In the fiscal year ending March 31, 2011, Plze?sk? Prazdroj reports income for sales of goods, the company’s own products and services amounting CZK 14.559 billion and profit before tax CZK 4.180 bn*. The company’s financial performance has been influenced by the increase of the excise on beer in January 2010 and continuous adverse economic conditions. Despite of that Plze?sk? Prazdroj remains a significant contributor to the Czech economy, paying CZK 4.7 bn in taxes and investing CZK 53.8 million into the communities
Revenues from main activities decreased by 5.5% to CZK 14.559 billion
Profit before tax decreased by 10.8 % to CZK 4.180 billion*
Plzensky Prazdroj remains a significant contributor to the Czech economy
CZK 4.7 bn paid in taxes is among 11 top corporate tax payers**
CZK 53.8 million investing into communities development in last 12 month***
CZK 5.9 billion of value generated for suppliers, of which 87% of sourced from the Czech Republic***
Doug Brodman, Managing Director of Plze?sk? Prazdroj, comments on the results:
“Brewing industry plays a significant role in the Czech culture and the economy. Over the last 2 years, challenging market conditions have significantly influenced the whole Czech beer market. One of key adverse influences was beer excise tax increase during the difficult economic conditions. This measure did not meet government expectations at all and adversely impacted the brewing industry’s ability to develop and invest.
These market conditions have reflected in our results for the year, however, we have continued to invest not only into our breweries and brands but also to the development of communities where we operate. We will continue to retain our focus on further development of our brands, our people’s capability and delivering the best beer experience to our consumers.”
*This result does not include any one-off, extraordinary accounting entries.
**The total tax paid includes corporate income tax, VAT, excise tax, real estate tax and road tax.
***Source: Measurement of NGO Business for Society, Standard Responsible Company
NOTE: The financial highlights included in this report are not audited due to the spin off of the European Imports business unit, which was effective as of April 1 2010.