Mozambique: Leading brewer Cervejas de Mozambique reports almost tripled profit for 2024

The profit of Cervejas de Mozambique (CDM) almost tripled in 2024 to 1.706 billion meticais (€24 million), according to the report and accounts of the company, which produces the main Mozambican beer brands, Club of Mozambique reported on May 22.

According to the report, sales gave CDM a gross profit of 8.35 billion meticais (€117.8 million) in 2024, compared to 8.15 million meticais (€115 million) the previous year.

In 2023, CDM had recorded a net profit of 577 million meticais (€8.1 million), according to data from the company’s report and accounts. The company decided to pay dividends to shareholders of 3.28 meticais (€0.04) per share, more than double the previous year.

Cervejas de Moçambique is part of the Belgian group Anheuser-Busch InBev (ABinBEV), the world’s largest beer producer, which holds 83.01% of the share capital, in which the Mozambican state is also represented with a share of 1.37%, and the National Institute of Social Security with 2.6%.

Considered one of the largest companies in the country, CDM was established on 1 August 1995, following the privatisation of the MacMahon and Manica breweries, in Maputo and Beira, respectively. The company therefore produces historic brands such as Laurentina (launched in 1932), which it acquired in 2022, or 2M.

The company, which dominates the Mozambican beer market, has as its main activity the production, distribution and sale of beer and other beverages.

CDM’s portfolio also includes Impala beers, one produced from cassava and the other from corn, launched in 2011 and 2017 respectively, and this brand is the “most affordable on the market” due to the special tax regime.

“It is a socioeconomic project that encourages domestic agriculture, benefiting and changing the lives of local communities, impacting more than six thousand small national farmers and around 190,000 people involved in its value chain,” the company says about the Impala beer brand.

Laurentina Clara, the first beer in Mozambique, was launched by Greek immigrant called Cretikos, who founded the Vcitória brewery. In 1950, the MacMahon factory was opened in Maputo, whose name gave rise to the popular Mozambican beer 2M. Five years later, the Manica brewery was opened in Beira.

The beer industry in Mozambique saw the founding in 1972 of Sogere – Sociedade Geral de Cervejas e Refrigerantes de Moçambique, which resulted from the association of several beer and soft drink producers in the country, namely the MacMahon and Manica breweries and Cervejas Reunidas, but which was nationalized eight years later.

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