Berentzen-Gruppe (BEZ) Q1 2025 earnings summary

Executive summary

• Consolidated revenues declined by 4.7% year-over-year to EUR 39.0 million in Q1 2025, with adjusted EBIT and EBITDA remaining positive but slightly below prior-year levels.

• No significant events impacted business performance during the reporting period.

Financial highlights

• Adjusted consolidated EBIT was EUR 1.2 million (down from EUR 1.3 million year-over-year); adjusted EBITDA was EUR 3.3 million (down from EUR 3.4 million).

• Operating cash flow decreased to EUR 2.3 million from EUR 2.9 million year-over-year.

• Equity ratio improved to 35.9% (from 34.0%), and dynamic gearing ratio improved to 0.91 (from 1.37).

• Cash flow from operating activities was a net outflow of EUR 9.7 million, mainly due to seasonal reduction in alcohol tax liabilities.

Outlook and guidance

• Full-year 2025 forecasts for revenue, EBIT, and EBITDA are confirmed, with expectations of positive financial performance.

• Forecasts remain unchanged from the 2024 Annual Report, but international trade conflicts and economic volatility increase uncertainty.