Denmark: Royal Unibrew reported a 10% increase in sales for 3Q 2006
Scandinavia’s second largest brewery, Royal Unibrew, reported a Q3 profit before tax of DKK 161.2 million compared to DKK 133.3 million in 2005, which is an increase of 21 per cent. However, the analysts do not expect this will cause any drastic share price rises, Borsen reported November 17.
Royal Unibrew maintains its expectations for a profit for the full year of DKK 320-340 million, the company wrote in its stock exchange announcement.
Profit before tax for the first three quarters of the year amounts to DKK 205.2 compared to DKK 186.2 million in 2005 which was an increase of 11 per cent.
Albani, Ceres and Maribo are three of the Danish main products in the group, which sells its products on 65 markets in among others Scandinavia, the Baltic countries, Northern Germany, Poland, Italy, and Canada.
Sales of Royal Unibrew’s products rose by 10 per cent to 1.8 million hl in the third quarter compared to the same quarter 2005, which the management itself describes as satisfactory as the growth is generally an expression of organic growth.
In the first nine months of the year sales rose 12 per cent to 4.9 million hl which was due to an increase on the Polish market, where Royal Unibrew bought breweries in 2005 as well as growth in the Baltic countries, Scandinavia and Germany.
Operating profit improved to DKK 248.6 million from DKK 199.6 million, and this increase lifts Royal Unibrew’s EBIT margin to 8.6 per cent from 8.2 per cent the previous year.
Royal Unibrew is a listed, international business that produces, distributes, markets and sells beer, malt and soft drinks in 65 markets - primarily in Europe, America and Africa.
It comprise four breweries in Denmark, two in Lithuania, one brewery and one soft drinks business in Latvia as well as two breweries in Poland. In addition, it has sales companies and associates in a number of countries. Royal Unibrew employs a total of some 2,200 people.
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