Siblings Oetker Beteiligungen KG Faces Challenges Amid Climate Risks and Raw Material Price Hikes
Siblings Oetker Beteiligungen KG, after experiencing an impressive 18 percent revenue growth in the first full reporting year of 2022, faced a significant slowdown in 2023 with just under a one percent revenue increase, reaching 249 billion euros. The corporate group, established as an independent holding company at the end of 2021, encompasses various business areas including sparkling wine, wine, spirits, food, specialty chemicals, and hotels. Despite the challenges posed by climate risks, rising raw material prices, geopolitical tensions, inflation, and consumer reticence, the two brothers leading the company expressed satisfaction with the performance amidst such difficulties. The HenkellFreixenet division, a significant part of Siblings Oetker Beteiligungen KG responsible for a substantial portion of the revenue from alcoholic beverages, faced pressures in the volatile market. Nevertheless, HenkellFreixenet, recognized as the world's largest sparkling wine producer by the IWSR Institute of Wines and Spirits Research, managed to achieve a record turnover in 2023, albeit with a slower growth rate of 41 percent compared to previous years of 85 percent and 115 percent. As the corporate group navigates through the challenges ahead, the industry will be closely watching how Siblings Oetker Beteiligungen KG adapts and evolves to overcome the hurdles in its path.
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