Oetker Group defies difficulties with an increase in sales

The Dr. Oetker Group has shown remarkable growth in its balance sheet for the fiscal year 2023. Despite a challenging economic environment characterized by global conflicts and creeping inflation, the food division increased its revenue by 6.9 percent to 4.17 billion euros. The company from Bielefeld, known for a wide range of products from pizzas to baking mixes, is satisfied with the achievements despite all adversities. Albert Christmann, who leads the executive board, sees an "overall decent" development for the fiscal year 2023. Considering the tense situation due to wars in Ukraine and Gaza and consumers' noticeable reluctance to spend due to increased product prices, this seems to be a solid performance indeed. However, a look at profitability is denied as the group remains secretive when it comes to profit figures. The consolidated revenues also include contributions from Coppenrath & Wiese, the renowned manufacturer of frozen baked goods. Here, the company recorded a remarkable sales increase of 5.6 percent to 520 million euros, driven by the anticipated ubiquitous price adjustments. For the year 2024, Dr. Oetker predicts a continued positive sales development in the food division, which currently employs around 16,500 people – a slight decrease of about 400 individuals compared to the previous year, likely also as a result of the sale of the business in Russia. Interested eyes will turn to the company again in mid-June when the figures for the entire group will be published. Then we will learn more about the success of the other business areas such as Flaschenpost, the Radeberger brewery patronage, and the company-owned hotels.