The EBIT result was marginally ahead of analysts’ forecasts. A Reuters poll of Austrian analysts had predicted EBIT of €39.7m. Earnings before interest, tax, depreciation and amortisation increased by 14.8% to €100.2m. Sales volumes in the first six months stood at 7.3m hls, with beer sales up by 1.1% at 6.3m hls and soft drinks volumes rising by 7.2% to 960,000 hls.
AUSTRIA: EBIT leaps 31% at BBAG
Oesterreicheische Brau Beteiligungs AG (BBAG), the holding company for Austrian beer and drinks group, Brau Union AG, reported a 31.4% rise in earnings before interest and tax (EBIT) to €40.7m for the six months to the end of June. Pre-tax earnings rose by 31.9% to €31.4m on sales 4.6% higher at €561.3m. The company attributed the improvement to reduced spending on the integration of its operations outside Austria which now extend to Hungary, Poland, Romania and the Czech Republic.