- Q2 sales rise 2.2% to US$2.92bn
- Sales in six months to end of June +8.2% at $5.14bn
- ‘Americas’ region dips 1.7% in Q2 – $2.37bn
- ‘Europe, Middle East & Africa and Asia-Pacific’ leaps 20.5% to $558.2m
A slowing rate of growth in the second quarter has been offset by a healthier “above-premium” performance for Molson Coors Beverage Co.
The beer-dominant drinks group saw sales in the three months to the end of June inch up by just over 2% as volumes fell by 4.6%. While pricing played a part in the value lift, Molson Coors also noted that sales from the “above-premium portfolio” overtook its “economy” stable in the US.
For the year so far, the top-line came in up 8.2% on the corresponding six months of 2021.
On a reporting region basis, the company was driven by its performance outside of North America: A "softer industry performance" in the US, coinciding with the impact of a strike at its facilities in Quebec, was offset by premiumisation benefits in Europe. Both of Molson Coors' reporting regions delivered growth at the above-premium end, however; hard seltzers were credited in the Americas, as the ending of Europe's on-premise restrictions in H1 also warranted a mention.
For the full year, the group expects sales to rise by mid-single digits.
Earlier this month, beer rival Heineken delivered a 24% top-line leap from the first six months.
Molson Coors Beverage Co's official Q2 and half-year results announcement.
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