Plzeňský Prazdroj announces its financial results (Translation)
11 June 2010
Plzeň, June 9 - In the fiscal year ending March 31, 2010, Plzeňský Prazdroj, the leading Czech producer and exporter of beer, recorded income for sales of goods, the company's own products and services amounting CZK 15.411bn. Profit before taxes was CZK 4.686bn*.
- Revenues from main activities decreased by 2.5% to CZK 15.411billion
- Operating earnings were level with prior year.
- Profit before tax decreased by 1 % to CZK 4.686billion*
This result does not include any one-off, extraordinary accounting entries.
"Plzeňský Prazdroj achieved these results in the face of adverse economic conditions. The market was impacted by a significant increase in VAT and excise tax in January and by growing unemployment. This resulted in the second consecutive year of declining consumption in the total malt beverage market after several years of growth. Our financial results reflect our focus on portfolio development, particularly in the premium segment led by continued share growth of Pilsner Urquell. We managed to capitalize on the early launch of Gambrinus Excellent in the growing 11-degree beer segment. Our premium brands portfolio was further strengthened by the re-launch of Birell, extension of the Frisco brand family, and more recently by the introduction of our specialty beer Master in bottles," says Doug Brodman, Managing Director of Plzeňský Prazdroj.
The financial results of the fiscal year reflect our continued investment in the development of Czech heritage brands and breweries totalling CZK 1.2bn. The largest capital project was the final stage of the installation of fermentation tanks at the Velké Popovice brewery. Since the year 2000, Plzensky Prazdroj has reinvested CZK 17 billion.
Notes for editors:
- With total sales of over 10.5 million hectolitres in the calendar year 2009 (including licensed production abroad), and exports to more than 50 countries around the world, Plzensky Prazdroj, a. s., is a major beer producer in the region and the largest exporter of Czech beer.
- SABMiller plc is one of the world's largest brewers, with brewing interests or distribution agreements in over 60 countries across six continents. The SABMiller brand portfolio consists of international brands such as Miller Genuine Draft, Peroni Nastro Azzurro and Pilsner Urquell, as well as almost 200 other successful regional and national brands.
- Plzensky Prazdroj, a. s. is a member of the global group SABMiller plc. Pilsner Urquell is the international flagship of the SABMiller brand portfolio.
Tel.: 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 [09/06/2010].