GERMANY: Warsteiner sees figures dip in 2004
Warsteiner Brauerei Haus Cramer has posted a slight drop in annual revenue. The German family-owned brewery said on Saturday (19 March) that sales revenue in 2004 fell by around 5% compared to 2003, reaching €470m (US$623m).
Warsteiner's group CEO, Gustavo Moeller-Hergt, said that sales for Warsteiner dropped by 6.6% year-on-year to 5.6m hectolitres. Although the group did post a positive result in EBITDA terms, Moeller-Hergt did not elaborate.
Sales of the company's core brand Warsteiner suffered their third successive year in decline, dropping to 3.8M hectolitres in 2004 from 4.2m hectolitres a year earlier.
Warsteiner intends to increase investments to around €50m this year, from €40m in 2004.
Moeller-Hergt said that annual sales were expected to fall over the next two years, with 2007 providing the earliest stop to the downward trend.
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