Berentzen–Gruppe Aktiengesellschaft : H1 2024 prelims earnings beat. Earnings guidance for 2024 raised
>Significant increase in H1 2024 preliminary earnings figures - Berentzen’s preliminary H1 2024 revenue of € 88.1 was almost flat y-o-y (-1%), but missed our forecast by 4.3%. The continuing slump in consumer spending as a result of inflation and, in particular, a lack of marketing initiatives due to difficult price negotiations with key trading partners led to a decline in sales volumes overall. On the positive side, EBITDA (€ 9.4m, +29% y-o-y) and EBIT (€ 5.1m, +56%...Berentzen Gruppe AG is a Germany-based producer and distributor of liquors and non-alcoholic beverages. Under the Berentzen brand, the Company offers corn brandies and a range of fruit brandies made from apples, pears, wild and black cherries, plums, damsons, blackcurrants and red fruits, as well as from passion fruits and melons. Under the Puschkin brand, the Company offers vodka and fruit-flavored vodka, including blackberry and blood orange flavors. Other brands and products include Doornkaat, Strothmann, Bommerlunder Aquavit, Amaro Montenegro, Vecchia Romagna and Polar Limes, among others. In addition, the Company offers non-alcoholic beverages under the Vivaris and Sinalco brands. The Company operates through various subsidiaries across Germany.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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