BBAG Österreichische Brau-Beteiligungs AG
BBAG Österr. Brau-Bet. AG english
Successful start into 2002: EBIT increases to nearly EUR 13m
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Successful start into 2002: EBIT increases to nearly EUR 13m
After the comprehensive consolidation activities in 2001, the first quarter of
this year was marked for BBAG by top and bottom line growth. While total sales
volume fell by modest 2% to 3,032 thl, total sales rose by 5.6% to EUR 242.3m.
EBIT jumped by EUR 8m or 160%. The comprehensive integration work for the
breweries in Poland and Romania was successfully accomplished. Those tasks are
soon to be completed.
The increase in operating income filtered down to pre-tax income (EBT), which
grew from EUR 2.0m to EUR 7.4m, or by 270% – despite acquisition-related
increased interest expense of EUR 5.6m (+ 86%), related to the acquisitions. The
investment exceeding amount of the EBITDA rose from EUR 6.2m to EUR 18.5m.
Nevertheless, the beverage business is seasonal. Thus, summer months play a much
more crucial role in determining the success of the full year, as the first
quarter does.
Results, divisional breakdown:
Beer Non-alcoholic beverages Real estate
Consolidated figures 208,744 (+6.5%) 30,192 (-0.6%) 3,401 (+6.3%)
EBIT 5,637 (n.a.) 1,759 (-21.0%) 4,223 (+94.7%)
Investments 20,693 (+3,5%) 997 (-83.3%) 586 (-55.7%)
First quarter beer sales varied according to the respective home markets, but
overall it remained with 2,585 on the same level as last year (2,607 thl). The
results of the newly acquired Hostan brewery in Southern Moravia (Czech
Republic) were first-time consolidated.
In the fruit juice as well as the mineral water business, BBAGs focus is now on
the mono-brands of Pago and Gasteiner. The fruit juice brand DrinkVit was
discontinued, the mineral water plant Güssinger was disposed. In the first
quarter, Gasteiner grew by 22% and Pago by 1,3%. The decrease in earnings is
mainly attributable to increases in various expenses such as higher advertising
expenditures in anticipation of the activities for the upcoming year.
BBAG continued to realize the various development projects in the urban areas of
Vienna and Graz, but recently also a penthouse project in Linz. A rural
property in Wieselburg was sold in order to focus consequently on metropolitan
areas. The first quarter was marked by extensive negotiations with the
appropriate regulatory authorities to pave the way for the continuation of the
respective projects.
end of ad-hoc-announcement (c)DGAP 24.05.2002
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WKN: 091099; ISIN: AT0000910997; Index:
Listed: Amtlicher Handel in Wien
240731 Mai 02
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