DGAP-News: Berentzen-Gruppe Aktiengesellschaft / Key word(s): Half Year Results
P R E S S R E L E A S E No. 14/2018
Berentzen-Gruppe Aktiengesellschaft publishes its half-yearly financial report
- Consolidated earnings before interest and taxes rise by 10.1% to EUR 4.6 million
- Consolidated revenues decline slightly to EUR 78.4 million
- Earnings forecast for the full year 2018 reaffirmed
"The substantial gains in EBIT and EBITDA are proof of our increased profitability", explained Oliver Schwegmann of the Berentzen-Gruppe Aktiengesellschaft Executive Board. He said that the higher gross profit margin was the main reason for the increased earnings. "However, we are also very proud of the fact that we more than doubled our consolidated profit, thanks to lower interest expenses", Schwegmann added.
He went on to say that the company originally had higher expectations for consolidated revenues in the first half of 2018. "Compared to the first quarter, however, we were able to significantly reduce the revenue gap, thanks to the positive development of revenues in the second quarter", Schwegmann said. Revenues for the first three months of this year were 6,2 % below the prior-period figure, whereas the revenue change for the first six months was only -2.1%. Consolidated revenues in the second quarter of this year were higher than in the second quarter of 2017, he said.
The persistent challenges in the Fresh Juice Systems segment were one of the chief reasons for the revenue decline, Schwegmann said. As reported in the last quarterly report, unit sales of fruit presses in the important French market were markedly weak. "We must recognize that we placed too much of an operational focus on sales in the past years and were not ambitious enough in our efforts to develop new, innovative equipment. However, precisely that is essential to generating sustainably high sales especially in our established markets. In the Fresh Juice Systems segment, we must focus even more on the development, production and distribution of innovative equipment in the future so as to create the right stimulus for growth", Schwegmann said.
In the Non-alcoholic Beverages segment, the Group's own brands were very successful. This was especially true of Mio Mio, which saw a further, almost 36 percent rise in sales volume, Schwegmann said. He also pointed out that the mineral water business exhibited a positive development in the first half of 2018. "This shows us that our focus on branded products is the right strategy in the Non-alcoholic Beverages segment," Schwegmann said, adding that "Revenues increased over the already strong first half of 2017." By contrast, revenues in the Spirits segment were slightly lower, although the Group's core brands exhibited a positive development on the whole. "The sales volume of our Puschkin brand spirits was up 15 percent, despite the highly competitive environment", Schwegmann said.
Outlook for the remainder of the 2018 financial year
About the Berentzen Group:
14.08.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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