Berentzen Group Aktiengesellschaft publishes preliminary figures for the first half of the year: Significantly positive but lower consolidated operating result. Back on track for growth. Weak spirits market.

Berentzen-Gruppe Aktiengesellschaft (ISIN: DE0005201602), listed on the Regulated Market (General Standard) of the Frankfurt Stock Exchange, today published preliminary figures for the first half of the 2025 fiscal year. In the first half of 2025, the group recorded sales revenues of €79.9 million (H1/2024: €88.4 million; adjusted for sales revenues generated last year at the Grüneberg facility, which has since been sold: €84.7 million). Consolidated operating profit before interest and taxes (consolidated EBIT) fell to €3.2 million in the first six months (H1/2024: €5.1 million). Operating profit before interest, taxes, depreciation, and amortization (consolidated EBITDA) amounted to €7.4 million (H1/2024: €9.4 million).

“Development in the first half of 2025 thus fell short of our expectations, which is primarily attributable to very challenging market conditions in the spirits segment,” said Oliver Schwegmann, CEO of the Berentzen Group. The ongoing and, in some cases, increasing consumer reluctance to purchase alcohol has led to a significant decline in sales and revenue in the spirits market in Germany so far this year. "Of course, we are also feeling the effects of this general market weakness, especially in our branded spirits business. For example, there were no promotions with discount retailers for our Berentzen brand liqueurs in the first half of the year. This was one of the main reasons why the second quarter was weak for our branded spirits,“ says Schwegmann, but he adds: ”At the same time, we also saw developments in the first half of the year that really pleased us. Our Mio Mio brand is finally back on its dynamic growth path with a 13.2 percent increase in sales compared to the same period last year. And with our premium and medium-priced products from our private label spirits division, which are strategically important, especially for our international business, we achieved double-digit sales growth. Overall, our core strategic areas therefore recorded an increase in sales. This shows once again how important and right it was to position ourselves broadly as a group of companies.

As a result of the decline in consolidated sales revenues in the spirits segment and increased marketing expenses for the Berentzen brand, segment earnings were lower than in the first six months of the previous year. This was reflected in consolidated EBIT and consolidated EBITDA. In addition, the costs of the intensified marketing initiatives surrounding the Mio Mio brand had a negative impact on the two aforementioned consolidated earnings figures. “We made a conscious decision to increase the media presence of these two brands, which are so important to us, despite the current environment in order to achieve long-term and sustainable growth. Weakening markets can also be an opportunity to distinguish ourselves by gaining market share. That is exactly what we have already achieved in the first six months,” emphasizes Schwegmann.

“Despite these operational developments, significantly lower interest expenses and the absence of special items ultimately led to an improvement of €3.5 million in consolidated earnings in the first half of 2025,” Schwegmann adds.

Further outlook for the 2025 financial year
In light of developments in the first half of the year, the Berentzen Group is adjusting its forecast for the 2025 financial year. “When we drew up our forecast at the beginning of the year, we still assumed that the very poor consumer sentiment that manifested itself in 2024 would brighten significantly again in 2025. Instead, this trend has continued in 2025 and has even intensified across the entire alcoholic beverage market,” explains Schwegmann, adding, “Despite this market environment, we expect the marketing initiatives outlined above to take effect later in the year, enabling us to achieve sales revenues and earnings figures in the second half of the year that are on par with the strong levels of the previous year.” The Group now expects consolidated operating profit (consolidated EBIT) for the full 2025 financial year to be in the range of €8.0 to €9.5 million (previously: €10.0 to €12.0 million; 2024: EUR 10.6 million) and consolidated operating earnings before depreciation and amortization (consolidated EBITDA) of between EUR 16.9 and 18.4 million (previously: EUR 19.0 to 21.0 million; 2024: EUR 19.3 million). Consolidated revenues are now expected to range between €172.0 million and €178.0 million (previously: €180.0 million to €190.0 million; 2024: €181.9 million).

"We see light this year—as with Mio Mio—but unfortunately also shadows—for example, with branded spirits. However, we remain convinced that we will be able to return to solid growth momentum in the future with both existing themes and new concepts. Furthermore, we assume that the current weakness of the spirits market is primarily due to the current general uncertainty among consumers and will therefore only be a temporary phenomenon," Schwegmann concluded.

The final financial figures and further information on the first half of the 2025 fiscal year and the annual forecast will be published as planned on August 14, 2025, with the Group's half-year financial report.