In a deteri­o­rating economic environment, maxingvest Group can rely on the strength of its stable structure, along with solid profitability and finances. As a value-driven family business, maxingvest ag with its two strong brand groups Beiersdorf and Tchibo is focused on long-term value creation and stability.

In the 2008 business year, maxingvest ag reported a 1.4 percent increase in Group turnover, from €9,066 million to €9,194 million. 56.8 percent of the revenue was from inter­na­tional business, which showed partic­u­larly strong growth of 7.1 percent.

The Group’s earnings before interest and taxes (EBIT) increased by 38.4 percent during the 2008 reporting period, from €597 million to €826 million. The EBIT margin as percentage of net sales amounted to 9.0 percent (previous year: 6.6 percent). The equity ratio rose by 1 percentage point to 60 percent. Net liquidity increased to million €1,434 (previous year: €968 million).

The average number of employees during the year was 33,978 (previous year: 30,683).

Beiersdorf continued to outperform the market in 2008

The Beiersdorf subgroup generated consol­i­dated revenue of €5,971 million in 2008 (previous year: €5,507 million), a 8.4 percent year-on-year increase (organic growth: 7.5 percent). The rise is attributable mainly to the Consumer department, which again outper­formed the market, growing by 10.0 percent (organic growth: 8.6 percent). The three global brands in particular – NIVEA, Eucerin and La Prairie – contributed to the increase in revenue, reporting double-digit growth rates. In the tesa division, turnover remained at €846 million.

EBIT from the Beiersdorf subgroup increased from €616 million to €797 million. Beiersdorf generated net income in the amount of €567 million, up from €442 million the previous year. Apart from an improved operating result, other factors behind this increase included special items associated with the sale of the Futuro business and the BODE group.

Tchibo: Well on its way – restruc­turing measures have resulted in initial perfor­mance improve­ments

In the Tchibo subgroup, turnover was on plan at €3,223 million. Declines during the first half of the year resulted mainly from the stream­lining of the sales structure. In the second half of the year, additional measures such as invest­ments in Tchibo-branded depots and shops, along with a strong focus on specific products as part of the claim “Only at Tchibo” resulted in revenue increases and a signif­icant reduction of stocks. EBIT increased to €71 million (previous year: €23 million).

“The systematic imple­men­tation of our ‘Stärken stärken 2010’ strategy yielded initial results in the second half of the year. We met our inter­me­diate target for 2008,” commented Dr. Arno Mahlert, CEO of maxingvest ag. “The results of the first quarter 2009 have confirmed this positive devel­opment; Tchibo is well on its way.”

maxingvest ag:independent and finan­cially sound for the future

The economy indicates that 2009 will be a year of challenges. “We are confident that we are in good shape with our strategy, the measures already initiated, and the strong brands in our two divisions. We are ready for the disrup­tions triggered by the financial crisis,” comments Thomas Holzgreve, who became the new CEO of maxingvest ag in March 2009.

About the maxingvest Group:
The maxingvest Group consists of the maxingvest ag holding company and the opera­tions of its two subgroups Tchibo and Beiersdorf. The holding is family-owned and, as a management holding, concen­trates on the strategic management of the company. maxingvest ag owns 100 percent of shares in Tchibo GmbH and 50.46 percent of shares in Beiersdorf AG.