On the prowl
Holsten-Brauerei AG, Germany’s leading brewing group with a market share of 10%, is keen to bring up its share price which has caused the brewer’s market capitalisation to decline from DM390 million in 1998 to DM374 million (US$173.9 million) at the end of 1999. It is significantly lower than Holsten’s fixed assets valued at DM700 million (US$325.6 million). On a turnover of DM1.9 billion (1998: 1.58 billion) Holsten achieved a net profit of 17.75 million (up DM2.3 million) and a net profit margin of 0.93% last year.
Although Holsten has aggressively been pursuing an expansion strategy, recently taking over a majority stake in the König-Brauerei, Duisburg, one of Germany’s top ten brewers, Holsten could itself become the target of a take-over bid..
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