The Haniel Group benefited from the upturn in economy in the first half of 2011, which however weakened significantly in the following months. Development in the divisions was not uniform: CWS-boco, ELG and TAKKT generated revenue increases, while Celesio posted a slight decline. Overall, the Haniel Group held revenue almost stable at EUR 27.3 billion. Profit before taxes declined from EUR 620 million to EUR 390 million due to a sharp decline in profits at Celesio. This was caused by impairments of goodwill and other intangible assets, further public-sector savings measures in the healthcare sector – which could not be fully compensated – and one-off expenses for the strategic realignment. By contrast, income from the sale of real estate of Metro’s founding shareholders had a positive impact on profits at the Haniel Group.
