BBAG Österreichische Brau-Beteiligungs AG
BBAG Österr. Brau-Bet. AG english
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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EBIT reaches previous years level, significant earnings growth 2001 expected
First-half 2001 EBIT rebounded after a sluggish first quarter. Beer and non-
alcoholic beverage sales volume rose by 18.6% to 7.3 million hectoliters. Sales
revenues increased by 17.2% to reach Euro 536.4 million. First-half EBIT was up
a scant 0.7% to Euro 31 million, but in the second quarter it was up by 16.5%
compared with the second quarter of 2000. EBITDA grew by 10.3% to Euro 87.3
million, and investments were up 7.8% to Euro 67.7 million. The number of
employees rose by 27.9% to 8,431. In order to reduce current liabilities, BBAG
plans to issue a EURO-bond in the coming weeks.
BBAG has made progress on integrating its new breweries. All new acquisitions
have been first-time consolidated in 2001. In the first quarter of this year,
integration-related costs negatively affected earnings, but by the end of the
first half, the situation was much improved. The earnings driver is on track
for 2001. Based on our experience in recent years and on the early results from
the second half of this year, we expect significant earnings growth relative to
2000.
end of ad-hoc-announcement (c)DGAP 30.08.2001
Issuer’s information/explanatory remarks concerning this ad-hoc-announcement:
BBAG has three core business areas. In the beer business, our goal is to become
Central Europes leading brewery group. In non-alcoholic beverages, we aim to be
Europes leading supplier of premium fruit juice through our Pago brand. In real
estate, we intend to be among the top five investors in Austria.
Beer: volume up 24.4% to 6.3m hl; revenues grew by 21.1% to Euro 464.3m.
In the first half, BBAG had to contend with several market-related challenges
along with the brewery integration efforts in Poland and Romania. Whereas the
months of May and June 2000 were marked by strong performances, this year they
were marred by ongoing inclement weather in Central Europe. This summer, on the
other hand, has seen growth relative to 2000. Beer tax increases in several
home markets (Austria, Romania, Poland) have also negatively affected results.
Non-Austrian sales currently account for 62.4% of the total.
Non-alcoholic beverages: volume down 7.8% to 1.0m hl; revenues fell by 2.3% to
Euro 65.6m.
Our Pago fruit juice brands growth is marked by two contrasting trends. We are
continuing to develop the brand internationally, but stepped-up price
competition is crimping growth in Pagos traditional Austrian and Italian
markets. This trend is also evident in Austrias mineral water market. Our
Gasteiner brand is recording favorable growth. We are nevertheless continuing
to implement our premium strategy for the whole non-alcoholic beverages
division.
Real estate business: Revenues up 9.8% to Euro 6.9m; Investments up 25.5% to
Euro 2.5m
Several real estate projects are also currently on track. BBAG focuses on
Austrian metropolitan areas. Earnings were up significantly over the previous
year, with EBIT rising by 32.2% to Euro 4.5 m.
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WKN: 091099; Index:
Listed: Amtlicher Handel in Wien
300751 Aug 01
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