E-Malt.com News article: 2122

Czech beer maker Budweiser Budvar announced on January 29 that its beer production in 2003 fell by 3.5% year-on-year to 1.171 million hectoliters while revenue increased. Domestic sales for the company fell by 9% to 633 thousand hectolitres, although exports increased by 5% to 538 thousand hectolitres, director Jiri Bocek said.

However Budvar’s revenues for the year rose by 2% to Kc2.484 billion (US$92.7m) and gross profits are expected to have risen by 24% to Kc350m. Bocek attributed the decline of company’s output to the growing sales of cheap beers, which Budvar does not produce, and growing competition in the Czech market, especially on the part of Plzensky Prazdroj.

Meanwhile, Budvar increased its sales abroad. Its subsidiaries in Germany and the UK registered a growth in sales last year and improved the position of Budvar's premium lager on foreign markets. In Germany, Budweiser Budvar Deutschland saw sales rise by 12.2% to 176,549 hectolitres, while in the UK, Budweiser Budvar UK saw sales leap by 46.7% to 108,000 hectolitres.


04 February, 2004