BBAG Österreichische Brau-Beteiligungs AG
BBAG Österr. Brau-Bet. AG english
BBAG: Record operating result 2002
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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BBAG: Record operating result 2002
For the second year in a row, BBAG could finalize the business year 2002 with a
record result: The EBIT was EUR 79.5m, up by 16.2%. Total sales of EUR 1,100.4m
remained on last year’s level (-0.4%), whereas adjusted for currency effects the
increase was 2.1%. Besides of the operating earnings growth, a decline of the
corporate tax led to the significant increase of the earnings per share by 54.2%
to EUR 3.27. The average number of employees fell by 10% to 7,666. Investments
totalled EUR 114.9m, a decline of 10.5%. Figures for 2002 include the first-time
consolidated results from the newly acquired Hostan brewery and the 33% stake
in the Schladming brewery. The management board suggests a dividend increase by
10%, which would mean EUR 1.54 for each BBAG share and EUR 1.87 per Brau Union
share.
Divisional results (in EUR millions)
Beer Non-alcoholic beverages Real estate
Total sales 969.8 (+0.3%) 116.8 (-6.9%) 13.7 (10.6%)
EBIT 60.3 (+33.3%) 1.1 (-88.9%) 17.1 (37.8%)
Investments 82.9 (-14.4%) 4.8 (-41.9%) 6.5 (37.3%)
Employees 7.089 (-10.5%) 495 (-5.7%) 9 (0.0%)
In the beer division, BBAG continued to develop its strategic sales platform. It
comprises 3 elements: cost efficiency, dense distribution networks as well as
strong investment brands. The Gösser brand posted strong gains of 5.8% due to
the introduction into the Romanian market as well as a doubling of its sales
volume in Russia under the licensed brewing agreement. Zipfer’s Austrian sales
volume and higher exports to Italy led to a 1.9% increase. The speciality brand
Edelweiss recorded the strongest growth with 9.6%.The non-alcoholic beverages
division was characterized by the unfavourable economic situation in the main
market for Pago fruit juice, namely Italy. BBAG reacted with a comprehensive
restructuring program, which will lead to cost savings of approximately 8% of
Pago’s sales. The direct cost savings will be reinvested in additional marketing
initiatives and used to enhance earnings sustainable, repectively.
The real estate division continued with the strategy to develop unused land. In
autumn, a residential construction project in the city of Graz/Austria was
opened. The capital gains on disposals totalled EUR 7.9m, EUR 4.3m more than
last year.
end of ad-hoc-announcement (c)DGAP 02.05.2003
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WKN: 091099; ISIN: AT0000910997; Index:
Listed: Amtlicher Handel in Wien
020730 Mai 03
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