Business Year 2025

• €4.3 billion in revenue in financial year 2025
• Adjusted revenue growth of 3 percent
• Continued high level of investment

<Bielefeld, 16 April 2025> In financial year 2025, the food companies of Dr. Oetker (including Conditorei Coppenrath & Wiese) generated total revenues of €4.3 billion. Adjusted for currency effects, revenues increased by 3 percent. Investments amounted to €174 million.

In 2025, the global economy was confronted with increasing uncertainties, closely linked to geopolitical developments and a rapidly changing international trade policy environment. In particular, the highly unpredictable tariff policy of the United States led to noticeable distortions in global markets. A key factor was the uncertainty surrounding when and to what extent new tariffs on certain goods might be introduced. In addition, the ongoing conflict in Ukraine and tensions in the Middle East continued to weigh on economic development during the reporting year.

Despite these challenging economic conditions, Dr. Oetker achieved a stable result in 2025. This was driven in particular by a growth and efficiency program launched in previous years, which was consistently continued and successfully concluded. In addition, a further strategic program was initiated during the reporting year to identify and unlock medium- to long-term growth potential in the global environment.

“Against the backdrop of the geopolitical situation and the resulting volatility in markets, we succeeded in achieving a stable result. This was made possible by clear priorities, targeted innovations and the outstanding commitment of our employees worldwide. In a demanding environment, they made a decisive contribution to safeguarding our competitiveness and staying the course,” commented Carl Oetker, Chairman of the International Executive Board of Dr. Oetker, on the annual results.

Revenue Development

Operating on all continents, the companies of Dr. Oetker generated revenues of €4.3 billion in 2025, corresponding to adjusted growth of 3 percent compared to the previous year. More than 65 percent of Dr. Oetker’s total revenue was generated outside Germany.

Regional Performance

During the reporting year, pronounced currency effects weighed on overall performance, particularly in Eastern Europe and the Americas, driven by the depreciation of the Turkish lira, the Canadian dollar and the Mexican peso. In Germany, Dr. Oetker generated revenue at prior-year levels in a challenging market environment. Western Europe recorded slight growth following an already strong prior year, driven primarily by the pizza category, while Eastern Europe achieved strong growth, supported by developments in Turkey and Poland. In the Americas, weaker currencies and a challenging environment in the baking decorations business had a negative impact; tariffs, subdued consumer demand and delisting also weighed on performance. After a record year, Canada remained below the prior-year level in a declining pizza market. Mexico and Brazil delivered strong organic growth, which was also dampened by currency effects. Overall, the Americas region achieved stable organic revenues. The 3A region (Africa, Asia, Australia) recorded slight revenue increases in euros, which were likewise partially affected by negative currency effects.

Innovations

In the pizza segment, the company set a particular highlight with the La Mia Familia range in Germany, the Netherlands and Spain. Launched in March 2025, the innovation consists of 19 filled, pre-portioned pizza bites in the variants Four Cheese and Tomato & Paprika. The bites can be easily pulled apart and are ideal as a side dish for salads and soups or for social occasions such as barbecues, movie nights or game evenings. In May 2026, the range will be expanded to include a garlic variant and rolled out to additional countries. In addition, Dr. Oetker celebrated the 40th anniversary of Pizza Ristorante in 2025, one of the best-known brands in the frozen pizza segment.

Dr. Oetker also provided new impulses in the dessert segment. With the Feelgood Mug Pudding, the company introduced reduced-sugar enjoyment in the flavors chocolate, vanilla-flavored and semolina in 2025. With High Protein Shakes, the company expanded its successful high-protein range in Germany to include a ready-to-drink format in chocolate and vanilla flavors. The light and creamy texture, high protein content, low fat content and the absence of added sugar (contains naturally occurring sugars) appeal in particular to nutrition-conscious consumers. The 330-ml bottle is resealable and ideal for on-the-go consumption. In September 2025, the first line extension followed with the Cookie flavor.

In the cakes and baking segment, Dr. Oetker addressed the ongoing international air fryer trend in 2025. With Airfryer Baking Powder, launched in May 2025, the company introduced the first baking powder specifically developed for preparation in an air fryer. The special recipe ensures that doughs rise optimally in the air fryer and produce light, fluffy baked goods often with shorter baking times than in a conventional oven. Since July 2025, the range has been complemented by an Airfryer Quarkbällchen baking mix, which enables quick and easy preparation of the popular sweet pastry with only a few additional ingredients. Another innovation will follow in May 2026 with Airfryer Churro Bites, bringing the classic fairground treat into the home in a contemporary preparation format.

Conditorei Coppenrath & Wiese

Conditorei Coppenrath & Wiese recorded a slight increase in revenue in 2025. This was mainly attributable to the successful frozen rolls business and the reinstatement of listings with a key retail partner that had been reduced in the previous year. While the branded and private-label business in Germany achieved significant revenue growth, the export business was impacted by U.S. tariff policy and overall consumer restraint.

Investments

In 2025, the Food Division invested €174 million. This high level of investment strengthens the foundations for future growth, advances sustainability projects in line with the company-wide Sustainability Charter, and promotes the digitalization of core processes. At Dr. Oetker, a significant share of the investments was allocated to the expansion of international pizza capacities. Conditorei Coppenrath & Wiese invested, among other things, in sustainable energy solutions as well as in the modernization and automation of its production facilities.

Employees

The number of employees in the Food Division, stated in full-time equivalents, increased slightly year-on-year to 16,784 (previous year: 16,599).

In Germany, 7,275 employees were employed, while 9,509 employees worked at international locations.

Outlook

Geopolitical uncertainties are expected to continue to affect the global economy in 2026. Against this backdrop, the economic environment will remain challenging, with an increased focus across the company on the stability and resilience of supply chains. Nevertheless, Dr. Oetker and Coppenrath & Wiese are planning investments at a high level in 2026, particularly to support the future-oriented areas of innovation, sustainability and digitalization.

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