E-Malt.com News article: 787

The Belgian brewing combine, Interbrew, posted a 13% fall in net profit for 2002 which it attributed principally to the loss of contributions from Carling, which it sold to the US brewer, Coors, during 2002. Net profit from ordinary activities fell by 13% from EUR 537m to EUR 467m, while EBITDA fell by 9.1% from EUR 1.53 billion to EUR 1.39 billion.

In Western Europe, Interbrew said organic volume growth reached 1.9%, while the group achieved organic EBITDA growth of 6.8%. In the Americas, volume grew by 2.1% on an organic basis while organic net turnover growth was 5.1% and organic EBITDA growth reached 12.6%.

Emerging markets, which include Eastern European and Asian countries, recorded organic net turnover growth of 5.3%, with organic volume growth of 2.2%.

“Interbrew has a truly outstanding portfolio of brands which provide an impressive platform for growth," said John Brock, the group's new chief executive officer.

Brock said he believes the group needs to have a greater focus on organic volume growth, integration and synergy capture, "as they are the cornerstones of all successful consumer goods companies". Brock also said that acquisition opportunities will be closely scrutinized "to ensure that they continue to be strategic and, in a more competitive mergers and acquisitions environment, to create real value."



20 March, 2003