Berentzen-Gruppe (BEZ) Q3 2024 earnings summary

Executive summary

• Consolidated revenues remained stable at EUR 133.5 million compared to EUR 134.6 million in the prior year period, with significant improvements in adjusted EBIT, EBITDA, and operating cash flow year-over-year.

• The sale and planned closure of the Grüneberg site in the Non-alcoholic Beverages segment led to an impairment loss and other exceptional expenses.

Financial highlights

• Adjusted consolidated EBIT rose to EUR 7.6 million from EUR 5.0 million, and adjusted EBITDA increased to EUR 14.1 million from EUR 11.2 million year-over-year.

• Operating cash flow improved to EUR 10.5 million from EUR 5.9 million, while the equity ratio slightly decreased to 32.5% from 33.6%.

• Gross profit margin increased to 46.0% from 42.8%, driven by higher selling prices and lower material costs.

Outlook and guidance

• Revenue and earnings guidance for 2024 remains unchanged, with full-year revenue expected between EUR 185.0–195.0 million, EBIT between EUR 9.0–11.0 million, and EBITDA between EUR 18.0–20.0 million.

• Management expects continued positive financial performance, subject to economic and industry conditions.