Breweries resilience, ability to adapt to changes in the operating environment evident in latest financial post
Namibia Breweries Limited (NBL) – a subsidiary of the Ohlthaver & List (O&L) Group delivered a strong financial performance in 2019 with operating profit, earnings per ordinary share and profit attributable to shareholders increasing by 6.3%, 134% and 134%, respectively.
The NBL Board declared a final dividend of 50c on 4 September, which represents an increase of 8.7% from the previous period and approved an additional special dividend of 121.05 cents per share.
NBL Managing Director (MD), Marco Wenk said, “While NBL has seen significant growth over the past years, Namibia is without a doubt facing challenging economic conditions. These will require that we take all measures necessary to ensure we place maximum focus on efficiencies and an ongoing sustainable business. We also have to continuously challenge ourselves to innovate and find opportunities for growth, within as well as outside our borders”.
“For the first time in three years, volumes in Namibia started picking up again, delivering 3.9% growth on 2018 against a recessionary backdrop,” said NBL Finance Director, Waldemar von Lieres.
Volume growth to South Africa reached a stellar 44.8%. Export volumes decreased by 31.2%. Overall volumes increased by 13.8% with revenue increasing by 15.3%. Profit attributable to shareholders of N$932 million was delivered – an increase of 134% on prior year. Heineken South Africa made a significant contribution to profit by delivering N$106 million (2018: N$96 million) in royalties, he added.
According to him, NBL’s share in associate profit amounted to N$451 million in 2019 (N$335 million recognition of deferred tax asset and N$116 million share of associate profit).
Meanwhile looking forward, Wenk said innovation within all spheres of the business is a strong focus for NBL and will support from both a volume growth but also bottom line performance perspective.
“Our focus to maintain and grow market share both within as well as outside of our boarders will remain high on our agenda while providing an environment for our people to grow and succeed will remain a key deliverable to ensure NBL’s future success as well as to deliver our Groups Vision towards 2025,”he concluded.
Caption: Managing Director of Namibia Breweries Limited (NBL) – a subsidiary of the Ohlthaver & List (O&L) Group -, Marco Wenk (right) and the NBL Finance Director, Waldemar von Lieres celebrate NBL’s financial results for the year ended, 30 June 2019.