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Hamburg, 23 Aug 2022

Group companies hold their own in a challenging environment

The maxingvest Group generated revenues of € 10,883 million in the 2021 financial year, up 8% organically and 7% nominally on the previous year’s figure of €10,158 million.

The Group generated EBIT of € 1,114 million (previous year: € 949 million) for the reporting year, achieving an EBIT margin of 10.2 % (previous year: 9.3 %). The 2021 financial year continued to be dominated by the persistent effects of the COVID-19 pandemic. In this challenging environment, both Beiersdorf and Tchibo managed to hold their own.

Tchibo delivers solid performance
In the pandemic year 2021, the multi-channel distribution system of Tchibo made a significant contribution to getting through the crisis in solid shape. The positive performance of the coffee and consumer goods business in online and supermarket retail more than compensated for the declines in the Tchibo Shops and out-of-home business caused by pandemic-related closures. Towards the end of the year, the disruption of global supply chains was already having a strong dampening effect on the business.

At € 3,256 million, revenues were 3 % higher organically and 4 % higher nominally than the previous-year figure of € 3,133 million. EBIT amounted to € 176 million (previous year: € 90 million), and the EBIT margin was 5.4% (previous year: 2.9%).

Beiersdorf with good growth
At Beiersdorf, sales increased organically by 10% and nominally by 9% to €7,627 million (previous year: €7,025 million).
EBIT without special effects reached € 993 million (previous year: € 906 million). The EBIT margin excluding special effects was 13.0 % (previous year: 12.9 %).

The outlook for Tchibo is determined by the ongoing disruption of global supply chains, Russia’s invasion of Ukraine, the further course of the COVID-19 pandemic and the resulting impact on business operations, the sharp rise in energy and commodity prices, as well as high inflation and the resulting significant decline in consumer spending. Against this backdrop, Tchibo expects revenues to be below the previous year’s level, with a significant decline in EBIT.

Beiersdorf expects Group sales to grow at the upper end of the mid-single digit range. The operating EBIT margin is expected to be at the previous year’s level.

Media enquiries:
Arnd Liedtke
Director Corporate Communications
maxingvest ag
Alter Wandrahm 17/18, 20457 Hamburg
Phone: +49 40 63 87- 21 24, Fax: +49 40 63 87- 25 30,

About maxingvest:
The maxingvest Group consists of the holding company maxingvest ag and the two operating companies Tchibo and Beiersdorf. The holding company is family-owned and, as a management holding company, focuses on strategic corporate manage-ment. maxingvest ag owns 100% of the shares in Tchibo GmbH and controls more than 50% of the voting rights in Beiersdorf AG.

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