Annual Results 2007 13 maart 2008. 2 Michel Moortgat - CEO Daniel Krug – COO Herbert De Loose -...
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Transcript of Annual Results 2007 13 maart 2008. 2 Michel Moortgat - CEO Daniel Krug – COO Herbert De Loose -...
Annual Results 2007
13 maart 2008
2
•Michel Moortgat - CEO
•Daniel Krug – COO
•Herbert De Loose - CFO
SPEAKERS
3
MISSION STATEMENT
Mission statement
Driven by quality, Duvel Moortgat is a niche player that aims to occupy a leading position in the profitable segments of specialty beers and premium brands…
…both in Belgium and in its priority export markets.
4
Financial year 2007
•Sales
•Investments
•Key figures
•Prospects 2008
AGENDA
5
Financial year 2007
•SalesSales•Investments
•Key figures
•Prospects 2008
AGENDA
6
SALES
45.40948.883
56.088
61.29966.312
74.597
87.452
30000
40000
50000
60000
70000
80000
90000
2001 2002 2003 2004 2005 2006 2007
7
SALES
Turnover increases with 17,2% to € 87,5 million.
10,9% internal growth
Growth of 79% in the last 5 years.
41% of sale has been realised abroad
8
SALES
Sales evolution per Brand
•Duvel + 5,3%
•Maredsous + 16,6%
•Bel Pils + 7,7%
•Vedett + 24,0%
•Bernard + 25,0%
•Ommegang + 50,6%
•Chouffe + 36,3%
9
SALES
Omzet naar producten
56,26%
4,64%
3,45%
3,53%
6,64%
7,13%
3,51%14,83%
Duvel
Maredsous
Bel
Vedett
Bernard
Achouffe
Ommegang
andere
10
SALES
Sales evolution per Market
•Belgium + 9,90%
•The Netherlands + 23,44%
•France + 35,77%
•UK + 12,88%
•US + 32,40%
•Czech Republic + 25,24%
11
SALES
Buitenlandse activiteiten Duvel Moortgat
23,57%
20,50%
19,89%
16,31%10,62%9,11%
USA
Nederland
Frankrijk
Tsjechië
andere landen
UK
12
Financial year 2007
•Sales
•InvestmentsInvestments•Key figures
•Prospects 2008
AGENDA
13
INVESTMENTS
In 2007 for € 21,8 million (2006: € 12,6
million) investments:
• € 8,9 million for new brewhall
• € 3,3 million in purchase and renovation of horeca outlets and company premises
14
INVESTMENTS
In 2007 for € 21,8 million (2006: € 12,6
million) investments:
•€ 4,4 million for cases, bottles and kegs
•€ 1,4 million in CCT’s, fermentation and lagering
15
Financial year 2007
•Sales
•Investments
•Key figuresKey figures•Prospects 2008
AGENDA
16
KEY FIGURES
16.273
17.533
12000
13000
14000
15000
16000
17000
18000
2006 2007
EBIT +7,8%
17
KEY FIGURES
•EBIT without Achouffe rises with 3,5%
•Ebit margin decreases from 21,8% (2006) to 20,00%
•Strongly influenced by high prices of raw materials and energy and higher depreciations
18
KEY FIGURES
16.252
17.216
12000
13000
14000
15000
16000
17000
18000
2006 2007
Ordinary profit before tax
+5,9%
19
KEY FIGURES
•Negative financial result is caused by the recalculation of foreign currencies
•Higher costs of debts, compared to 2006, are partly covered by higher intrest gains
20
KEY FIGURES
10.692
11.828
8000
8500
9000
9500
10000
10500
11000
11500
12000
2006 2007
Net profit
+10,6%
22
KEY FIGURES
24.340
26.176
19000
23000
27000
2006 2007
EBITDA+7,5%
23
KEY FIGURES
18.760
21.587
15000
20000
25000
2006 2007
Cash Flow+15.07 %
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KEY FIGURES
Key figures per share:
2006 2007
Nominal number of shares
5.362.030 5.366.030
Ordinary profit before tax
3,03 3,22
Group share of profits 1,99 2,20
Cash flow 3,50 4,05
Gross dividend 0,72 0,80
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KEY FIGURES
Changes in the scope of consolidation:
• Duvel Moortgat Shangai Ltd
• Duvel Moortgat Hong Kong Ltd
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Financial year 2007
•Sales
•Investments
•Key figures
•Prospects 2008Prospects 2008
AGENDA
27
PROSPECTS
€ 15 million various investments in 2008:
•The completion of ecological investments started in 2007
•Extension of the fermentation and lagering capacity (6CCT’s) in Puurs
•Czech Republic: construction of new adminitrative building
28
PROSPECTS
€ 15 million various investments in 2008 :
•Czech Republic & US: increase of the fermentation and lagering capacity
29
PROSPECTS
Expensive raw materials will keep presure on the margins in 2008
30
PROSPECTS
Brouwerij Liefmans:
•From 20/02/2008 onwards temporary licence to run the business.
•Bid to take over an important part of the assets of Liefmans.
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PROSPECTS
•Ambition is to realize a growth in turnover of 10%
•and a growth of EBITDA of 8 to
10%
32
PROSPECTS
QUESTIONS
&
ANSWERS
33
PROSPECTS
QUESTIONS
&
ANSWERS