E-Malt.com News article: 3726

Romania: The international beer producer SABMiller plc announced on November 19, 2004 strong financial results for the first six months of the financial year, ending in March 2005. The turnover grew by 14% during April – September 2004, compared to the same period of 2003, registering an increase from USD 6,282 million to USD 7,178 million. The EBITA increased by 28%, from USD 888 million in 2003, to USD 1,141 million, in September 2004.

"These results are impressive for their strength and their breadth and demonstrate our ability to deliver good, organic, constant currency growth in EBITA from all our business segments despite some challenging operating environments. The turnaround in the performance of Miller was a strong feature.

The strength of our brands, leading positions in many markets and improving mix effects, underpin our position as one of the leaders in the brewing industry, with a strong business portfolio, well balanced between established and developing markets", states Graham Mackay, Chief Executive of SABMiller plc.

SABMiller revenues grew in Romania - SABMiller plc operations in Romania are significantly outperforming the industry's 2% growth with organic volumes up 14%. Ursus has become the country's leading beer brand and its growth is driving margin enhancement, while Timișoreana Lux's increasing popularity and availability is driving volume. Revenues grew significantly ahead of volumes, driven by positive price and mix trends, and profitability was further enhanced by improving economies of scale. In June 2004, SABMiller plc acquired S.C. Aurora S.A. Brașov and this provided the group with a leading regional brand in Romania and the first PET pack in European operations.

SABMiller plc has been present in Romania since 1996 and currently has 4 breweries with a total capacity of 3 million hectoliters and approximately 1,300 employees. SABMiller plc operations are based in
Cluj - Napoca, Buzău, Timișoara and Brașov and it maintains an estimated market share of 22%. The brands brewed by SABMiller plc in Romania include Ursus Premium, Timișoreana Lux, Ciucaș, and the distribution of Pilsner Urquell.

SABMiller plc is one of the top 3 beer producers in the world, with a volume of 137.8 million hectoliters during the year ended March 31st, 2004. The company is present in over 40 countries on 4 continents, with a strong brand portfolio and a leading position in many of the countries where it has breweries.

SABMiller plc is listed on the London and Johannesburg Stock Exchanges.


28 November, 2004