BBAG Österreichische Brau-Beteiligungs AG
BBAG Österr. Brau-Bet. AG english
Consistent implementation of strategy: earnings increase more than 30%
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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The figures of the first six months of 2002 confirm the sustainable growth of
the BBAG group. The overall turnover of BBAG increased by 4.6% in the first six
months of 2002 to reach 561.3 million Euros. Increases have been posted even
more on the result level: operating income EUR 40,7m (+31.4%), pre-tax income
EUR 31,4m (+31.9%), net income EUR11,3m (+34.4%). Compared to last year, BBAG
incurred less integration expenditure – a cost reduction that has a positive
effect on the current result. Over the last few months, BBAG was able to further
increase its refinancing power. The EBITDA (operating result plus
depreciations) amounts to EUR 100.2 m, a plus of approximately 15%. The EBITDA
margin (divided by the turnover without excise tax) increased continuously from
19.2% at the end of 2000 to a current 21.6%. With this value, BBAG ranks among
the best in its line of business. The number of employees came down to 7.685 (-
8,9%).
Divisional results (in EUR millions)
Beer Non-Alcoholic Beverages Real Estate
Sales 489.0 (+5.2%) 66.1 (+0.7%) 6.3 (+4.6%)
EBIT 27.9 (+38.4%) 4.3 (-14.5%) 7.0 (+53.5%)
Depreciation 52.4 (+4.4%) 5.4 (+22.9%) 1.3 (+9.8%)
Investments 44.9 (-22.5%) 2.6 (-58.8%) 1.6 (-36.3%)
Beer sales of BBAG increased by 1.1% to 6.3 million hectolitres in the first
half of 2002. The group implements two basic strategies on all domestic markets:
strengthening of the brands we offer to provide them with a strong image and
make them innovative; and consistent cost management to improve
profitability.The concentration of the non-alcoholic beverage business on the
two brands of Pago and Gasteiner yields initial results: Pago sales remained at
the same level as last year. Adjusted by the DrinkVit brand, sales rose by 3.4%.
The negative figure of the mineral water business still includes Güssinger.
Gasteiner alone realised a growth of 14.1%.Turnover from rent and leasing rose
by 4.6%. The operative result was increased by 53.5%, adjusted by gains from the
sale of plants it is slightly above last year’s level. These profits will be
re-invested within the next 12 months for the purpose of fiscal optimisation.
This is why investments dropped by 36% for the time being.
end of ad-hoc-announcement (c)DGAP 30.08.2002
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WKN: 091099; ISIN: AT0000910997; Index:
Listed: Amtlicher Handel in Wien
300732 Aug 02
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