Berentzen-Gruppe (BEZ) Q4 2025 earnings summary

Executive summary

• Consolidated revenues for 2025 were EUR 162.9 million, significantly below the previous year due to market decline and the sale of the Grüneberg site.

• Spirits market saw a third consecutive year of volume decline, with no trend reversal in sight.

• Despite revenue and profit declines, gross profit margin was maintained at prior-year levels (44.0%).

• Consolidated profit turned positive, with a significant increase compared to the previous year.

• The new corporate strategy, Berentzen Evolve 2030, was introduced to address market challenges and drive future growth.

Financial highlights

• Revenues decreased by 10.7% year-over-year to EUR 162.9 million.

• Consolidated profit was EUR 2.4 million, a turnaround from a EUR 1.3 million loss in 2024, mainly due to the absence of a EUR 4.8 million one-off loss from the Grüneberg sale.

• EBITDA dropped 11.2% to EUR 17.1 million; EBIT declined 19.9% to EUR 8.5 million.

• Net debt reduced to EUR 3.7 million at year-end 2025, with an improved dynamic gearing ratio of 0.21.

• Dividend proposal of EUR 0.11 per share, matching last year, with a yield of 3.0%.

Outlook and guidance

• 2026 revenue guidance: EUR 163–173 million, indicating expected growth.

• EBITDA forecast: EUR 16.1–18.1 million; EBIT forecast: EUR 7.0–9.0 million.

• Major projects under the Berentzen Evolve 2030 initiative are set to drive future growth.

• 2026 is positioned as a transitional year with significant investments and strategic projects.