Schörghuber Corporate Group records dramatic rise in sales and profit in 2021 financial year

Munich, September 5, 8, 2022. The Schörghuber Corporate Group (SUG) ended the 2021 financial year with a significant increase in sales and improvement on the result. Disregarding the Paulaner Brewery Group because it is carried at equity, the sales increased from 553.6 million EUR in the previous year to 607.5 million EUR. The Group’s earnings before interest and taxes (EBIT) increased disproportionately from the 2020 figure of 9.2 million EUR to 279.4 million EUR in the past financial year. Largely due to the write-up on its real estate assets, the Group’s equity increased by 8.7 percent to 2,154.7 million EUR (previous year: 1,982.9 million EUR) and the balance sheet total rose by 9.0 percent to 4,604.3 million EUR (previous year: 4,224.0 million EUR).

With a balance sheet 1,005.1 million EUR (previous year: 1,002.3 million EUR) and equity of 289.0 million EUR (previous year: 297.6 million EUR), the Paulaner Brewery Group’s sales increased to 669.4 million EUR (previous year: 621.6 million EUR) and its operating result rose to 29.9 million EUR (previous year: 16.7 million EUR). The consolidated results amounted to 16.0 million EUR (previous year: 3.3 million EUR). From the share of earnings attributable to shareholders in the parent company amounting to 13.3 million EUR (previous year: 1.0 million EUR), 9.3 million EUR were attributed to SUG owing to the fact that the holding is carried at equity (previous year: 0.7 million EUR).

“We’re proud that the measures we implemented at the very start of the pandemic have had an impact despite the fact that market conditions have continued to be incredibly challenging. We’re now in a strong position to respond to the market and keep on growing,” says Nico Nusmeier, Chairman of the Executive Board. Co-CEO Florian Schörghuber adds: “Our diversified structure held up by the four pillars – Construction & Real Estate, Beverages, Hotel and Seafood – has proven to be resilient in these turbulent times. With the new, focused holding structure we’re working on at the moment, we’ll be able to respond with even more speed and flexibility in future to the requirements brought about by market conditions that are changing at an accelerating pace.”

The Construction & Real Estate business sector enjoyed an especially successful financial year once again, with all the relevant key performance indicators above budget. Sales increased by 23.0 million EUR during the reporting period, amounting to 352.8 million EUR (previous year: 329.7 million EUR), while the EBIT jumped up to 323.7 million EUR (previous year: 88.0 million EUR).

The Paulaner Brewery Group managed to grow, going against the grain of the overall market trend. Despite the ongoing restrictions brought about by the Covid-19 pandemic, which were felt most strongly in hospitality and events, beer sales increased by 4.1 percent to 5.9 million hectoliters (previous year: 5.7 million hectoliters).

There were encouraging signs of recovery within the Hotel business sector. Although Arabella Hospitality’s German hotels continued to be strongly affected by the pandemic in particular, sales grew by 53.6 percent compared to the previous year, taking them to 107.7 million EUR (previous year: 70.1 million EUR).

Finally, positive news comes from the Group’s Seafood business sector The operating result generated by Productos del Mar Ventisqueros, the sector’s operative business, increased from -6.0 million EUR in the previous year to 7.2 million EUR during the reporting period. This was partially owed to the palpable recovery of sales prices for Atlantic (salar) and Pacific (coho) salmon, which partially offset the negative effects of the reduced sales caused by an algal bloom.


Bayerische Hausbau: Ongoing high investments in investment property and development projects

Bayerische Hausbau GmbH & Co. KG is the holding company for the Construction & Real Estate business sector. With activities in the Real Estate and Development business areas, it is one of Germany’s largest integrated real estate companies. The real estate portfolio worth 3.5 billion EUR is mainly concentrated in Munich and generates a stable cash flow from the rental income. The Development business area offers a wide range of services, including property acquisition, the obtaining of planning permission, project planning, the realization of housing developments, commercial property and multi-functional community centers in Munich and Hamburg.

In the 2021 financial year, Bayerische Hausbau invested 41.0 million EUR (previous year: 77.0 million EUR) in its portfolio, mainly in Kardinal-Faulhaber-Strasse 1, where the 5-star ultra-luxury hotel Rosewood Munich will be opened in 2023, the premium office property PRANNER in Welfengarten near Nockherberg and the renovation work on Schwanthalerstrasse 111a–115. It also spent 40.6 million EUR (previous year: 18.0 million EUR) on maintenance work for its portfolio.

As part of its project on the former premises of the Paulaner Brewery on the Nockherberg in Munich’s Au district, Bayerische Hausbau is developing a neighborhood with around 1,500 apartments to house around 3,500 residents. All the outstanding work on the three subprojects – Am Alten Eiswerk, Welfengarten and Nockherberg – is set to be finished by 2023. 110 residential units (previous year: 102 residential units) with a volume of 137.7 million EUR (previous year: 115.5 million EUR) were registered in the reporting year.

The development of diverse residential quarters in Munich and Hamburg is also part of the company’s growth strategy, with further steady progress having been made with obtaining planning permission over the past year. The Munich developments are an area on Freisinger Landstrasse in Schwabing-Freimann (12 hectares), a joint venture development at Lerchenauer Feld (23 hectares), the fifth construction phase in the Messestadt (24 hectares) and a large area on Dreilingsweg (14 hectares), which is being developed in close partnership with the Munich municipal authorities as the landowner. These four plots are set to ease the continued pressure on the housing market by offering a total of around 5,800 attractive homes.

Alongside the development projects in Munich, the company is working on the future Paloma District with a total floor space of 27,800 m² in Hamburg’s trendy St. Pauli neighborhood and the new work campus FLOW in the city’s Alsterdorf district, which will be home to modern new workspaces across around 23,600 m². One of the two new builds will become the new EMEA region headquarters of Sysmex Corporation, a global manufacturer of innovative analysis devices and provider of lab diagnostics services.

Backed by big ambitions and major investments, Bayerische Hausbau is strengthening more than just the sustainability of its real estate portfolio and development projects. Investments in the digitalization of its products and processes hit 1.8 million EUR in 2021 compared to 1.2 million EUR in the previous year, representing a record-breaking increase of 50 percent.


Paulaner Brewery Group: Boosted beer sales with consolidation of leading position in exports 

Paulaner Brauerei Gruppe GmbH & Co. KGaA is the market leader in the beer market in its core regions of Bavaria and Baden-Württemberg. The company, which is managed in a joint venture with Heineken International B.V. (30 percent), acts as the parent company for the Beverages division, which is carried at equity owing to the joint control. It holds a one hundred percent share in Fürstlich Fürstenbergische Brauerei GmbH & Co. KG, Privatbrauerei Hoepfner GmbH and Privat-Brauerei Schmucker GmbH as well as a 63.8 percent share in the listed company Kulmbacher Brauerei AG.

Despite the ongoing negative impact of the Covid-19 pandemic, the Paulaner Brewery Group saw its sales volume (including alcohol-free beverages and merchandise) increase to 8.372 million hectoliters (previous year: 7.885 million hectoliters) and its beer sales rise to 5.887 million hectoliters (previous year: 5.676 million hectoliters) in the year under review. This was mainly due to the strong recovery of the export markets. Although export turnover only increased by 4.0 percent on the whole in Germany, the Paulaner Brewery Group saw an increase of 18.6 percent up to 1.3 million hectoliters (previous year: 1.1 million hectoliters).

Alongside the core Paulaner brand, with its high export share, as well as Mönchshof (1.241 million hectoliters; previous year: 1.174 million hectoliters) and Hacker-Pschorr (471,000 hectoliters; previous year: 447,000 hectoliters), the lager brand Chiemseer continued to grow particularly nicely. With sales up by 23.3 percent, the specialty beverage brewed in Rosenheim recorded an increase from 225,000 hectoliters in the previous year to 278,000 hectoliters during the period under review. Thanks to the major success of its lagers under the Auerbräu, Chiemseer, Fürstenberg, Hacker-Pschorr, Mönchshof and Paulaner brands, the Group boosted its sales by 32.5 percent and seriously strengthened its market position in Germany to take the number two spot.

Alcohol-free beverages also experienced positive growth, up 20.6 percent to 1.6 million hectoliters (previous year: 1.3 million hectoliters). The biggest driver of growth in this segment was the trendy Paulaner Spezi, with the sales up by 35.7 percent.


Arabella Hospitality: Marked recovery and positive impact of strict cost management

Arabella Hospitality SE is the holding company for the Hotel division. In the reporting year, it operated 16 hotels in Germany, Switzerland and Mallorca. Six of the hotels in Germany are owned by Bayerische Hausbau, while Arabella Hospitality owns the three in Mallorca. Management agreements with Marriott International, Inc. are in place for 14 of the hotels. They are operated under the well-known brands St. Regis, The Luxury Collection, Westin, Sheraton, Four Points by Sheraton, Aloft and Autograph Collection. Arabella Golf and – as of January 1, 2021 – two Arabella Hotels in the Bavarian Oberland have been added to the portfolio.

Despite the ongoing serious impact of the Covid-19 pandemic, Arabella Hospitality managed to limit its losses in the past financial year to -40.9 million EUR (previous year: -87.1 million EUR). This was in part thanks to continued strict cost management and an increase in sales from 70.1 million EUR in the previous year to 107.7 million EUR. The recovery was limited due to an ongoing lack of business trip activity, which has had the biggest impact on hotels in city center locations in Munich, Hanover and Stuttgart.

The pandemic didn’t stop Arabella Hospitality investing with the aim of steadily raising the profile of its brand and individual hotels. The Neue Schloss Privat Hotel Zurich is an excellent example of this long-term strategy. The boutique hotel on Lake Zurich underwent a major refurbishment during the year under review. Its official reopening as the first Autograph Collection hotel in the Arabella Hospitality portfolio was a huge success.

The hotels in Mallorca performed exceptionally too, with a 50.3 percent rise in occupancy rates effectively pushing them back up to their pre-pandemic level. Their average daily rate also jumped up by 67.3 percent compared to the previous year. Arabella Hoteles e Inversiones de España also recorded positive results while in the process of making sustainable changes to its business. It now uses renewable energy sources to cover all its power needs and managed to reduce the total CO² emissions of its three hotels from its 2019 figure of 4.4 metric tons to 0.8 metric tons last year.


Ventisqueros: Successful turnaround while ongoing significant investments are made in future volume growth

Productos del Mar Ventisqueros S.A. runs the operations of the Seafood division. The company is responsible for the production, processing and distribution of Atlantic (salar) and Pacific (coho) salmon. It supplies customers in many countries including the USA, Russia, China, Japan and Brazil.

Even before the end of the Covid-19 pandemic, the salmon producer managed to turn the business around. Following an EBIT of -6.0 million EUR in 2020, the result in the reporting year was 7.2 million EUR. This positive result was achieved through an efficient reorganization and was helped by the increase in market prices for both salar and coho salmon by more than a dollar per kilogram.

At the same time, the harvest was considerably diminished: In the spring of 2021, the salmon farming company at Comau Fjord was hit by an algal bloom that reduced the volume of salmon to just 35,582 tons from 44,913 in the previous year.

Nevertheless, the company has laid the foundation for continued ambitious volume growth by investing 25.3 million US dollars in the current year. Ventisqueros is supervising that the expansion of its production capacity complies with strict ESG criteria. The plan includes cutting down on greenhouse gas emissions, reducing waste and achieving full ASC certification for all products.


Outlook: New Group structure and targeted reinforcement of business sectors with strategic investments 

The Schörghuber Corporate Group is currently in the process of rolling out a new, decentralized structure, with the aim of giving the business sectors more freedom to make decisions and take action in future. This will involve the services currently provided by the holding company and dedicated service companies – finance, IT, HR and tax – being taken care of directly by the operating companies. Going forward, the holding company will act as the strategic umbrella, but the business sectors underneath it will have more responsibility to allow them to adapt to the relevant market conditions and dynamics.

The company is also planning to up venture capital investments in business areas that complement the ones already being covered by SUG. Through its family office, the Schörghuber family has already started investing in innovative, fast-growing start-ups in sectors in which SUG is active or in complementary business areas.


Schörghuber Corporate Group



Group balance sheet total

4,604.3 million EUR

4,224.0 million EUR

Construction & Real Estate

4,060.3 million EUR

3,721.7 million EUR


   616.2 million EUR

   638.2 million EUR


   374.1 million USD

   278.1 million USD

Group sales

   607.5 million EUR

   553.6 million EUR

Construction & Real Estate

   352.8 million EUR

   329.7 million EUR


   107.7 million EUR

     70.1 million EUR


   155.1 million EUR

   165.5 million EUR

Other companies/consolidation

      -8.1 million EUR

       4.5 million EUR

Group EBIT

   279.4 million EUR

       9.2 million EUR

Construction & Real Estate

   323.7 million EUR

     88.0 million EUR

Paulaner Brewery Group (at equity)

       9.3 million EUR

       0.7 million EUR


    -40.9 million EUR

    -78.0 million EUR


       7.2 million EUR

      -6.0 million EUR

Other companies/consolidation

    -19.9 million EUR

       8.7 million EUR

Group result

   174.7 million EUR

    -34.0 million EUR

Construction & Real Estate

   243.6 million EUR

      49.3 million EUR

Paulaner Brewery Group (at equity)

       9.3 million EUR

        0.7 million EUR


    -52.7 million EUR

     -87.1 million EUR


       2.9 million EUR

       -5.5 million EUR

Other companies/consolidation

    -28.4 million EUR

        8.7 million EUR

Group equity ratio

              46.8 percent

              46.9 percent

Construction & Real Estate

               51.5 percent

               51.3 percent


               24.2 percent

               23.3 percent


               51.9 percent

               68.6 percent

Group number of employees (HGB)



Construction & Real Estate










Paulaner Brewery Group        



Balance sheet total

1,005.1 million EUR

1,002.3 million EUR


   669.4 million EUR

   621.6 million EUR


      29.9 million EUR

     16.7 million EUR


      16.0 million EUR

       3.3 million EUR

Equity ratio

               28.8 percent

               29.7 percent

Number of employees (as per German

Commercial Code)



Total sales

         8.372 million hl

         7.885 million hl

Total beer sales

         5.887 million hl

         5.676 million hl


         2.200 million hl

         2.075 million hl


         1.241 million hl

         1.174 million hl


         0.471 million hl

         0.447 million hl


         0.316 million hl

         0.321 million hl


         0.278 million hl

         0.225 million hl

Alcohol-free beverages

         1.600 million hl

         1.329 million hl


* According to IFRS 11, the Paulaner Brewery Group is consolidated at equity with a share of 70 percent. The figure shown here is a pro-forma statement of its sales revenues and the associated intercompany eliminations. 


About the Schörghuber Corporate Group

Founded in 1954 and headquartered in Munich, the family-run Schörghuber Corporate Group is a successful national and international player in the Construction & Real Estate, Beverages, Hotel and Seafood business sectors. The Group’s real estate and property development activities are consolidated in Bayerische Hausbau, one of the largest real estate companies in Germany. The Paulaner Brewery Group, a joint venture with Heineken, owns brands such as Paulaner, Hacker-Pschorr, Mönchshof and Fürstenberg and is one of Germany’s largest brewery groups. The Hotel business sector is managed by the holding company Arabella Hospitality and operates 15 properties in Germany, Switzerland and Mallorca. The hotels are managed by Marriott International. Salmon breeding and processing, which is consolidated in Productos del Mar Ventisqueros in Chile, constitutes the fourth business sector of the Schörghuber Corporate Group – Seafood. All of the sectors are united by the common values of diversity, quality and growth. Thanks to the work of the Group’s approximately 5,200 employees, customers and partners can experience these values in action every day.



Schörghuber Corporate Group

Bernhard Taubenberger, Director Communication & Marketing

Denninger Strasse 165, 81925 Munich, Germany, Phone +49 89 9238-258, Fax +49 89 9238-114258,