Drinks firm Henkell Freixenet closed the 2020 financial year with a decline in sales of 7.4% compared to the previous year, according to reports.
Despite this, the company was able to achieve slight growth of 1.1% in the DACH region, encompassing Germany, Austria and Switzerland, Rundschau reported.
Henkell Freixenet, which is owned by Oetker Group, closed the past year with a turnover of around €1.2 billion, a decrease of 7.4% compared to the previous year.
The performance of the sparkling wine, wine, and spirits division of the Oetker Group was hampered by lockdown measures enforced in response to the COVID-19 pandemic.
In contrast to the overall sales development, sales in the DACH region increased to €304.2 million.
The brands Fürst von Metternich (+18.2%), Wodka Gorbatschow (+5.1%) and Freixenet Mederaño (+23.1%) also posted sales growth.
Dr. Andreas Brokemper, spokesman for the management of Henkell Freixenet, said the group has "consistently continued the focus on global and strong local brands that began in 2018 and made further divestments.
"Nonetheless, the effects of the corona pandemic are clearly evident. During the first wave of the pandemic, from March to June, the consumption of sparkling wine and champagne came to a standstill in many places. After a quick recovery in the summer months, the second wave reached us in the high-consumption Christmas season and on New Year's Eve."