After nine months: Underberg Group sales slightly below previous year - profit within target range

Semper idem Underberg AG has achieved a stable performance in Q3 (October to December 2023) and is thus almost at the same level as in the same period of the previous year after nine months of the current financial year. In the first three quarters of 2023/24, the group generated revenue of EUR 109.2 million, 0.9 per cent less than in the previous year. Profits, on the other hand, developed within the target corridor.

"Even though inflation is slowly declining, consumers are still very cautious - this applies to the retail sector and the catering industry in particular. In combination with the necessary price increases for our products last year, this is having a negative impact on our sales and operating result," says Michael Söhlke, CEO of the Group. "In this environment, Haus Underberg has recorded solid business development - overall, we are cautiously optimistic about the future."

A fortnight ago, Semper idem Underberg AG announced that its liabilities had been reduced by EUR 10 million through the early repayment of the 2018/2024 bond using its own funds. The shareholder also announced that Dr Ludwig Ruder will replace his grandmother Christiane Underberg on the Supervisory Board and will act as Deputy Chairman in future. "The family's commitment and dedication are further proof that we are on the right track," Michael Söhlke continued. "The clear focus on internationalisation, innovation and our successful own brands as well as the strong distribution brands will increasingly bear fruit."