Bralirwa Plc has registered a 27.6 percent increase in revenue to Rwf157.6 billion in 2022, up from Rwf123 billion in 2021 driven by production growth and responsible pricing.
The company recorded a profit after tax worth Rwf22.5 billion, representing 28.7 percent increase from Rwf17.5 billion in 2021.
A dividend payment of Rwf21.9 percent per share, equal to 100 percent of net profit, will be issued on June 30, subject to shareholders’ approval at the Annual General Meeting slated for June 5, according to the local brewer.
Etienne Saada, Managing Director of Bralirwa, attributed the top line results to volume growth for both beer and soft drinks and improved price and mix.
"Revenue management combined with a focus on cost savings initiatives as well as operational efficiencies significantly impacted positively the operating results. During 2022, we continued to invest in our people, brands, capacity, sustainability, and digital solutions to drive sustainable performance,” he said.
Beer volume increased by 5.9 percent in 2022 compared to the previous year driven by higher Amstel, Heineken, and Turbo King growth.
On the other hand, soft drinks volume increased by 31.6 percent during the period under review, driven by the full re-opening of the market and events in addition to the revamping of the non-alcoholic beverages route-to-consumer.
The cost of sales increased to rwf85.9 billion in 2022 from Rwf72.4 billion, an 18.6 percent increase buoyed by the volume growth and higher input costs.
Results from operating activities increased by 35.1 percent compared to 2021 driven by the operational improvements and increase of the top line performance.
The expansion for the brewery in Gisenyi, Rubavu District has led to the increase in capital expenditure to Rwf29.4 billion from Rwf10.4 billion in 2021.
Bralirwa is a local company producing and selling beers and soft drinks with a brand portfolio that includes Amstel, Legend, Primus, Mutzig, and Turbo King.
Soft drink brands under an agreement with Coca Cola company include Coca Cola, Fanta, Sprite, Krest, Tonic, Stoney, Pineapple, and its own brands such as Vital’O and Cheetah –energy drink.
Bralirwa is listed with 25 percent shares on the Rwanda Stock Exchange.
Outlook for 2023
Ongoing uncertainties and resulting volatility in the global economy, especially the input costs, are expected to continue to impact African economies in 2023.
Bralirwa plans to further grow the top line, margin, and profit growth to continuously outperform in the Rwandan market as well as the broader African region with a continued growth of volume and value, cost management and further debt reduction.