentzen-gruppe.de