German distributor reports jump in earnings / Optimism despite added market uncertainty
Despite stormy times: turnover and profit of the Germany-based distribution company went up strongly (Photo: Biesterfeld)
Material bottlenecks and a sharp rise in raw material prices have given Biesterfeld (Hamburg, Germany; a strong tailwind: the distributor said turnover last year rose 40% to EUR 1.4 bn and EBIT more than doubled to EUR 88 mn. “We’re looking back at an exceptional 2021 financial year, marked by the effects of the pandemic and a very challenging market environment,” CEO Thomas Arnold said.

All business units grew, the company reported. The Biesterfeld Plastic division showed considerable growth, especially in Europe and Southeast Asia. Biesterfeld Performance Rubber recorded large increases, notably with special rubbers and additives. At Biesterfeld Specialty Chemicals, the financial year was characterised by diversification of the product portfolio, and the integration of the Biesterfeld International segment and the Scandinavian Lindberg & Lund Group (see of 19.07.2021).

The positive trend continued in the first quarter of 2022, the company said. In the meantime, the tense geopolitical and global economic situation has significantly increased market uncertainty. Like many other firms, Biesterfeld has suspended its Russian activities until further notice.

The company, which is once again fully family-owned (see of 18.10.2021), anticipates further disruptions in supply chains worldwide, scarce availability and rising costs. Nevertheless, Biesterfeld is optimistic. “We are monitoring the situation very closely and are confident that we will continue on our international growth path in 2022, based on our application competence and consulting expertise as well as the trusting long-term relationships with our suppliers and customers,” the CEO said. “In particular, our acquisition in Southeast Asia is already showing very positive results" (see of 26.10.2021).
11.07.2022 [250705-0]
Published on 11.07.2022
Biesterfeld: Distributeur meldet Umsatz- und GewinnsprungGerman version of this article...

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