MEXICO: Grupo Modelo FY profits edge up

By | 12 February 2013

  • FY net profits up by 4.4% to MXN 12.3bn (US$964.8m)
  • Net sales in 2012 rise by 9.1% to MXN 99.3bn
  • Operating profits increase by 14% to MXN 25.1bn
  • FY domestic volumes flat, exports up 4.7%
Modelo saw a rise in FY profits and sales

Modelo saw a rise in FY profits and sales

Grupo Modelo has reported a slight rise in full-year profits as its export business outperformed domestic operations.

Net profits in the 12 months to the end of December rose by 4.4% to MXN12.3bn (US$964.8m), the Corona brewer announced yesterday (11 February). Sales in the period increased by 9.1% to MXN99.3bn.

Operating profits in the year saw a 14% jump to MXN25.1bn.

Total volumes in the full-year were flat at 39m hectolitres, but exports rose by 4.7% to 17.7m hectolitres. Volumes in Latin America and Asia saw double-digit growth, with Chile, China and Japan the strongest performers, the company said.

In value terms, exports grew 12% to MXN39.7m, while domestic sales were up by 6.5% to MXN51.6m.

In Q4, the Mexican group, which is in the process of being acquired by Anheuser-Busch InBev pending a lawsuit by the US Department of Justice, net profits fell by 1.8% to MXN3.47bn. Net sales in three month period rose by 4.1% to MXN24.17bn.

Crown Imports, Modelo's JV with Constellation Brands, registered an operating profit of US$443m, from sales of $2.6bn.  

The company said: "In the US, the total Crown Imports portfolio outperformed both the industry and the imported beer category, in comparison to the prior year. Grupo Modelo’s total sales for a portfolio that includes seven brands, registered once again a record volume in that country." 

Constellation last week requested a role in the legal case over A-B InBev's acquisition of Modelo, as it seeks to take full control of Crown Imports. 

For Grupo Modelo's full company statement, click here 

Expert analysis

Beer - North America (NAFTA) Industry Guide

Beer - North America (NAFTA) Industry Guide is an essential resource for top-level data and analysis covering the Beer industry in each of the North American Free Trade Agreement (United States, Canada, and Mexico) countries. The report includes easily comparable data on market value, volume, segmentation and market share, plus full five year market forecasts. It examines future problems, innovations and potential growth areas within the market.

Sectors: Beer & cider, Company results

Companies: Modelo, InBev, Constellation

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MEXICO: Grupo Modelo FY profits edge up

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