Posted on 20 April 2012.
Global brewer SABMiller has reported a 1% organic decline in full year lager volumes in Europe as beer market growth continued to be subdued and competitors aggressively promoted economy brands and packs. Fourth quarter volumes were down 2%. The completion of planned de-stocking in the second half of the year affected Poland and Romania, which together with the effects of continuing competitor price reductions and promotional activity, resulted in volume declines of 4% and 8% respectively for the year.
In the Czech Republic, domestic volumes were in line with the prior year supported by good performance of brand and pack innovations and despite continuing weakness in the on-premise channel. In Russia, volumes were up 2%, ahead of beer market performance, and strong growth continued in Ukraine. Both Russia and Ukraine reflect 11 months of trading prior to the conclusion of the transaction with Anadolu Efes. The United Kingdom achieved volume growth of 8% for the full year, led by the expansion of Peroni Nastro Azzurro in the on-premise channel.
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Posted on 20 April 2011.
Global brewer SABMiller has reported that its lager volume in Europe declined by 3% in the 12 months to March 31st 2010, reflecting a particularly challenging first half impacted by generally weak economic conditions. Fourth quarter volumes were up 2% benefiting from a weak comparative period due to prior year excise increases in Russia and the Czech Republic.
Poland’s volumes were down 4% for the year with the market impacted by widespread flooding and alcohol sales restrictions during a nine day national mourning period in the first half, as well as significant competitor discounting in the economy segment. In the Czech Republic SABMiller’s volumes were down 6% due to continued weakness in the on-premise channel, further downtrading into lower value segments and increased competitor discounting.
Russia’s full year volumes were 1% ahead of the prior year as a result of a stronger second half supported by a gradual economic recovery, and despite competitor price reductions in the local premium segment. In the fourth quarter Russia’s volumes grew by 17% reflecting lower volumes in the fourth quarter of the previous year following significant buy-in ahead of the January 2010 excise increase.
Volumes in Romania were down 8% as the market remained in recession and continued to be impacted by government austerity measures.
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Posted on 22 November 2010.
SABMiller, one of the world’s leading brewers with operations and distribution across six continents, has increased reported EBITA by 13% to $2.47b for the six months to September 30th 2010. The growth was 10% on an organic, constant currency basis, as key operating currencies strengthened against the US dollar compared to the equivalent period in the prior year. Profit before tax advanced 13% to $1.69b, including exceptional charges of $285m.
Reported group revenue increased by 7% (4% on an organic, constant currency basis) to $14.24b, benefiting from higher sales volumes and price increases mainly taken in the second half of the prior year. Lager volumes increased 1% on an organic basis with growth in Asia, Africa and South Africa
Graham Mackay, chief executive of SABMiller.
However, in Europe EBITA fell by 4% on an organic, constant currency basis due to volume decline and down-trading. North America EBITA grew 27% as firm pricing and synergies more than offset volume declines.
“In trading conditions which remained mixed across our markets, the group benefited from its global spread of businesses, delivering a strong financial performance. The strength of our brands, which supported price increases taken largely in the prior year, contributed to good revenue growth,” explains Graham Mackay, chief executive of SABMiller. “Cost reductions, driven by lower raw material input costs and further fixed cost efficiencies, helped to finance increased investment behind our brand portfolios and assisted margin enhancement.”
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