E-Malt.com News article: 1085

Heineken's Polish brewing group Zywiec posted a PLN 10 mln net profit in the first quarter of 2003, a welcome if modest improvement from the prior year's first quarter loss. A first quarter consolidated report out Wednesday showed revenues flat alongside remarkable gains in most levels of profitability.

The Zywiec standalone figures showed 5 percent revenue growth to PLN 224.5 mln, an operating profit of PLN 32 mln and a net profit of PLN 14 mln.

Zywiec plans to reach 3-5 percent growth in beer sales in 2003 despite a tough first quarter, Zywiec Group president Nico Nusmeier said in April.

"Despite the difficult first quarter, we maintain our forecast for sales and for the whole market . . . In the first quarter we maintained our market share. Regarding the situation on the market we are rather satisfied; still we need to operate better to meet plans," Nusmeier then said.

Poland's biggest brewers are SABMiller's Kompania Piwowarska (some 35 % market share with to-be-purchased Dojlidy), Heineken's Zywiec (over 32 %) and Carlsberg's Okocim (14 %).


19 May, 2003