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