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Beer sales unaffected by recession

Beer sales unaffected by recession

Business Reporter

NAMIBIA Breweries Limited 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.
NBL Francios Olivier, stated that the company’s performance this year is testimony of NBL’s, a subsidiary of the Ohlthaver & List Group spokesperson, resilience and ability to adapt to changes in its operating environment. The breweries revenue was recorded as N$3 billion, up by 15.3%, while profit after tax increased to N$931 million, up by 134%.
Olivier stated that the results are also a reflection of NBL employees taking ownership of challenges and creating opportunities to bring their purpose to life.

Pictured: NBL Managing Director, Marco Wenk (right) and NBL Finance Director, Waldemar von Lieres enjoying the latest innovation to the NBL beer portfolio, Windhoek Non-Alcoholic. – Photo: Contributed

The NBL Board declared a final dividend of 50c on 4 September 2019, 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 stated: “Whilst 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.”
Wenk concluded that Innovation within all spheres of their 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 added.
Also commenting on the stellar results, NBL Finance Director, Waldemar von Lieres stated that for the first time in three years, volumes in Namibia started picking up again, delivering 3.9% growth on 2018 against a recessionary backdrop.
“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%,” Lieres said.
He added that 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. 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).
Namibia Breweries Limited employs 801 permanent employees. The company is listed on the Namibian Stock Exchange (NSX). The O&L Group’s brand portfolio includes leading brands such as Tafel Lager, Windhoek Lager, Windhoek Draught, Windhoek Light, Tafel Radler, Tafel Lite, King Lager, Camelthorn, McKane and AquaSplash, amongst others.

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