- Hans Weber
- February 8, 2023
Budvar’s profit rose by more than 13 percent last year
Last year, Budějovický Budvar increased its pre-tax profit by 13.6 percent to 422.5 million. Revenues from selling products and services rose by 10.8 percent to CZK 3.11 billion. Profit after tax rose 10.5 percent to CZK 337.1 million.
Budvar CEO Petr Dvorák stated that the company’s EBITDA (earnings before interest, taxes, depreciation, and amortization) has increased by nearly 40% over the last five years profit was CZK 765.2 million last year.
“We are growing in volumes, and we are growing even faster in sales and profit. This is an ideal model in business, a sign of a very healthy company,” the director said.
Last year, Budvar brewed a record 1.8 million hectolitres, up 4.6 percent year on year. Beer sales surpassed CZK 3 billion for the first time last year, amounting to CZK 3.02 billion. Budvar exported over 1.3 million hectolitres of beer last year, up 11.3 percent yearly. It was a record growth, both in volume and sales.
Budvar invested CZK 347 million last year. Net sales exceeded CZK 3 billion for the third consecutive year, up from CZK 3.29 billion last year.
According to the annual report, exports accounted for 73.4 percent of the total last year, a 4.4 percent improvement year on year. Exports have helped Budvar to better results over the long term.