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Annual Results 2006

Annual Results 2006. 15 maart 2007. Driven by quality, Duvel Moortgat is a niche player that aims to occupy a leading position in the profitable segments of specialty beers and premium brands… …both in Belgium and in its priority export markets. MISSION STATEMENT. Mission statement. AGENDA.

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Annual Results 2006

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  1. Annual Results 2006 15 maart 2007

  2. Driven by quality, Duvel Moortgat is a niche player that aims to occupy a leading position in the profitable segments of specialty beers and premium brands… …both in Belgium and in its priority export markets. MISSION STATEMENT Mission statement

  3. AGENDA • Financial year 2006 • Sales • Investments • Key figures • Prospects 2007

  4. AGENDA • Financial year 2006 • Sales • Investments • Key figures • Prospects 2007

  5. SALES

  6. SALES Turnover increases with 12,5% to € 74,5 million. 2% external growth (3 months sales of Achouffe). Since IPO in 1999 sales doubled.

  7. SALES • Sales evolution per Brand • Duvel + 6,4% • Maredsous + 19% • Bel Pils + 19% • Vedett + 71,4% • Bernard + 9,3% • Ommegang + 26,9% • Chouffe + 20,4%

  8. SALES

  9. SALES • Sales evolution per Market • Belgium + 9,08% • The Netherlands + 11,32% • France + 17,48% • UK + 39,62% • US + 25,70% • Czech Republic + 9,96%

  10. SALES

  11. AGENDA • Financial year 2006 • Sales • Investments • Key figures • Prospects 2007

  12. INVESTMENTS • In 2006 for € 12,6 million (2005: € 10,4 • million) investments: • € 1,7 million for new warehouse MHS • € 1,2 million in purchase and renovation of horeca outlets • € 1,6 million for cases, bottles and kegs

  13. INVESTMENTS • In 2006 for € 12,6 million (2005: € 10,4 • million) investments: • € 1 million in the new visitor center • € 1 million in production machinery with Bernard Brewery • € 4,1 million in production technical investments among which € 2,4 million prelimenary work for the new brewhouse

  14. AGENDA • Financial year 2006 • Sales • Investments • Key figures • Prospects 2007

  15. KEY FIGURES EBIT +12,1%

  16. KEY FIGURES • Ebit margin rises from 20,58% (30/06/2006) to 21,74% • Strong growth of EBIT in 2nd semester • Exceptional depreciation for demolition of a warehouse • Depreciation of leashold improvements of Belga Bar

  17. KEY FIGURES Ordinary profit before tax +10,7%

  18. KEY FIGURES • Negative financial results caused by: • Recalculation of foreign currency • Higher intrest cost because of additional long term loans

  19. KEY FIGURES Net profit +10,2%

  20. KEY FIGURES Taxes: The effect for Belgian companies of the notional intrest is approximately 4%

  21. KEY FIGURES EBITDA +11,3%

  22. KEY FIGURES Cash Flow +9,9%

  23. KEY FIGURES Key figures per share:

  24. KEY FIGURES • Changes in the scope of consolidation: • 07/09/2006: take over of 100% of shares of Brasserie d’ Achouffe • 01/07/2006: Start of Duvel Moortgat UK Ltd as commercial agent • End of 2006: LFB group opens a new bar in Nancy

  25. AGENDA • Financial year 2006 • Sales • Investments • Key figures • Prospects 2007

  26. PROSPECTS • € 20 million investments in 2007: • The completion of the new brewhall: € 7.5 mio • Ecological investments like • the installation of solar panels, • a gasturbine working on methane coming from the water purification station • CO2 recyclinginstallation.

  27. PROSPECTS • € 20 million investments in 2007: • Extension of the maturation capacity (building + 6 CCT’s): € 3.5 mio • Czech Republic & US: increase capacity of the fermentation and lagering: €1.3 mio • purchase and renovation of horeca outlets: €1.5 mio

  28. PROSPECTS • € 20 million investments in 2007: • Achouffe: capacity increase & water treatment & packaging: € 2 mio. • Packaging Duvel Moortgat: € 2 mio

  29. PROSPECTS • Further expand the growth of the group in all priority markets. • Start with export of Vedett. • Optimizing and internationalizing the image of Maredsous.

  30. PROSPECTS • A good start in the first months but: • Growing prices of raw materials and energy prices • From 1st of april levy of ‘eco taxes’ on reusable packaging • Uncertainty about ‘packaging duties’

  31. PROSPECTS • Rising prices of raw materials and energy: € 2.2/hl = +-1.5% • From 1st of april levy of ‘eco taxes’ on reusable packaging: € 1.4/hl = < 1% • Uncertainty about ‘packaging duties’

  32. PROSPECTS • Intention is to realize a growth in turnover of 10% • And a growth of EBITDA of • 10%

  33. PROSPECTS QUESTIONS & ANSWERS

  34. PROSPECTS QUESTIONS & ANSWERS

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