- Final-quarter sales increase 3.8% to US$2.63bn
- 2022 finishes up 7% at $10.7bn
- Target set for this year of “low single-digit” lift in sales
Molson Coors Beverage Co closed out 2022 with a near-4% rise in fourth-quarter sales, with a similar growth rate forecast for the current year.
Almost four months after estimating a mid single-digit lift in sales for the full year, the multi-category group this week reported a top-line increase in the 12 months to the end of December of 7%. Molson Coors credited a combination of its premiumisation strategy and price rises for the Q4 and 12-month performances.
Of the company's flagship brands, Coors Light and Miller Lite both upped their volume share in the US during the final quarter, while Carling retained the "number one beer brand" position in the UK. Elsewhere, among the successes highlighted from its 'above-premium' stable was Topo Chico hard seltzer. The Coca-Cola Co-owned soft drinks brand, whose alcoholic extensions are handled in the US by Molson Coors, was the fourth-largest hard seltzer in the US last year.
The group confirmed September's announcement that a further alcoholic Topo Chico will launch this year in the US, with a spirits-based RTD coming soon.
Despite the broader sales increases, the company noted a "softer industry performance" in its 'Americas' reporting region, where Q4 brand volumes fell by 6.6%, resulting in flat sales. The 'EMEA & APAC' region, meanwhile, benefited from softer comparables a year earlier, as the on-premise channel was impacted by pandemic-related restrictions towards the end of 2021.
Molson Coors Beverage Co's official Q4 & FY results announcement.
Company presentation on recent performance.
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