Plzeňský Prazdoj Announces Economic Results For Past Financial Year
22 May 2009
Plzeň, 22 May - Plzeňský Prazdroj announces economic results for the financial year ending on 31 March 2009.
- Core business revenues increased by 1 % to 15.8 billion Kč
- Pre-tax profit increased by 0.3 % compared to previous financial year and reached 4.6 billion Kč
In the financial year ending on 31 March 2009, Plzeňský Prazdroj, a.s. confirmed its position as the leading Czech beer producer and exporter. Income for sales of goods, own products and services increased by 1 % to 15.8 billion Kč and pre-tax profit reached 4.6 billion Kč and surpassed the previous financial year despite difficult economic conditions. After-tax profit decreased slightly in the year-to-year comparison due to one-time tax adjustments from the previous year. Because of exceptional tax items, the tax is incomparable with previous year's. Plzeňský Prazdroj is one of the most significant taxpayers in the Czech Republic, having paid 4.4 billion crowns in taxes during the past financial year.
Mike Short, Chairman of the Board of Directors and Managing Director of Plzeňský Prazdroj, a.s., stressed the ongoing focus on beer market value increase and on export. "Sales volume of the Czech beer market decreased slightly last year, and Prazdroj's sales were no exception. Even at these unstable times of crisis we managed well and we kept our focus on premium and more expensive brands that should help increase the value of the entire Czech beer market."
The economic situation worsened during the second half of the fiscal year, and demand decreased in most segments of the beer market. Plzeňský Prazdroj announced a sales decrease of 3 % in volume for 2008 in line with the market trend. The decrease was further augmented by lower sales in the first three months of 2009. Towards the end of the financial year, the sales started to increase mainly due to good weather.
In 2008, Plzeňský Prazdroj recorded its highest export volume in its entire 166 year history. Foreign sales increased by 1 % over previous year, the export increased by 4 % and license production remained at previous year's level.
These results are the outcome of investments focused on production capacity increase and export expansion. During the last twelve months, Prazdroj invested 1.7 billion Kč into development of its breweries. Since 2000, SABMiller has invested 16 billion Kč into the development of Plzeňský Prazdroj and its brands.
Accounting period ending on 31 March 2009 (bn Kč)
Accounting period ending on 31 March 2008 (bn Kč)
Income for sales of goods, own products and services 15.840 15.680
Pre-tax profit for the accounting period 4.610 4.590
Notes for editors:
- Plzeňský Prazdroj is the leading beer producer in the region and the largest exporter of Czech beer.
- Plzeňský Prazdroj, a. s., is a member of SABMiller plc global group. Pilsner Urquell is the international flagship of the portfolio of SABMiller brands.
- SABMiller plc is one of the largest brewing companies worldwide with brewing interests or distribution agreements in over 60 countries across six continents. The group's brands include major international brands such as Miller Genuine Draft, Peroni Nastro Azzurro and Pilsner Urquell, and almost 200 successful regional and national brands.
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