Molson Coors has reported net sales growth of 4.1% on a reported basis, to $10.7 billion, in its financial year 2022, driven by positive net pricing and favourable sales mix, partially offset by lower financial volumes.
Reported net sales per hectolitre on a financial volume basis increased 7.8% following portfolio premiumisation and favourable channel mix.
Net sales in the EMEA and APAC increased by 11.3%, while the Americas region witnessed 2.7% growth.
'A Milestone On Our Path'
Gavin Hattersley, president and chief executive officer of Molson Coors, said, "In 2022, Molson Coors delivered strong results for the year that exceeded our top-line guidance and met our bottom-line guidance for the full year. Our business is healthier today than it has been in many years, and our trajectory is strong.
"We have delivered our seventh consecutive quarter of top-line growth on a constant currency basis, driven by the strength of our core brands and growth in our above premium portfolio. We believe our 2022 results are not an aberration or a moment in time but a product of three years of work under our Revitalisation Plan. And it is a milestone on our path to delivering sustainable growth, year after year."
In the fourth quarter, the company's reported net sales increased 0.4% year-on-year to $2.6 billion.
Reported net sales per hectolitre on a financial volume basis increased 7.8%.
Outlook
Molson Coors believes it is well-positioned for long-term success despite an uncertain near-term macro environment.
The strength of the its brands, coupled with continued investments in marketing and operational capabilities, provide a strong foundation for expected continued growth in 2023 and beyond, the company noted.
Tracey Joubert, chief financial officer, added, "We are proud of our accomplishments in 2022 particularly given the challenging inflationary and operating environment.
"While we expect these challenges to continue to impact us and our industry in 2023, we are issuing guidance for the year that anticipates continued growth while investing prudently in the long term health of the business and returning cash to shareholders."
© 2023 European Supermarket Magazine – your source for the latest drinks news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.
