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SABMiller plc Annual Report 2007

Our performance

One of the world’s largest brewers, SABMiller has brewing interests and distribution agreements across six continents. Our wide portfolio of brands includes premium international beers such as Pilsner Urquell, Peroni Nastro Azzurro, Miller Genuine Draft and Grolsch along with market-leading local brands such as Aguila, Castle, Miller Lite, Snow and Tyskie. Six of our brands are among the top 50 in the world. We are also one of the world’s largest bottlers of Coca-Cola products.

  • Group lager volumes up 11% to 239 million hectolitres (hl), organic growth of 7%
  • EBITA up 15%, and 9% on an organic constant currency basis despite rising input costs
  • Mix benefits and strong pricing improve Miller EBITA in the USA
  • Volume, price and productivity gains drive excellent earnings growth in Europe – EBITA up 30%
  • Latin America lager volume growth of 5% despite exceptional prior year – EBITA up 17%
  • Africa lager volumes up 6% organically – substantial investment programme to capture growth opportunities
  • CR Snow volume growth continues ahead of the China market – Snow brand up 63%
  • South Africa lager volumes level – a satisfactory result given loss of a premium brand


Revenue1 up 15%

US $21,410m

EBITA2 up 15%

US $4,141m

Profit before tax up 16%

US $3,264m

Adjusted earnings3 per share up 19%

US cents 143.1

Dividends per share up 16%

US cents 58.04

Net cash from operations up 6%

US $4,276m

  1. Revenue excludes the attributable share of associates’ revenue of US$2,418 million (2007: US$2,025 million).
  2. Note 2 provides a reconciliation of operating profit to EBITA which is defined as operating profit before exceptional items and amortisation of intangible assets (excluding software) but includes the group’s share of associates’ operating profit, on a similar basis. As described in the Chief Financial Officer’s review, EBITA is used throughout this report.
  3. Reconciliation of adjusted earnings to the statutory measure of profit attributable to equity shareholders is provided in note 8.
  4. Subject to shareholder approval of final dividend at AGM.

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Bar graph showing revenue in US$m for 2004-2008Bar graph showing EBITA in US$m for 2004-2008Dividends per share in US cents for 2004-2008