Spirits: Henkell Freixenet benefits from increased demand

The Sektkellerei Henkell Freixenet is expecting a good year-end, mainly thanks to a significant increase in demand for spirits.

Spirits: Henkell Freixenet benefits from increased demand

The Sektkellerei Henkell Freixenet is expecting a good year-end, mainly thanks to a significant increase in demand for spirits. "I think we will get out better in 2022 than in 2021," said Andreas Brokemper, CEO of the German Press Agency in Wiesbaden. Brands such as Wodka Gorbatschow and Kuemmerling also belong to Henkell Freixenet.

The important year-end business, which accounts for around 25 to 30 percent of the group's sales, is still to come. However, despite the burden on consumers from high inflation and increased energy costs, there are no signs of a slowdown in business around the Christmas holidays and New Year's Eve, explained Brokemper. "Consumers are currently not skimping on enjoyment."

Young adults like spirits

The growth driver in recent months was not the sparkling wine market, but primarily the increased demand for spirits, the chairman reported. With the abolition of the strict Corona rules, there was a great need to catch up to meet friends and celebrate. This also explains the increased demand for spirits, as these are particularly popular with younger adults as mixed and party drinks.

There was significant growth in the markets in Germany and Poland, with Vodka Gorbatschow, Kuemmerling and Batida de Côco selling very well. According to the manager, the share of the liquor store in the group is just over ten percent. "2020 was the year of wine. 2021 was the year of sparkling wine and 2022 was more the year of spirits."

The sales figures for Prosecco, Cava and Crémant have also developed positively in the current year. Rosé products and alcohol-free sparkling wine also enjoyed increasing popularity. The development of champagne, on the other hand, is no longer as dynamic as in the previous year, said Brokemper. Sales of sparkling wine are stable.

Inflation and energy costs an issue for 2023

When looking ahead to the next year, the CEO was cautious: "2023 will not be an easy year." The central question for Henkell Freixenet's business development will be how inflation and energy costs will continue to develop, whether the war in Ukraine will continue and how wages and salaries will develop internationally. "Markets react when consumers have to live with losses in real income."

Henkell Freixenet achieved sales of around 1.3 billion euros in 2021. Without sparkling wine tax, the group's revenues amounted to almost 1.1 billion euros. The company traditionally does not provide detailed information on the amount of profit. After the takeover of the Spanish supplier Freixenet, the sparkling wine producer is considered the global market leader for sparkling wine in terms of sales and turnover. In Germany, the sparkling wine producer Rotkummel-Mumm, based in Freyburg in Saxony-Anhalt, is number one.

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