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Zywiec disappoints in H1, blames external factors

Heineken's WSE-listed brewing group Zywiec managed a 3.7% y/y increase in attributable net profit in H1 2017 on a 10% y/y drop in revenues, the company said in a financial report out Monday morning.

ZYWIEC H1 RESULTS VS. PRIOR-YEAR PERIOD:

 
Full size
 H1 2017H1 2016Q1 y/y
  PLN mln PLN mln %
Revenues 1 131,1 1 262,4 -10,4
Operating profit 173,5 170,9 1,6
Net profit 134,8 130,0 3,7
attrib. Net Profit 134,8 130,0 3,7
 

The firm's H1 beer sales volumes were down by 3.4% y/y as the whole market shrank at a "single-digit rate" in y/y terms, amid higher prices, poorer weather and the lack of favorable one-off events, the management noted in a comment to the results.

 

Operating earnings improved, supported by an increase in margin generated as well as lower operational costs.

2017-07-31



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