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Name des Emittenten: BBAG Oesterreichische Brau-
Beteiligungs-AG
Pressemitteilung, Linz, 10.11.2000
BBAG Nine-month 2000 press conference
Vienna, November 10, 2000
January – September 2000:
BBAG’s results, relative to same period in 1999
Volume: +6.1 percent, Sales: +8.2 percent
Operating income (EBIT): +14.9 percent
Pretax income (EBT): +12.5 percent
BBAG posted satisfactory results. Volume in the beer and non-
alcoholic beverage businesses grew, as did real estate
revenues. Total volume rose by 6.1 percent and sales jumped
8.2 percent to Euro 708.6 million.
Operating income (EBIT) was up nearly 15 percent to Euro 63.1
million, investments fell by 2.9 percent and the group had
6.6 percent fewer employees.
Beer business: Volume and sales growth
Beer volume 1/1 -9/30 2000: 8.012m hl, percent change: +4.6
percent, Beer sales 1/1 – 9/30 2000: Euro 600.389m,
percent change: +7.2 percent
The Central European beer markets are growing steadily.
BBAG’s beer volume was up 4.6 percent and sales rose by 7.2
percent.
Austria: Targeted measures to build on strong market position
The Austrian market remains flat. The trend toward canned
beer, however, is continuing apace. In the first nine months,
this segment saw its share of the overall market increase
from 14.3 percent to 15.9 percent.
In addition to a beer tax increase from Euro 17.4 to
Euro 25.0 per thousand hectoliters and poor summer weather,
BBAG must contend with new entrants in the canned beer
segment who are competing aggressively on price. BBAG’s beer
volume fell by 3.3 percent.
Hungary: Further sales growth and securing of market position
In a Hungarian beer market marked by anemic growth, BBAG’s
beer volume increased by 8 percent while sales rose by 14.8
percent. BBAG’s successful positioning in the restaurants and
bars segment contributed further market share gains.
Romania: Market position expanded
The third-quarter restructuring of the sales organization
enabled BBAG to more than offset a first-half decline, with
nine-month beer volume increasing by 2.5 percent relative to
the same period in 1999.
Poland: dynamic volume growth
Poland ranks as one of Europe’s most attractive beer markets.
At the beginning of the year, BBAG acquired the Van Pur
brewery and, later in the first quarter, launched the group’s
international Kaiser brand.
In April, BBAG took a 24 percent stake in the Kujawiak
brewery in Bydgoszcz. This brewery is not yet included in the
consolidated results.
The Van Pur brewery’s nine-month volume totaled 454,000
hectoliters.
Czech Republic: Sales improvement
In the hotly contested Czech market, BBAG has focused on
building up its market leadership in the southern Moravia
region. Beer volume fell by 9.4 percent because of
discontinued brands but sales nevertheless rose by 2.5
percent thanks to price increases.
Non-alcoholic beverage business: Volume and sales growth
Volume 1/1 – 9/30 2000: 1.685m hl, percent change: +13.7
percent, Sales 1/1 – 9/30 2000: Euro 98.648m
percent change: +23.7 percent
BBAG’s international Pago brand is marketed in 10 European
countries. Its overall volume rose by 19.7 percent, with
increases of 50.8 percent in France, 34.9 percent in Italy
and more than 18.7 percent in Spain.
The mineral water segment also recorded sales and volume
growth of 8.6 percent and 11.8 percent, respectively. Our
Gasteiner brand boosted volume by 19.3 percent and added
market share.
Real estate and Other: Revenue growth
Sales 1/1 – 9/30 2000: Euro 11.410m, percent change: +0.7
percent
The real estate business comprises BBAG’s non-operating
property holdings, while Other includes corporate
administration, finance and other operating activities.
The real estate business continues to renovate and market
former production facilities according to plan. The program
to develop our historic industrial site in Vienna-Liesing is
on schedule, as is an apartment and garage project in Graz’s
Muenzgrabenstraße.
A new refurbishment plan for our former Graz-Steinfeld
industrial site calls for a multiuse facility as a business
park with a campus atmosphere.
Preparations are under way for the development of a lot in
Graz-Puntigam that will be the site of a new IKEA furniture
store.
The disposal of the Lembacher Restaurationsbetriebe GmbH
caused revenues of BBAG’s Other Businesses to decline.
The real estate business’ operating income remained
approximately constant relative to the first nine months of
1999.
Future success: Market share gains and rising earnings
In the fourth quarter of this year, BBAG will continue to
pursue its objective of becoming the leading Central European
brewery group and European fruit juice provider. BBAG’s goal
is to seek market leadership while maintaining profitability.
We plan to pursue our growth track in all three business
areas: increase market share in the beer business;
concentrate on fruit juice and mineral water segments in the
non-alcoholic beverage business; increase revenues and asset
appreciation in the real estate business.
We expect the acquisition of the Romanian breweries from
Brewing Holding Limited (BHL-Group) will be completed in this
year. Last year, the BHL-Group posted an operating margin of
approximately 17 percent on an IAS basis. The group expects
to record a slightly higher margin this year, which will be
one of the highest margins among international beer group
companies and significantly higher than BBAG’s earnings
figures to date. Further gains are expected in the years
ahead. The breweries are then expected to join BBAG’s
consolidated group for 2001.
In Poland, BBAG is preparing to acquire the Krolewskie
brewery in Warsaw.
Developing e-commerce applications is another area receiving
special attention in the coming months. These applications
are being developed in cooperation with BBAG’s beverage
partners.
Under IAS accounting, writebacks from reserves contributed
significantly last year to a strong year-end result. And
given the likelihood of increased interest expenses in the
fourth quarter, our current estimates show BBAG’s income from
ordinary operations down slighltly relative to the same
period in 1999. EBIT should be in any case higher than last
year.
BHL Gruppe liegt ueber derzeitigem Ertragsniveau des BBAG Konzerns
BHL-Absatz in Thl: 1998 IST 1.700, 1999 IST 1.990, 2000 1.HJ
1.140, 2000LE 2.360
BHL-Umsatz in USD 000s: 1998 IST 68.600, 1999 IST 68.300,
2000 1.HJ 37.800, 2000 LE 74.400
EBITDA in USD 000s: 1998 IST 20.500, 1999 IST 19.200, 2000
1.HJ 9.600, 2000 LE 18.900
EBITDA Margin in Prozent BHL: 1998 IST 36,7, 1999 IST 34,5,
2000 1.HJ 31,3, 2000 LE 31,1, Durchschnitt in Prozent 33,4,
EBITDA Margin in Prozent BBAG 20,7
February 1, 2000, For further information:
Next BBAG Press Conference 1st February 2001
Public and Investor Relations: Tel: ++43/ 732/ 69 51/ 2567
Fax: ++43/ 732/ 69 51/ 2568, E-mail: office@bbag.com
Homepage: www.bbag.com
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