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Molson Coors will release its Q4 and full-year results tomorrow |
Ahead of the release tomorrow of Molson Coors' results for the fourth quarter and the 12 months of 2016, here's a look at the events that shaped the three months to the end of December for the brewer.
- At the beginning of October, the group finally completed its acquisition of SABMiller's stake in the MillerCoors joint-venture - a deal initially secured in 2015, following Anheuser-Busch InBev's move for SAB. The transaction saw Molson Coors become the third-largest brewer, by value, in the world.
- The next day, Molson Coors handed the Australian distribution for its newly-acquired Miller beer brands to Coca-Cola Amatil. The move formed part of a long-term sales and distribution agreement between CCA and Molson Coors International
- At the beginning of November, CEO Mark Hunter echoed comments made by Anheuser-Busch InBev's CEO, claiming that US beer consumers are striving to make sense of the array of options in the craft beer space
- In mid-November, then-CFO Mauricio Restrepo resigned because of "personal conduct" matters. He was replaced by Tracey Joubert, previously CFO for the company's US unit
- Towards the end of the month, Molson Coors cut six positions from MillerCoors in the wake of the US unit's full acquisition
- At the beginning of December, the brewer appointed Phil Whitehead to the role of MD for UK & Ireland
In the group's most recent set of results:
- Nine-month net profits leapt by 65% to US$537.5m
- Net sales in the nine months to end of September fell by 5% to $2.59bn
- Operating profits in year-to-date jumped 79% to $800.3m
- Third-quarter net profits totalled $202.5m versus $16.6m in Q3 2015
- Net sales in three months to end of September were down 7% to $947.6m
- Quarterly operating profits came in at $289.2m, compared to $8.1m
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