“Come with us to the Underberg” – this old advertising song is probably buzzing around in many people’s heads when they hear the name of the spirits manufacturer. How is the family business from North Rhine-Westphalia doing?
Despite higher prices, the herbal schnapps manufacturer Underberg has received less money in its coffers. In the 2023/24 financial year, which ended at the end of March, sales amounted to 142 million euros, 3 million less than in the previous year, announced Semper idem Underberg AG in Rheinberg (North Rhine-Westphalia). Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose from 11.6 to 12.8 million euros, partly due to cost reductions. The company did not publish any other business figures.
A look at the Federal Gazette shows that the company was already profitable with similar sales: In the 2021/22 financial year, according to the Federal Gazette, the company made a net profit of 4.4 million euros on sales of 141 million euros – almost the same as in the previous financial year.
“Customers in Germany and other markets are still quite cautious,” said CEO Michael Söhlke. Combined with necessary price increases, this has slowed sales. The manager is optimistic about the future, saying that the company is on track for the fiscal year that began in April.
The company, which is owned by the founding family, produces not only the herbal bitters Underberg, which are produced in Rheinberg, but also the brandy Asbach Uralt, which is produced in Rüdesheim, Hesse. Around half of the 240 employees work at each of the locations. Competitors include the herbal liqueur company Mast-Jägermeister from Wolfenbüttel, Lower Saxony.
Source: Stern
