Katjes International posts 9 percent growth at mid-year

Sales revenues were up 9.3% hitting € 102.7 m, from € 94.0 m in the same period the year before. This increase resulted from turnover gains and the full consolidation of Festivaldi from the steady development in the brand business segment. The growing revenues generated from the sale of Wick cough lozenges are another contributing factor.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) hit € 3.1 m in the first half of the year. The increases in profitability owing to the development of the brand business, the company informs, were offset in particular by the price hikes in the cocoa commodity market. It should also be kept in mind that, by virtue of seasonal effects, the first half of the year is generally not as strong as the second. The company has kept its equity ratio steady at about 22%. In the first half of the year, Katjes International acquired the remaining 50% of shares in Dutch liquorice maker Festivaldi B. V., making it the sole proprietor of that manufacturer that produces the Netherland's best-selling liquorice product in terms of quantity.

"We're looking back on a very strong first half year. In keeping with our strategy we've put the focus on driving growth in that period. At the same time, we are striving to boost our profitability amid rising commodity prices. As for the current business year, we remain confident and endorse the forecast in our consolidated accounts. The second half of the year, which is traditionally stronger than the first, puts us in an optimistic mood that we can achieve these goals", explains Tobias Bachmüller, managing partner for Katjes International.