News
Preliminary Results 2005 - Outstanding Volume and Earnings Growth
19 May 2005
Ref: 11/2005
London and Johannesburg, 19 May 2005. SABMiller plc today announces its preliminary (unaudited) results for the year to 31 March 2005.
Highlights are:
| 2005 US$m | 2004 US$m | % change | |
|---|---|---|---|
| Turnover | 14,543 | 12,645 | 15 |
| EBITA* | 2,409 | 1,893 | 27 |
| Profit before tax | 2,194 | 1,391 | 58 |
| Adjusted profit before tax* | 2,242 | 1,705 | 31 |
| Adjusted earnings | 1,251 | 925 | 35 |
| Adjusted earnings per share* | |||
| - US cents | 103.2 | 77.6 | 33 |
| - UK pence (up 22%) | 55.9 | 45.8 | |
| - SA cents (up 17%) | 641.8 | 547.6 | |
| Adjusted diluted earnings per share* (US cents) | 99.8 | 75.2 | 33 |
| Basic earnings per share (US cents) | 94.1 | 54.1 | 74 |
| Dividends per share (US cents) | 38.0 | 30.0 | 27 |
| Net cash inflow from operating activities | 2,792 | 2,292 | 22 |
* EBITA and adjusted profit before tax comprise profit before interest and tax (US$2,361 million) and profit before tax (US$2,194 million) respectively before goodwill amortisation (US$366 million), and before exceptional items (net credit US$318 million – see note 4). The calculation of adjusted earnings is given in note 6. All references to EBITA refer to pre-exceptional EBITA.
- Total lager volumes increase 8% to 148 million hls, organic growth of 4%
- Miller domestic volume returns to growth – turnaround on track
- Excellent volume and EBITA performance in South Africa
- Continued strong performances from both Europe and Africa & Asia
- Group EBITA margin 16.6%, up from 15.0%
- Strong cash flows reduce gearing to 26.4%
Statement from Meyer Kahn, Chairman
“This has been the third successive year of remarkable volume, margin and earnings growth from SABMiller and confirms our superior long-term growth profile.
Our South African operations were particularly strong, benefiting from robust economic conditions, further improvements in operating performance and a firm local currency. Miller has shown domestic volume growth for the first time in six years and the businesses in Europe and Africa & Asia continued their excellent momentum.
Following the improvement in adjusted diluted earnings per share, the board has recommended an increase in the final dividend, giving a total of 38.0 US cents for the year, an increase of 27% over the prior year.”
View the Preliminary Announcement news release PDF 2.23Mb
Enquiries
| SABMiller plc | Tel: +44 20 7659 0100 | ||
| Sue Clark | Director of Corporate Affairs | Mob: +44 7850 285471 | |
| Gary Leibowitz | Vice President, Investor Relations | Mob: +44 7717 428540 | |
| Nigel Fairbrass | Head of Media Relations | Mob: +44 7799 894265 | |
| Philip Gawith | The Maitland Consultancy Ltd | Tel: +44 20 7379 5151 | |
A live webcast of the management presentation to analysts will begin at 9.30am (BST) on 19 May 2005.
This announcement, a copy of the slide presentation and video interviews with management are available on the SABMiller plc website at http://www.sabmiller.com/. Video interviews with management can also be found at http://www.cantos.com/.
High resolution images are available for the media to view and download free of charge from www.vismedia.co.uk.
Copies of the press release and the detailed Preliminary Announcement are available from the Company Secretary at the Registered Office, or from 2 Jan Smuts Avenue , Johannesburg , South Africa.
Registered office: Dukes Court, Duke Street, Woking, Surrey, GU21 5BH
Telephone: +44 1483 264000
Telefax: +44 1483 264103
Incorporated in England and Wales (Registration Number 3528416)