DENMARK: Royal Unibrew sees FY profits rise
- Net profits up by 26% to DKK350.9m (US$62.5m)
- Net sales drop by 9% to DKK3.4bn (up 2% organically)
- Operating profits (EBITDA) dip by 0.1% to DKK600.7m
- Brewer upbeat on market share gains
Royal Unibrew upbeat on market share gains
Royal Unibrew has said that it remains upbeat going into 2012 after a strong rise in profits and market share gains in 2011.
The Denmark-based brewer said today (9 March) that net sales for the 12 months to the end of December fell by 9%, to DKK3.4bn (US$605m). However, excluding sales lost following the disposal of the firm's Polish business, net sales increased by 2% on a organic basis, Royal Unibrew said.
Operating profits for the year were broadly flat, dipping by just 0.1% to DKK600.7m. However, lower finance charges enabled net profits to jump by 26% on 2010, to DKK350.9m. Published records in Royal Unibrew's annual report show that it is the firm's best net profits performance for at least five years.
The group said that it gained market share in several markets during 2011. Its focus for 2012 will be product innovation and cost management, it added. Capital expenditure is set to represent between 4% and 6% of net sales in the year ahead.
At the same time, the group said that it expects Western Europe's beer market to continue to decline in 2012. In its core markets of Denmark and Italy, the decline in beer market volumes is set to be low single-digit and medium single-digit respectively, it added. But, the firm said: "Royal Unibrew’s market shares on branded products are generally expected to be maintained or increased for the key brands in main markets."
For the company announcement, click here.
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