Oetker Group has reported a 6.3% increase in sales to exceed €6.9 billion in its financial year 2023 marked by market disruptions.
Oetker Group witnessed growth across all business divisions during the year, with its food, beer, and non-alcoholic beverages segments accounting for the highest contribution to sales growth.
In Germany, the company's sales increased by 7.1% to €3.9 billion, while the percentage of sales generated outside of Germany remained almost unchanged compared to the previous year at 43.5%.
The company has forecast a moderate increase in sales for its financial year 2024 and expects bottlenecks in the delivery and supply chains to decline.
It also plans to increase its investment budget for the year as it seeks to drive innovation and the expansion of digital expertise and sustainability initiatives.
Divisional Performance
The food division, comprising Dr. Oetker Food and Conditorei Coppenrath & Wiese, reported a 4.6% increase in sales to €4.1 billion.
Conditorei Coppenrath & Wiese saw sales growth of 5.8%, driven mainly by price increases, while Dr. Oetker reported a 4.4% increase.
In the pizza category, sales rose significantly compared to the previous year as the company introduced 'My Pizza Slice' mini pizzas in Scandinavian countries and implemented targeted promotional activities.
The beer and non-alcoholic beverage segment - Radeberger Group - achieved sales growth in line with expectations at 8.3% to exceed €2 billion.
Radeberger Group's investments during the year amounted to €71 million, or 9.9% more than the previous year's figure of €65 million.
The 'other interests' division achieved a 9.8% increase in sales to €754 million, driven by the performance of online supermarket flaschenpost, IT service provider OEDIV, and the Hôtel du Cap-Eden-Roc in Antibes.
