Molson Coors sales of $ 2.9 million in the third quarter, up 1.8% year-over-year |

The Molson Coors brewery generated net sales of $ 2.9 billion ($ 2.5 billion) in the third quarter of 2018, up 1.8% from the same period last year. last year.

The group, which produces Coors Light, Miller Lite, Molson Canadian and Carling, said this result was due to positive global net prices in all segments, an increase in financial volume in Europe, the United States and Canada and a favorable combination in Europe, partially offset by an unfavorable foreign currency. movements and the adoption of the new accounting standard for revenue recognition.

In constant currencies, net sales increased by 2.5%.

European and international boost

Despite the increase in sales, the volume of its brands worldwide decreased by 1% to 25.3 million hectoliters, while its operations in the United States and Canada decreased by 3.3% and 1.4% respectively. Its European and international activities recorded an increase of 2.1% and 13.8% respectively, due to the performance of the main brands.

"This quarter reflects progress on many fronts as we pursue our consistent First Choice strategy of earning more, using less and investing wisely as brand volume increases in developed and non-developed markets. North America's NSR / HL has grown worldwide underlying underlying currency EBITDA in each of our four business units, "said Mark Hunker, President and Chief Executive Officer. chief executive officer.

"Volume growth outside North America is due to the consistency of our First Choice strategy, the breadth and depth of our global brand portfolio and a positive industry.

"Europe, our second largest business unit in volume, is growing steadily and accelerating the pace of portfolio premiumization, while our international unit, led by Latin American markets, has grown at the same time. mid-teens because of the strong performance of our global brands. "

Forecasts for the full year of 2018 remain virtually unchanged, he said, as they still expect an underlying free cash flow of US $ 1.5 billion (US $ 1.3 billion). billion euros), plus or minus 10%.

© 2018 Check-out – your source for the latest news on Irish retail. Article by Aidan O'Sullivan. Click on subscribe sign up for the Check-out printed edition.