Biesterfeld Group reports successful 2020 financial year despite COVID-19 crisis
Hamburg, Germany – The Biesterfeld Group continued its successful track record of business development in 2020, despite the COVID-19 pandemic. The family-owned company based in Hamburg saw a decline in sales, but it still generated total revenues in the amount of €1.03 billion. Thanks to its effective cost management system, the distributor achieved an operating result of €42.8 million, which surpassed targets.
With this development, Biesterfeld exceeded earnings forecasts and reinforced its position as a market leader in selected segments of the international chemicals and plastics market. All four operating business divisions made a positive contribution to this result. The group again succeeded in expanding its market shares and adding new partners and products to its portfolio to enable ongoing strategic developments over the long term. This long term development is based on the technically sophisticated solutions that Biesterfeld has to offer, as well as on expanding the relevant product and service portfolio, and on long-standing and trusting partnerships with customers and suppliers.
“2020 was a challenging year for everyone. But thanks to our 900 employees around the world, we managed to master it beautifully. Everyone actively adapted to the situation with utmost flexibility and they gave their best to Biesterfeld, as well as to our customers and suppliers,” said Thomas Arnold, CEO of Biesterfeld AG. “To show our thanks to everyone, in May we paid out a COVID-19 bonus to all Biesterfeld employees around the world.”
The first quarter of 2021 was also successful for all four operating business divisions of the Biesterfeld Group. The general high demand for raw materials and materials on a global level and the shortage of resources in a number of markets, such as in the plastic and rubber sectors, were the main factors contributing to the revenue and earnings. Despite the continuing COVID-19 pandemic, as well as geopolitical and industry-specific challenges, Biesterfeld is optimistic that it will achieve the positive business development planned for 2021.