Belgium: Duvel Moortgat’s consolidated turnover rises by 8.2%

Belgium’s brewery Duvel Moortgat has posted 2005 consolidated turnover of EUR 66 million, up 8.2% on 2004. Global turnover increased by 5% with growth pushed by speciality beers such as the 3 Maredsous abbey beers (+17%), Bel (+12%) and Vedett (up almost 100%).The Turnover of the locally brewed Czech Bernard beers rose by 28%. Ommegang products in the United States are up 39%.

However, with Belgian beer consumption decreasing by 0.93% in 2005, Duvel Moortgat had no choice but to continue the internationalisation. Last year some 35% of turnover, versus 30% in 2004, came from international activities. In Belgium and the Netherlands, turnover increased by respectively 3% and 8%, not taking into account Freya natural fruit juices. In France, turnover is up 19% and sales of beers in the UK rose 47%. Sales in the United States also shot up, increasing some 40%.

"Abroad, the brewery will continue to expand its sales teams and strengthen its marketing efforts to reinforce Duvel's image and distribution in on-and-off trade outlets. Vedett will continue to focus its commercial efforts on the Belgian market," the company said yesterday in a statement.

Duvel intends to invest some EUR 12 million in 2006. The main investments cited by the group are EUR 4.3 million for a brewing room, EUR 1 million for a visitors center, EUR 2.6 million on trade outlets, and EUR 1.8 million for crates, bottles and barrels. With the US brewery Ommegang reaching maximal capacity, a further EUR 6 million will be invested over 2006 and 2007, doubling production capacity at the New York plant.

Duvel Moortgat, tracing its history back to 1871, is Belgium's sixth largest brewery group in terms of sales. The company, quoted since June 1999 on Euronext Brussels, has acquired a reputation among beer lovers for its high fermentation beers largely due to its best-selling beer, Duvel.

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