SPAIN: Grupo Mahou-San Miguel sees FY profits, sales drop

By James Wilmore | 10 July 2013

FY operating profits fall 7.5% to EUR175m
Sales drop 1.9% to EUR1.17bn
Exports account for 11% of total volumes
Invested EUR72m in 2012 - including EUR26m on boosting production facilities

Grupo Mahou-San Miguel has reported a drop in full-year profits and sales in 2012, pointing to falling consumption levels in Spain and rising raw material costs.

Operating profits for the 12-month period fell by 7.5% to EUR175m (US$224.7m), the Madrid-headquartered brewer said yesterday (9 July). Sales in the year were down 1.9% to EUR1.17bn.

International sales accounted for 11% of the company's volumes, it said.

The private group, which produced 12.3m hectolitres of beer last year, flagged that it invested EUR72m in 2012, despite the economic difficulties in its domestic market of Spain. Around EUR26m of this was spent on upgrading its production facilities.

The brewer took on 74 new employees in 2012, bringing its total workforce to around 2,530, it said.

Mahou-San Miguel last year appointed the former CEO of Russian Standard International to head up its newly-created international business unit. It also started importing its Mahou beer to India.

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Beer in Spain

Beer in Spain industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2007-11, and forecast to 2016). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market. Essential resource for top-line data and analysis covering the Spain beer market. Includes market size and segmentation data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information.

Sectors: Beer & cider, Company results