Denmark: Royal Unibrew’s revenue up 14%

Royal Unibrew, Denmark’s second largest brewer, has recorded net revenues of 3,056 million kroner (approx $555 million) for the first three quarters of the year, up 14% on the same period of the previous year (2,670 million kroner – approx $485 million).

Reporting its latest financial results, the brewer of brands including Royal, Ceres, Faxe Condi and Albani also declared earnings (EBITDA) of 545 million kroner (approx $99 million), up 14% on the first three quarters of 2012 (490 million kroner – approx $89 million). Meanwhile sales volumes increased by 17%.

Based on the results for the year to 30 September 2013, Royal Unibrew now expects net revenue of 4,340 – 4,425 million kroner (approx $788-804 million), EBITDA of 695-735 million kroner (approx $126-134 million), and EBIT of 510-550 million kroner (approx $93-100 million) for 2013.

The improved financial results were attributed to the good summer weather, improvements in the supply chain and the acquisition of the Finnish beverage company Hartwall, the latter representing 27 million kroner (approx $5 million) of Royal Unibrew’s EBITDA.

Commenting on the results, Royal Unibrew CEO Henrik Brandt said: “Our malt beverages business saw the highest growth as the result of our focus in this area. But also the Baltic countries experienced a high growth rate, and, in the Danish market, the Royal Beer and Faxe Condi brands continued to show progress.”

In addition to its own brands, Royal Unibrew also brews and markets Heineken in Denmark.