US: MillerCoors reports "solid" FY as profits leap

By | 14 February 2013

  • FY net profits jump by 18.6% to US$1.19bn
  • Net sales in 2012 rise by 2.8% to $7.76bn
  • Operating profits also climb, by 18.7% to $1.21bn
  • "Positive pricing, favourable sales mix" credited for driving profits
MillerCoors posted healthy profits for 2012 earlier today

MillerCoors posted healthy profits for 2012 earlier today

MillerCoors has seen out its full year with healthy profits on the back of a slight lift in sales.

The US JV between SABMiller and Molson Coors said earlier today (14 February) that its net profits in 2012 came in 18.6% up on 2011, hitting US$1.19bn. Net sales in the 12 months to the end of December were up by 2.8% to $7.76bn.

Operating profits also delivered strong growth, rising by 18.7% to $1.21bn.

In Q4, however, net profits fell by 12.2% year-on-year to $170.4m, while sales were flat, rising by 1.7% to $1.78bn. Operating profits in the last quarter fell back by 9.6% to $177.2m.

In November, the group reported a 26% jump in nine-month net profits to US$1.02bn

“Our portfolio transformation strategy is delivering solid results," said MillerCoors' CEO Tom Long today. 

Coors Light, he added, "continued to show momentum" and the group "led craft share growth" as its Tenth and Blake division delivered "very strong results" through the brands Blue Moon and Leinenkugel’s.

To read the company's official statement, click here.

Expert analysis

Premium beer in North America – forecasts to 2016

This second report in our series on premium beer concentrates on North America, currently the second largest premium beer market in the world and how this market specifically has faired. It examines how the major players and smaller brewers have reacted to the challenges and changing trends. Highlighted is one of the most exciting and innovative offshoots of the industry since its emergence in the mid- to late-1980s, that of craft brewing.

Sectors: Beer & cider, Company results

Companies: Coors, SABMiller

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