Red Bull increased dividend to 1.5 billion euros

Red Bull increased dividend to 1.5 billion euros

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Image: (APA/HERBERT P. OCCERET)

This is shown by the group annual report for 2022 published on Wednesday. Half of it goes to the Red Bull heir Mark Mateschitz. Profit stagnated at 1.7 billion euros, while expenses for sales promotion measures rose by almost a quarter to 2.3 billion euros. Red Bull sold around 11.5 billion cans.

Higher costs for sponsorship but also for sales promotion and advertising contributed to profit stagnating at 1.7 billion euros, although net sales increased by 24 percent to 9.7 billion euros, the annual report published on Wednesday shows. In total, almost 2.3 billion euros went into marketing, advertising, sponsorship and sales promotion (plus 23 percent). It is the first annual report since the death of company founder Dietrich Mateschitz almost a year ago.

Sales in the USA increased from 3.6 to 4.3 billion euros compared to the previous year. In Europe, Red Bull had sales of 3.5 billion euros, after 2.8 billion euros in the previous year.

Mateschitz’s son Mark inherited the 49 percent stake in the company, which is headquartered in Fuschl am See near Salzburg, making him the richest millennial in Europe with an estimated fortune of $15.7 billion (15 billion euros), according to the Bloomberg agency.

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