Plzeňský Prazdroj announces its financial results (Translation)
8 June 2011
Plzeň, June 7, 2011 - In the fiscal year ending March 31, 2011, Plzeňský Prazdroj reports income for sales of goods, the company's own products and services amounting CZK 14.559 billion and profit before tax CZK 4.180 bn*. The company's financial performance has been influenced by the increase of the excise on beer in January 2010 and continuous adverse economic conditions. Despite of that Plzeňský Prazdroj remains a significant contributor to the Czech economy, paying CZK 4.7 bn in taxes and investing CZK 53.8 million into the communities.
- Revenues from main activities decreased by 5.5% to CZK 14.559 billion
- Profit before tax decreased by 10.8% to CZK 4.180 billion*
- Plzeňský Prazdroj remains a significant contributor to the Czech economy
- CZK 4.7 bn paid in taxes is among 11 top corporate tax payers**
- CZK 53.8 million investing into community development in last 12 months***
- CZK 5.9 billion of value generated for suppliers, of which 87% are sourced from the Czech Republic***
Doug Brodman, Managing Director of Plzeňský Prazdroj, comments on the results:
"Brewing industry plays a significant role in the Czech culture and the economy. Over the last 2 years, challenging market conditions have significantly influenced the whole Czech beer market. One of the key adverse influences was the beer excise tax increase during the difficult economic conditions. This measure did not meet government expectations at all and adversely impacted the brewing industry's ability to develop and invest.
These market conditions have reflected in our results for the year, however, we have continued to invest not only into our breweries and brands but also to the development of communities where we operate. We will continue to retain our focus on further development of our brands, our people's capability and delivering the best beer experience to our consumers."
*This result does not include any one-off, extraordinary accounting entries.
**The total tax paid includes corporate income tax, VAT, excise tax, real estate tax and road tax.
***Source: Measurement of NGO Business for Society, Standard Responsible Company.
NOTE: The financial highlights included in this report are not audited due to the spin-off of the European Imports business unit, which was effective as of April 1, 2010.
Notes for editors:
- With total sales of over 9.9 million hectolitres in the calendar year 2010 (including licensed production abroad) and exports to more than 50 countries around the world, Plzeňský Prazdroj is a major beer producer in the region and the largest exporter of Czech beer.
- Plzeňský Prazdroj employs 2,300 people in the breweries in Plzeň, Nošovice, Velké Popovice and 13 sales and distribution centers.
- Plzeňský Prazdroj, a.s. is a member of the SABMiller plc. Pilsner Urquell is the international flagship of the SABMiller brand portfolio.
- SABMiller plc. is one of the world's largest brewers, with brewing interests or distribution agreements in over 60 countries across six continents.
Ph. no.: 724 617 219
This SABMiller subsidiary news release has been translated from its local market language to English language for publication on www.sabmiller.com. We have attempted to provide an accurate translation of the original material but due to the difficulties of translation slight differences may exist.
Note, the news release was first published in its local market on [07/06/2011].