maxingvest ag

Press Releases

Hamburg, 24 Aug 2021

Group companies differently affected by pandemic


The maxingvest Group generated revenues of €10,158 million in the 2020 financial year, down 4% organically on the previous year (€10,771 million).

EBIT declined by 17% to € 949 million in the reporting year (previous year € 1,137 million). The Group thus achieved an EBIT return on sales of 9.3% in the year of the pandemic 2020 (previous year: 10.6%).
The COVID 19 pandemic affected the performance of the maxingvest Group companies to varying degrees.

Tchibo grows despite long lockdowns

The strengths of the multi-channel distribution system of Tchibo were borne out during the pandemic. Despite the prolonged closure of all of its approx. 900 European branches and the heavy impact on the Out-of-Home coffee business due to people working from home and catering lockdowns, revenue grew organically by 1% to € 3,133 million (previous year € 3,118 million).

The drivers of this development were the strong business with coffee in supermarket retail and the good development of the consumer goods business, which achieved significant growth again after some weaker years. The realignment of the past few years is having an effect here. Besides the strong business in supermarkets, the growth in Non Food came especially from the Tchibo online shop. Its revenue grew at a double-digit rate.

EBIT reached € 90 million in the year of the pandemic (previous year € 134 million). The EBIT return on sales was 2.9 % (previous year 4.3 %).
The positive revenue development of entire business of Tchibo continued in the first half of the 2021 financial year.

Beiersdorf harder hit by pandemic

Beiersdorf achieved sales of €7,025 million in 2020, an organic decline of 6% (previous year: €7,653 million). EBIT excluding special effects came to €906 million (previous year: €1,095 million). The EBIT return on sales with-out special effects was 12.9 % (previous year 14.3 %).




Tchibo expects a growing consumer goods business and stable development in the coffee segment. Revenues will grow slightly. EBIT is expected to remain stable at the previous year’s level.


Beiersdorf expects the Group to achieve revenue growth in the higher single-digit range. The operating EBIT return on sales is expected to be at the previous year’s level.




Press enquiries:
Arnd Liedtke
Director Corporate Communications
maxingvest ag
Alter Wandrahm 17/18, 20457 Hamburg
Phone: +49 40 63 87- 21 24, Fax: +49 40 63 87- 25 30,

About maxingvest:
The maxingvest Group consists of the holding company maxingvest ag and the two operating companies Tchibo and Beiersdorf. The holding company is family-owned and, as a management holding company, focuses on strategic corporate management. Maxingvest ag owns 100% of shares in Tchibo GmbH and controls more than 50% of the voting rights in Beiersdorf AG.

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