BBAG Österreichische Brau-Beteiligungs AG
Ad hoc-Service: 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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In 2000, BBAG continued along its growth path. Total beverage volume increased
by 7.6% to reach 12.494 million hectoliters. Beer volume was up 6.6% to 10.362
million hectoliters, and non-alcoholic beverage volume rose by 12.4% to reach
2.132 million hectoliters. Revenues from renting and leasing were up 2.4% to
Euro 13.0 million. In the beer business, BBAG now has brewery operations in 5
countries and ranks as Central Europes second-largest brewery group. The PAGO
fruit juice brand is marketed in 10 Southern and Western European countries. Our
third business area, real estate, saw asset and earnings growth thanks to
innovative projects. Total sales grew at a faster pace than volume, rising by
10.8% to reach Euro 937.0 million. Extraordinary expenses in 2000 resulted in a
23.3% decrease in operating income to Euro 50.5 million. Net of these
extraordinary items, operating income was up 16.1%. These items included:
– Write-backs on reserves in 1999 that were not repeated in 2000 (Euro 8.1
million)
– A write-down of assets at our Polish subsidiary (Euro 9.3 million)
– Write-downs in the restaurants and bars segment (Euro 7.2 million)
In 2000, BBAG acquired three breweries in Romania and three in Poland. All the
acquisition-related interest expense, but none of the sales and earnings
contributions from five of the six breweries, was consolidated in 2000 but will
be in 2001. Cash flow from operations remained flat relative to the previous
year at Euro 106.1 million. Investments rose by 5.8% to Euro 139.3 million. The
average number of employees at constant scope fell by 6.7% to 6,451. The ratio
of personnel costs to sales fell by 23.6% to 21.4%. The proposed dividend per
share remains unchanged at Euro 1.40. BBAGs growth was confirmed in the first
quarter: total volume 3.089 thl (+28.5%), total sales Euro 229,5 million
(+21,6%). Operating income decreased by 40,9% to Euro 5 million due to increased
goodwill amortization, measures to integrate and restructure the newly acquired
breweries in Romania and Poland as well as increased marketing expenses.
Despite the decrease in Q1 operating income, significantly improved earnings
over the full year 2001 are expected.
end of ad hoc announcement (c) DGAP 23.05.2001
Issuer’s information/explanatory remarks concerning this ad hoc announcement:
The annual reports 2000 and the letters to shareholders 1/2001 of BBAG and BRAU
UNION AG and our press release are available under www.bbag.com and
www.brauunion.com
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WKN: 091099; Index:
Listed: Amtlicher Handel in Wien
230732 Mai 01
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