Brief: Royal Unibrew Q4 EBIT Down At DKK 306 Million

Royal Unibrew A/S

01/03/2023 15:34

March 1 (Reuters) - Royal Unibrew A/S  RBREW.CO :
    * Q4 EBIT DKK 306 MILLION (2021: DKK 305 MILLION)
    * PRICE INCREASES IMPLEMENTED THROUGHOUT 2022 SUPPORTED TOP
LINE
IN Q4
    * WESTERN EUROPE, DRIVEN BY DESTOCKING IN ITALY, EXPERIENCED
WEAKNESS BOTH ON TOP LINE AND EARNINGS
    * SIGNIFICANT COST INCREASES ARE EXPECTED DURING 2023
PRIMARILY
STEMMING FROM RAW AND PACKAGING MATERIALS, ALSO DUE TO GENERAL
INFLATIONARY PRESSURE
    * IN 2023, OUR CAPEX IS EXPECTED TO BE AROUND 5-6% OF NET
REVENUE
    * IMPACT OF DESTOCKING IN ITALY WAS BIGGER THAN INITIALLY
ESTIMATED
    * DESTOCKING WE HAVE SEEN IN ITALY CONTINUE INTO BEGINNING
OF 2023
    * EXPECTS AFFORDABILITY TO REMAIN A KEY FOCUS FOR CONSUMERS
DURING
2023
    * ON DESTOCKING 2023: WE EXPECT BUSINESS TO RETURN TO NORMAL
DURING EARLY SPRINGTIME
    * SEES CHANNEL MIX TO BE SLIGHTLY NEGATIVE
    * SEES  PRIVATE LABEL AND DISCOUNT BRANDS TO GAIN SHARE IN
OVERALL
MARKET

Source text for Eikon:  ID:nGNE8626n 
Further company coverage:  RBREW.CO 

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