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European rating agency. Objective, transparent, independent.

Karlsberg Brauerei GmbH

Rating History

Rating Watch Outlook Decision Date Action Validity Date Maximum Validity
BB- Watch NEW 08.05.2020 11.05.2020 30.04.2021
BB- Outlook POS 27.09.2019 01.10.2019 30.04.2021
BB- Outlook STA 13.12.2018 18.12.2018 30.04.2021
BB- Outlook STA 18.10.2017 23.10.2017 30.04.2021
BB 06.04.2016 11.04.2016 30.04.2021
BB 29.06.2015 01.07.2015 28.06.2016
BB 01.07.2014 01.07.2014 30.06.2015
BB 05.07.2013 05.07.2013 04.07.2014
BB- 20.07.2012 20.07.2012 19.07.2013
BB- 12.08.2011 12.08.2011 11.08.2012

News

  • 11.05.2020
    Creditreform Rating has assigned the SME Issuer Rating of Karlsberg Brauerei GmbH (BB-), which is part of the Karlsberg Group, the addition Watch NEW (Watch negative) as part of its monitoring during the year. The outlook no longer applies. The main reason for this are the social and macroeconomic distortions resulting from the COVID-19 pandemic, which are having a considerable impact on the business activities of Karlsberg Brauerei GmbH in the current fiscal year. Due to the closing of restaurant and hotel businesses and the cancellation of trade fairs and major events (a total of approx. 15%-20% of turnover in 2019), a significant decline in sales volumes and turnover is expected, which will have a considerable negative impact on the profitability and key financial figures of Karlsberg Brauerei in the current fiscal year. To secure short-term liquidity, we expect additional debt to be taken on. Even though the extent of the impact cannot be fully assessed at the moment, we currently consider the risk of a significant economic downturn in the industry, which will have a negative impact on the rating object, to be elevated.
  • 01.10.2019
    Creditreform Rating confirmed the SME Issuer Rating of Karlsberg Brauerei GmbH, part of the Karlsberg Group, with BB-. The outlook is positive. The rating assessment is primarily based on the positive business development in the past financial year and the resulting improvement in key financial figures compared to the previous year. In addition to an unusually long summer, the successful implementation of KB's earnings-oriented realignment led to an optimization of the product portfolio, processes and cost efficiency and thus to an improvement in earning capacity and profitability. This created a solid and stable basis for meeting the market-related challenges and generating sustainable positive business development in the future, which is why we set the outlook to positive. The improved but still relatively weak balance-sheet creditworthiness of the Karlsberg Group has a dampening effect on the rating.
  • 18.12.2018
    Creditreform Rating confirmed the SME Issuer Rating of Karlsberg Brauerei GmbH, which is part of the Karlsberg Group, at BB-. The outlook remains stable. The rating assessment is primarily based on the lower than expected business performance of Karlsberg Brauerei GmbH in 2017, which led to a deterioration of key financial figures. The earnings-oriented streamlining of the product portfolio in 2017 and the cost-cutting measures implemented, have contributed to a positive earnings trend in the current financial year. As a result, we confirmed the rating at the previous year´s level. For future financial years, we expect sales at a constant level with a significant increase in earnings.
  • 23.10.2017
    Creditreform Rating has downgraded the corporate rating of Karlsberg Brauerei GmbH, which belongs to the Karlsberg group, to BB-. The outlook is stable. In addition to the comparatively weak fundamental situation, the reduced forecast of Karlsberg Brauerei GmbH in 2017 has contributed to the downgrade of the rating as well. The Karlsberg Brauerei GmbH is undergoing a transformation process, where the weak trade mark business will be distinctly reduced.
  • 11.04.2016
    Creditreform Rating has confirmed the corporate rating of Karlsberg Brauerei GmbH, part of the Karlsberg group, at BB. With this rating, structural reorganizations have been taken into account which justify a positive outlook despite the current moderate operative development. The challenging market conditions and the comparatively weak key indicators of the Karlsberg group as well as the high pension obligations still have a limiting effect on the rating assessment.