Royal Unibrew's 2010 results
Royal Unibrew has today announced full year 2010 results. Net profit for the year amounted to DKK 278 million compared to DKK 52 million in 2009. RU proposes to distribute DKK 250 million to shareholders at up-coming AGM.
”In 2010 we reinforced our market positions through increased marketing efforts and several new product launches. At the same time, we maintained focus on increasing efficiency and reducing our costs. This has enabled us to continue the Group’s positive performance trend in spite of generally lower demand and keen competition. Royal Unibrew is in a good position to capitalise on market opportunities in 2011, and we will continue developing our products and brands.” says managing director Henrik Brandt in connection with publication of Royal Unibrew’s Annual Report 2010.HIGHLIGHTS 2010
Strengthening of Royal Unibrew’s market position - Generally market shares were won or defended on branded beer as well as soft and malt drinks.
Net revenue declined by 1% to DKK 3,775 million in 2010. Adjusted for the divestment of the Caribbean breweries, organic net revenue growth of 3% was achieved.
EBITDA (before special items) increased by DKK 141 million (31%) to DKK 601 million.
Operating profit (EBIT before special items) increased by DKK 174 million (72%) to DKK 417 million. DKK 20 million of the increase was caused by the change of accounting estimates.Profit before tax amounted to DKK 375 million compared to DKK 77 million in 2009.
Net profit for the year amounted to DKK 278 million compared to DKK 52 million in 2009.
Free cash flow amounted to DKK 463 million – DKK 89 million above the 2009 figure.
Significant reduction of interest-bearing debt. Net interest-bearing debt was reduced in 2010 by DKK 646 million to DKK 770 million against approx DKK 850 million previously announced.
The Supervisory Board proposes distribution by way of dividend of DKK 12.5 per share and a share buy-back of DKK 110 million, corresponding to a total distribution of DKK 250 million, which is DKK 50 million more than previously announced.