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Berentzen-Gruppe AG
Earnings Release • Sep 14, 2017
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Ad-hoc | 14 September 2017 19:05
Berentzen-Gruppe Aktiengesellschaft: Berentzen-Gruppe lowers earnings forecast for the 2017 financial year
Berentzen-Gruppe Aktiengesellschaft / Key word(s): Profit Warning/Forecast
14-Sep-2017 / 19:05 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Disclosure of an inside information according to Article 17 MAR
Berentzen-Gruppe Aktiengesellschaft: Berentzen-Gruppe lowers earnings forecast for the 2017 financial year
Haselünne, September 17, 2017
Berentzen-Gruppe Aktiengesellschaft: Berentzen-Gruppe lowers earnings forecast for the 2017 financial year
Berentzen-Gruppe Aktiengesellschaft, which is traded on the regulated market (General Standard) of the Frankfurt Stock Exchange (ISIN: DE0005201602), updates its forecasts for the anticipated development of financial performance of the group for the 2017 financial year it made in the annual report for the 2016 financial year and reaffirmed recently in its group half-yearly financial report 2017. This is due in particular to a decrease in the earnings contribution from the Non-alcoholic Beverages segment, which is expected to be lower than recently anticipated.
The Berentzen Group is now forecasting an adjusted consolidated operating profit (consolidated EBIT) of EUR 9.1 to 10.1 million (previously: EUR 11.2 to 12.4 million) for the 2017 financial year. Adjusted consolidated operating profit before depreciation and amortisation (consolidated EBITDA) is expected to be in the range of EUR 16.0 to 17.7 million (previously: EUR 17.8 to 19.7 million). Consolidated revenues are expected to remain unchanged at EUR 170.4 to 179.2 million]. The forecast for the segment earnings (contribution margin after marketing budgets) in the Non-alcoholic Beverages division is updated to EUR 19.2 to 21.2 million (previously: 20.7 to 22.9 million). The forecast for the segment earnings in the Fresh Juice Systems division, which was recently adjusted in the group half-yearly financial report 2017 to be in a range of EUR 7.3 to 8.1 million, remains unchanged, although this is likely to tend towards the lower end of the forecast range at the end of the financial year. The forecast for the segment earnings (contribution margin after marketing budgets) in the division Other Segments is updated to EUR 4.7 to 5.2 million (previously: 5.3 to 5.8 million). The segment earnings of the division Spirits is confirmed. For a more detailed explanation of these performance indicators, please refer to the annual report 2016 of the Berentzen Group Aktiengesellschaft, page 56, published on the corporate website www.berentzen-gruppe.de, which can be accessed at the following link: https://www.berentzen-gruppe.de/fileadmin/dateien/Investoren/Finanzberichte_Meldungen/Group_Annual_Financial_Report_2016.pdf.
The adjustments essentially result from a series of individual, in each case segment-specific influencing factors.
In the Non-alcoholic Beverages segment, in addition to a weak seasonal business during this summer, a lower gross profit, in particular resulting out of the concessionary business with brand drinks from the Sinalco Group as well as sales-related in view of a different product, filling containers and customer mix than previously assumed, is expected.
In the Fresh Juice Systems division, the shortage of the availability of fruits (oranges), which has been observed for quite some time, due to poor harvests caused by bad weather conditions and restrictions in the quality of the fruits, is ongoing unabated. As a consequence, persistently high or further increases in purchasing prices and expenses relating to quality assurance and supply with corresponding effects on gross profit are expected. Furthermore, according to an updated assessment by the Berentzen Group, the planned growth rate for the sale of the system component juicers is not expected to be achieved.
In the division of Other Segments, that especially includes the international business with branded spirits, the expected profit contribution from the business activities in Turkey will likely be lower than forecast, this also against the background of a revaluation of the specific local conditions of markets and industries. Among other things the earnings forecast in the division Other Segments for the 2017 financial year is updated.
The interim report Q3/2017 of the Berentzen Group Aktiengesellschaft is scheduled for publication on October 27, 2017.
Information regarding the issuer of this announcement
Berentzen-Gruppe Aktiengesellschaft with its registered office in Haselünne, Germany, is a listed company in the beverages industry operating in the following segments: Spirits, Non-alcoholic Beverages, and Fresh Juice Systems.
ISIN: DE0005201602
WKN: 520160
Ticker symbol: BEZ
Listings: Regulated Market (General Standard) in Frankfurt, XETRA
OTC trading in Berlin, Düsseldorf, Hamburg, Hanover, Munich, Stuttgart
**Berentzen-Gruppe Aktiengesellschaft
Ritterstr. 7
49740 Haselünne, Germany
Phone: +49 (0) 59 61 502 0
Fax: +49 (0) 59 61 502 268
Email:** [email protected]
Internet: www.berentzen-gruppe.de/en/
**Contact
Jochen Klein**
Investor Relations Manager
Telefon: +49 (0) 5961 502 219
Mobil: +49 (0) 151 1562 8102
Telefax: +49 (0) 5961 502 550
E-Mail: [email protected]
14-Sep-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| Language: | English |
| Company: | Berentzen-Gruppe Aktiengesellschaft |
| Ritterstraße 7 | |
| 49740 Haselünne | |
| Germany | |
| Phone: | +49 (0)5961 502-0 |
| Fax: | +49 (0)5961 502-550 |
| E-mail: | [email protected] |
| Internet: | www.berentzen-gruppe.de |
| ISIN: | DE0005201602, DE000A1RE1V3, |
| WKN: | 520160, A1RE1V |
| Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| End of Announcement | DGAP News Service |