23.6 C
Tuesday, September 26, 2023

EABL’s profit rises 124 percent as company marks 100 years


Related stories

Janet Mbugua opens up on quitting the bottle

Janet Mbugua, a prominent media personality and mother of...

Kipyegon facing deep field in quest for third world title of the season

Faith Kipyegon showed with her 5000m world record earlier this...

Will Harambee Stars choice to play Russia in international friendly lead to repercussions?

The Kenya national football team, Harambee Stars, is gearing...

Kenyan referee chuffed with prospects of maiden AFCON appearance

Harambee Stars will not be participating in the 2023...

Harambee Starlets out to turn tables on Cameroon and advance

National women’s football team, Harambee Starlets, host Cameroon’s Indomitable...

East African Breweries PLC (EABL) has reported Kshs 109.4 billion in net sales for the full year ended 30 June 2022, representing a 27 percent growth compared to the same period last year, as the business marks 100 years of operations in the region.

The Group’s net sales were boosted by double-digit growth across all its markets and categories owing to an improved operating environment as outlets reopened, coupled with sustained investment in marketing and commercial activities. EABL navigated rising inflation and increase in excise taxes through strategic pricing and effective cost management to deliver its highest profit in 5 years of Kshs 15.6 billion, up 124 percent.

EABL Group MD and CEO, Ms. Jane Karuku named among the 2021 definitive list of African women CEOs

EABL delivered a strong beer performance, up 27 percent, aided by the beer recovery in Kenya. The Group’s spirits category was up 26 percent, boosted by a 27 percent growth in mainstream spirits.

EABL Group MD and CEO, Ms. Jane Karuku, said: “EABL has delivered another set of consistently strong results across key metrics. These results reflect the high-performance culture we have created across the business, the rigorous execution of our strategy, the strength of our portfolio across categories, and our agility in responding to emerging trends and insights.”

Full-year Market Highlights:

  • Kenya: EABL’s largest market, Kenya, delivered 30 percent net sales growth, mainly on the back of strong beer recovery and continued growth in spirits – fuelled by premium and upper mainstream segments.
  • Uganda: Net sales grew 24 percent supported by the market’s excellent route to consumer execution and brilliant brand building. Uganda also benefited from accelerated margin expansion through strategic pricing actions.
  • Tanzania: Net sales grew 21 percent, driven by the consistent growth of the Serengeti Trademark and an expanded brand portfolio. Local production of spirits helped deliver further incremental growth, cementing the business as a total beverage alcohol player.

Ms. Karuku added: “Although these results show we are now ahead of our pre-COVID growth trajectory, the challenging macro-economic environment, volatile tax, and regulatory policy will continue to impact our business. Yet, our sharp focus on executing against our strategy, supported by an external focus, data-led insights, and a culture of everyday efficiency will help us navigate current and future headwinds. As we celebrate 100 years of EABL’s operations in the region, we believe we are well positioned to deliver sustainable long-term growth.”

Ms. Karuku said EABL’s Environmental, Social, and Governance (ESG) agenda remained a key focus in the year with the finalization of the Kshs 5 billion biomass plant being a key milestone.

Gov’t planning to start local manufacture of COVID-19 vaccine

“This facility will help us achieve Net Zero status, reducing our carbon emissions by 42,000 metric tonnes annually. Our water stewardship has continued, as we replenished over 360,000 cubic metres of water during the year across East Africa. Our positive drinking efforts have reached over 17 million people, as we continue to focus more sharply on long-term projects aimed at combating underage drinking and encouraging responsible drinking AMONG those OF the legal purchase age. We also launched our inaugural and award-winning sustainability report during the year,” added Ms. Karuku.


- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.