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(Boursier.com) — For the first half of the 2023-2024 financial year, in a context of a slightly declining beer market, Franco-Belgian Malteries held up well with sales amounting to 69.5 million euros, up more than 15% compared to the previous year. This good progress was achieved at stable volumes with an increase in sales prices reflecting the annual contractual renegotiations implemented for the calendar year 2023, particularly on barley prices.
The group’s net profit amounted to €20.3 million for the first half of the 2023-2024 financial year, an increase of almost €11 million over the previous year, reflecting the good operational performance of the French factories but also of subsidiaries in Eastern Europe.
As of December 31, 2023, the financial situation of Malteries Franco Belges emerges strengthened from this half-year with shareholders’ funds at 282.1 ME, a positive net financial cash flow of 69 ME, an increase of 6 ME and a stable working capital requirement despite the increase in turnover.
In terms of Social and Environmental Responsibility, Malteries Franco Belges is continuing its Ambition 2030 plan based on 3 pillars: safety at work; operations with the reduction of CO2 emissions and water consumption; the supply of sustainable barley. The results obtained fall within the defined trajectory.
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Outlook
After an encouraging first half for the results of Malteries Franco Belges, the beer market continues to mark time in terms of volume, with an overall slowdown in global consumption. The slowdown in inflation and the falls in the prices of raw materials and energy could have a positive impact on the recovery but, to date, caution remains in order.
In the specific cases of Russia and Ukraine, the context still remains fraught with numerous uncertainties but the teams continue to be strongly committed.
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