Berentzen-Gruppe Aktiengesellschaft publishes preliminary quarterly earnings figures: earnings growth at the end of the third quarter - earnings forecast for financial year 2021 raised

Berentzen-Gruppe Aktiengesellschaft (ISIN: DE0005201602), listed on the Regulated Market (General Standard) of the Frankfurt Stock Exchange, today announced business results ahead of schedule for the third quarter of the 2021 financial year. According to these results, consolidated operating profit before interest and taxes (consolidated EBIT) in the first nine months of the 2021 financial year is expected to be EUR 5.1 million - a significant increase of 41.7 percent compared to the previous year's figure (Q3 2020: EUR 3.6 million). Consolidated earnings before interest, taxes, depreciation and amortization (consolidated EBITDA) are expected to increase to 11.9 million euros (Q3 2020: 10.2) million euros. Consolidated net sales are expected to amount to 105.8 million euros - a decrease of 6.3% compared to the same period of the previous year (Q3 2020: 112.9 million euros). Adjusted for the effect mentioned several times from the discontinuation of a contract filling agreement in the Non-alcoholic Beverages division, which is strong in terms of sales but at the same time weak in terms of earnings, however, the decline in sales would only amount to a slight 0.3%.

Oliver Schwegmann, Executive Board member of Berentzen-Gruppe Aktiengesellschaft
© Berentzen-Gruppe Aktiengesellschaft
Source:  Company news

Due to the significant year-on-year deviations - especially with regard to the significantly higher key earnings figures of consolidated EBIT and EBITDA - Berentzen-Gruppe Aktiengesellschaft today informed the capital market ahead of time about the quarterly results in a corresponding announcement. Against this background, the corporate group also announced the adjustment of the annual forecast for the financial year 2021.

"As already communicated by us in the context of our consolidated half-year financial report, the impact of the coronavirus pandemic - particularly in the first quarter of 2021 - as well as the termination of a contract filling business in the Non-alcoholic Beverages segment have affected the scope of our business activities and led to a cumulative decline in sales. However, in the last two quarters we managed to significantly reduce the initial revenue shortfall from the first quarter," explains Oliver Schwegmann, Executive Board member of Berentzen-Gruppe Aktiengesellschaft. At the same time, the consolidated gross profit was fortunately kept almost stable in the first nine months despite the decline in revenues compared to the same period of the previous year due to a significantly better consolidated gross profit ratio. This, together with efficient cost management, had resulted in the Group achieving a significant increase in consolidated EBIT and EBITDA. "The figures presented today show that we are successful with our profitability strategy - even in these economically challenging times," Schwegmann added. He added that it was particularly pleasing that the Berentzen Group was able to significantly improve its key earnings figures in the second and third quarters compared to the respective quarters of the previous year.

Outlook for the rest of the financial year
Against the backdrop of the business performance to date, the Group is today adjusting its forecast for the year. Specifically, the Group now expects consolidated EBIT of between EUR 6.0 and 7.0 million (previously: EUR 4.0 to 6.0 million) and consolidated EBITDA of between EUR 15.0 and 16.0 million (previously: EUR 13.0 to 15.0 million). Consolidated sales will amount to at least 145.0 million euros and at most 150.0 million euros (previously: 152.0 to 158.0 million euros). "In view of the successes already achieved by the end of the third quarter, we now expect a significantly better result for fiscal 2021 than originally assumed. However, the year-end business around Christmas and New Year's Eve, which is so important for us, remains subject to some uncertainties against the background of the unforeseeable further development of the coronavirus pandemic," Schwegmann concluded.

The Berentzen Group will announce further information on the first nine months of the 2021 financial year as well as details on the individual business units with the scheduled publication of the Q3/2021 interim report on October 21, 2021.

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