NamBrew’s profit up 45.3%

Namibia Breweries Ltd, listed on the Local Index of the Namibian Stock Exchange (NSX), this morning released its financial results for the year ended 30 June 2022.Profit attributable to shareholders increased with 45.3% from N$378 million in the previous financial year to N$540 million in the current year, resulting in the earnings per share (EPS) for the year ended 30 June 2022 increasing to 262.5 cents (2021: 180.7 cents).These increases were attributable to normalised trading environments, especially in South Africa, NamBrew said.“Although South Africa was somewhat impacted in July 2021, NBL’s investment in Heineken delivered a positive return for the year ended 30 June 2022 compared to the previous period.”The group also released its Integrated Annual Report 2022. In the report, NamBrew commented as follows on the pending transaction with Dutch beer giant Heineken N.V:“A new Heineken majority-owned Southern African business, valued at approximately €4 billion, is intending to become the owner of NBL, Distell’s in scope assets and Heineken South Africa, creating a regional beverage champion for Southern Africa.This means that NBL will no longer be part of the O&L Group but will remain listed on the Namibian Stock Exchange. As part of this transaction NBL will further sell its 25% shareholding in Heineken South Africa to Heineken’s new unlisted public holding company.NBL is intending to acquire Distell’s operations in Namibia, thereby expanding our portfolio and gaining significant synergies within the bigger Heineken group.The Heineken transaction will create a platform that combines the export businesses of NBL, Heineken South Africa and Distell, giving it a highly competitive scale and reach. NBL will be Heineken’s exclusive partner for the production and distribution of a portfolio of alcoholic beverage brands in Namibia.On completion of the transaction NBL will also distribute wines, flavoured alcoholic beverages and spirits as we gain access to Distell’s brands. These include, but are not limited to, Tassenberg, 4th Street, Castello, Savanna, Hunters and Richelieu.There is an opportunity to move some of the production and packaging that is currently done in South Africa to Namibia, thereby optimising NBL’s current capacity and manufacturing infrastructure. Distell Namibia owns and operates four distribution depots in Windhoek, Oshakati, Walvis Bay and Keetmanshoop.The transaction will enable NBL to:‒ Grow volumes and market share in and beyond Namibian borders;‒ Offer customers a broad portfolio of categories and brands to reach more consumers across more occasions;‒ Optimise, build and integrate its digital capabilities;‒ Leverage supplier relationships for procurement synergies and scale;‒ Benchmark and manage overall costs, realising potential Distell synergies in terms of logistics, manufacturing and support functions; and‒ Continue balancing its responsibilities between maximising volumes and ensuring responsible behaviour and consumption.

NamBrew’s profit up 45.3%

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NamBrew’s profit up 45.3%

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