The spirit increased in sales worldwide by 20 percent in the past financial year.
(Photo: Funke Photo Services)
Rheinberg Two years ago, the Underberg family brought Michael Soehlke onto the board in order to stabilize the ailing spirits manufacturer again. The 44-year-old wants to develop younger target groups and uses unconventional means, as he explains in an interview with the Handelsblatt.
The new course is paying off: while the German market for herbal bitters and spirits is struggling, Underberg is gaining market share. The brand increased sales worldwide by 20 percent, as did the Asbach Uralt brandy.
This is shown by figures for the 2021/22 financial year, which Soehlke announced for the first time. Overall, the Underberg Group, which owns more than 60 brands, increased its sales by 17.5 percent to 141 million euros.
For many years, however, high debts have weighed on the family company from Rheinberg. The corporate bonds expire in 2024 and 2025, and a total of 85 million euros are due. “Our goal is to get out of the high debts,” emphasizes financial expert Soehlke.
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