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  • Full-year sales come in flat, up 0.3% to US$11bn
  • Volumes from 12 months of 2017 down 2.3%
  • Fourth-quarter sales climb 2.4% to $2.58bn
  • Quarterly volumes dip 1.1%

Molson Coors Full-Year 2017 - results data

Molson Coors has ended the first full year of its outright ownership of MillerCoors in the US with a steady top-line performance in 2017.

Molson Coors has increased its cost savings target

Molson Coors has increased its cost savings target

Sales in the 12 months of last year inched up by 0.3% on the year prior on a constant currency basis, the North American brewer said earlier today. A healthier final quarter, when sales were up by almost 2.5%, pulled things back for Molson Coors, which saw its sales dip by just over 1% for the nine months to the end of September.

CEO Mark Hunter credited the full-year performance with "demonstrating balance and progress against both our bottom-line and top-line goals".

"For the full-year 2017 versus pro forma 2016 results," Hunter said, "we over-delivered on costs savings and free cash flow and optimised commercial spending, delivering strong net income growth, underlying EBITDA margin expansion of 77 basis points, and underlying EBITDA growth of 3.7%."

The brewer's net profits for 2017 came in at $1.41bn, a near-30% slide on the year prior.

Looking forward, the brewer said it is targeting cost savings of around $210m in 2018, updating its forecast for 2017-to-2019 cost savings to $600m. The increased target is due to Molson Coors exceeding its original estimate for last year by around $80, with savings totalling $255m.

To read Molson Coors' official results statement, click here.

What's coming up in beer in 2018? - Click here for just-drinks' predictions for the year ahead


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