- Consolidated revenues of EUR 73.5 million below previous year as expected
- Consolidated operating profit (EBIT) remains positive at EUR 2.1 million
- Updated forecast for the 2020 financial year takes effects of Coronavirus pandemic into account
Haselünne, July 22, 2020 – Berentzen-Gruppe Aktiengesellschaft, which is listed on the Regulated Market (General Standard) of the Frankfurt Stock Exchange (ISIN: DE0005201602), today announced its preliminary results for the first half of the 2020 financial year. According to these results, the corporate group has achieved consolidated revenues of EUR 73.5 million - a minus of 7.2 % compared to the same period of the previous year (EUR 79.2 million). Consolidated operating profit before interest and taxes (consolidated EBIT) for the first six months of the 2020 financial year are expected to amount to EUR 2.1 million (H1 2019: EUR 5.0 million), while consolidated profit before interest, taxes, depreciation and amortisation (consolidated EBITDA) are expected to amount to EUR 6.4 million (H1 2019: EUR 9.0 million).
"As we expected and as we have already communicated several times in the past months, we as corporate group have felt the effects of the Coronavirus pandemic much more strongly in the second quarter than before", explains Oliver Schwegmann, CEO of Berentzen-Gruppe Aktiengesellschaft, and continues: "The massive restrictions in public and private life, especially the temporary complete closure of the gastronomy and the loss of important consumption highlights for us such as Easter, May holidays as well as celebrations and festivals of all kinds, have had a significant impact. Nevertheless, we succeeded in closing the second quarter with a positive consolidated operating profit. This was due in particular to the countermeasures that were introduced, such as a reduction in investment activity, a cutback in marketing expenditure and the temporary implementation of short-time working in particularly badly affected divisions. "So far, we have come through the pandemic with a black eye and have not been affected as badly as many other sectors and companies - including the beverage industry," said Schwegmann.
Outlook for the remaining financial year
The Berentzen Group had withdrawn its original forecast for the 2020 financial year on March 26 against the background of the Coronavirus pandemic and has not been able to make a new forecast due to the associated uncertainties. Based on the business figures for the first half of the 2020 financial year announced today and a validation of simulations carried out with regard to the continued expected effects of the pandemic, the Berentzen Group has now also published an updated forecast. According to this, the group of companies now expects consolidated sales revenues in a range of EUR 153.0 to 160.0 million, a consolidated EBIT between EUR 4.0 and 6.0 million and a consolidated EBITDA between EUR 13.0 and 15.0 million for the 2020 financial year.
"With this outlook, we are assuming that social life and thus also consumer behaviour in the markets that are important for us will recover slowly and piecemeal in the coming months," said Schwegmann. However, more significant impulses for business success is not expected until the fourth quarter of the financial year, which is usually stronger anyway, while the sales and earnings situation in the third quarter is likely to be affected even more strongly by the negative impact of the Coronavirus pandemic. "Overall, however, this forecast also reflects the fact that we cannot expect the usual social life with its parties and celebrations during the rest of the year," Schwegmann concluded.
On August 11, 2020, Berentzen Group will publish its Group Half-yearly Financial Report with further information on the first half of the 2020 financial year.