24.03.2016
Berentzen-Gruppe Aktiengesellschaft DE0005201602
DGAP-News: Berentzen Group with higher revenues and profit again in 2015
DGAP-News: Berentzen-Gruppe Aktiengesellschaft / Key word(s): Final Results
Berentzen Group with higher revenues and profit again in 2015
24.03.2016 / 07:15
The issuer is solely responsible for the content of this announcement.
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Berentzen Group with higher revenues and profit again in 2015
- Sharp increase in profits, EBIT rose from EUR 5.1m to EUR 7.6m
- Profitable Fresh Juice Systems segment successfully integrated under
the "Citrocasa" brand (sales of juicer up 42%)
- Strong sales growth recorded for strategic brands in Germany
("Berentzen" + 3%, "Puschkin" + 8% and "Mio Mio" + 58%)
- Non-alcoholic Beverages segment adversely affected by change of
franchise brand
- Dividend of EUR 0.20 per share proposed
Haselünne, March 24, 2016 The Berentzen Group increased both revenues and
profit in the financial year 2015. Consolidated revenues increased from EUR
153.4 million to EUR 158.5 million and the adjusted consolidated EBIT rose
from EUR 5.1 million to EUR 7.6 million. EBITDA also increased during the
reporting period, from EUR 12.6 million to EUR 15.7 million. The main
factors contributing to the success of the group were the spirits brands
"Berentzen" and "Puschkin" as well as the fresh juice systems segment
trading under the "Citrocasa" brand. Sales of private and secondary label
spirits also developed well throughout the year. Sales volume in the
Non-alcoholic Beverages segment was adversely affected by the ramp-up phase
of the new Sinalco concession, which led to an overall volume decline in
the segment.
Executive Board Spokesman Frank Schübel is pleased with the results: "The
successful financial year 2015 confirms the growth strategy that we
initiated three years ago. With an increase of the EBIT margin from 3.3% to
4.8%, we have achieved our target of increasing the operating margin by at
least one percentage point. We aim to continue delivering profitable growth
throughout the current financial year."
At the reporting date of December 31, 2015, the consolidated group had cash
and cash equivalents of EUR 63.1 (41.0) million and an equity ratio of
24.2% (27.4%). The Executive Board and the Supervisory Board will propose
to the annual general meeting on May 12, 2016 that a dividend of EUR 0.20
per share be paid out of the distributable profit.
Fresh juice systems and non-alcoholic beverages: light and shadow
The new fresh juice systems segment operating under the "Citrocasa" brand
and the conclusion of the concession and contract-bottling agreements with
the Sinalco Group in the Non-alcoholic Beverages segment gives the
Berentzen Group a much broader footprint. T M P Technic-Marketing-Products
GmbH ("Citrocasa"), which was acquired in October 2014, was consolidated
into the corporate group for the first whole year in 2015. This segment
made a key contribution to revenue growth with revenues of EUR 17.2 million
(only EUR 3.4 million consolidated in 2015) and delivered an extremely good
performance in its domestic market Austria as well as its export markets.
It increased sales of fruit presses by 41.9% to 1,855 units (compared to
1,307 units in 2014) and sales of bottling systems by 38.6%.
The ongoing trend for a healthy lifestyle offers considerable potential for
fresh juice systems. The goal is to achieve a sharp increase in market
share in Germany in the current financial year by stepping up sales
activities. At the same time, the focus will be on hotels, restaurants and
catering as a further distribution channel where outstanding growth
opportunities beckon for the newly developed "Revolution" compact juicer.
As a consequence of the time-consuming changeover of the concession
business to the new "Sinalco" franchise brand, the Non-alcoholic Beverages
segment was unable to maintain the high level of revenues and sales volumes
recorded in the previous year in this reporting period. Sales of Group
company Vivaris Getränke GmbH & Co. KG reached 1.56 million hectolitres of
soft drinks and mineral water, which was below the 1.69 million hectolitres
sold in the prior year. As a result of this, revenues declined to EUR 42.9
million from EUR 50.0 million in the previous year. Sales of mineral waters
remained at a stable level despite adverse regional weather conditions in
the summer of 2015, and there was a strong 58% increase in sales of "Mio
Mio Mate". The mate-based drink which was launched in 2012 is now listed by
food retailers throughout most of Germany: "Mio Mio Mate is a perfect
example of the Berentzen Group's innovative strength and our ability to
establish trends that are a perfect fit with the taste and lifestyle of
young people. We intend to gradually expand the Mio Mio brand family in
order to win even more customers."
Spirits: domestic growth bucking the market trend, international operations
still difficult
The spirits business developed well overall, with sales volumes rising by
2.9% to 79.1 (76.8) million 0.7-litre bottles.
Sales in Germany rose by 6.0% against the market trend (according to market
researcher The Nielsen Company, the overall market contracted by 0.4%).
This growth benefited from increases of 3.1% and 7.9% respectively in sales
of the successfully revitalised umbrella brands "Berentzen" and "Puschkin"
together with sales of private and secondary labels, which saw growth of
7.7%. Innovative promotional concepts coupled with a competitive cost
structure served to back up the outstanding access to the market enjoyed by
the Company.
At the same time, the sales volume of branded spirits as well as private
and secondary labels internationally declined by 11.4% to 11.9 (13.4)
million 0.7-litre bottles. Among other things, this can be attributed to
political developments in Turkey and Eastern Europe, which had a tangible
impact on local tourism and general consumption levels.
As a result, revenues from the spirits segment decreased by 1.6% to EUR
98.4 (100.0) million compared to the previous year.
Outlook remains positive
The Berentzen Group remains committed to the key objective of sustainably
enhancing its financial performance by generating profitable growth. In
line with this goal, the Executive Board is forecasting a strong increase
in the consolidated operating profit and EBITDA in 2016. The Executive
Board believes that there is still significant further growth potential in
the Fresh Juice Systems segment to be unlocked. The aim is to leverage the
competitive advantage of the "Citrocasa" brand as a system vendor to tap
more international markets, especially in Europe, the United States and
Asia. Now that the changeover in the concession business has been
completed, the Executive Board expects to see strong sales growth in
Sinalco products in 2016, while further initiatives will have a positive
impact on the group's proprietary brands. The successful development of the
umbrella brands "Berentzen" and "Puschkin" will continue to be prioritised
with a strong promotional push on social media channels. The strategy in
the international markets will be adapted in order to reflect local changes
in underlying political and economic conditions.
About the Berentzen Group:
The Berentzen Group is one of the leading beverage groups in Germany and
simultaneously one of the oldest producers of spirits with a history going
back over 250 years. With its well-known brands, above all "Berentzen" and
"Puschkin", and attractively priced private-label products,
Berentzen-Gruppe Aktiengesellschaft is able to respond competently,
comprehensively and quickly to the demands of consumers in Germany and
elsewhere. With its Vivaris Getränke GmbH & Co. KG subsidiary, the Company
also has a strong presence in the field of non-alcoholic beverages. Through
its TMP Technic-Marketing-Products GmbH subsidiary, an international vendor
of fresh juice systems under the "Citrocasa" brand, the Berentzen Group is
also moving more strongly into modern, health-oriented markets.
For more information:
Berentzen-Gruppe Aktiengesellschaft
Antje Schwindeler
Corporate Communications
+49 5961 502215
[email protected] / www.berentzen-gruppe.de
Engel & Zimmermann AG, Unternehmensberatung für Kommunikation
Sybille Geitel / Dr Alexander Baer
+49 89 8935633
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24.03.2016 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 502-268
E-mail: [email protected]
Internet: 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
End of News DGAP News Service
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448573 24.03.2016
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