Australia: Coopers Brewery reports 1.5% increase in FY 2024 sales volume

Coopers Brewery has reported a total sales volume of 78.7 million litres for Financial Year 2024, a 1.5% increase on the year prior. Similarly, total profits increased from A$28.5 million to A$32.8 million. Managing Director Tim Cooper describes this as “a pleasing result for Coopers in light of the tough market conditions,” which have seen the category contract by 2.6%, Drinks Trade reported on November 8.

“To achieve growth at a time of rising costs of living is very encouraging for our sales and marketing teams,” continued Cooper.

“We like to talk to our brewing credentials and value-for-money across our portfolio, with consumer research continuing to highlight growing support for authentic brands that can be trusted, are high-quality and affordable.”

Coopers Brewery experienced growth across both kegged and packaged beer sales. Representing 12% of the total, sales of Coopers kegs increased by 1% on FY23, whilst sales of packaged beer increased by 1.5%. The ratio of cans to bottles has also increased, with canned sales now responsible for 43% of all total packaged beer.

Coopers partially attributes its volume growth to the ongoing success of Coopers Australian Lager.

“Since it was launched in August last year, Coopers Australian Lager has performed exceptionally well,” said Cooper.

“It’s a crisp, great tasting lager that has really hit the mark, attracting new drinkers to Coopers and also winning over existing customers. It has quickly become our second highest selling Coopers product on tap and our fifth highest selling overall.”

Despite the successful Australian Lager launch, recent CGA by NIQ on premise data shows that lager sales dropped 12% in the 12 months up to September despite the overall beer category experiencing a growth of 0.5%.

“Beer volumes in the last year have been resilient, certainly in the first three quarters as consumers turned to beer to adapt to cost-of-living pressures, with the category seeing the benefits of value-driven consumer mindsets,” said Thomas Graham, CGA by NIQ’s Senior Manager of Customer Success, Liquor.

“The decline more recently is due to the economic situation in Australia. As the household savings ratio is now at a 17-year low, and those all-important 35–54-year-olds who are most likely to drink beer being the ones more-likely to be affected by these economic challenges.”

Tim Cooper says that Coopers Brewery has noticed similar economic headwinds.

“The rising cost-of-living and cost-of-business, including the excessive tax on beer, are placing considerable pressure on all participants in the beer category, and have led to the closure of smaller operators and hospitality venues across the country,” he said.

“While not immune to these pressures, Coopers has continued to expand our product portfolio and invest in our brands, operations and people for the long term.”

Part of this long-term expansion includes the recent August opening of its new $70 million Regency Park facility, complete with whisky distillery, restaurant, bars, tasting room, and microbrewery.

At the time, Tim Cooper said “this is an ambitious project that will showcase Australian beer to the world. We’re very proud of our story over the past 160 years, arising from humble beginnings to prevail as an Australian-owned and operated brewery despite wars, recessions and takeover offers.”

Aside from beer, sales of Coopers DIY and other brewing products rose 8% in the past 12 months, while a tightening of demand across Asia’s food and beverage industry resulted in a 9% fall in malted barley sales.

The Coopers Foundation donated more than A$650,000 to 19 charities throughout the year.

08 November, 2024