This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Molson Coors Reports Higher Net Sales And Lower Underlying After-Tax Income For The Fourth Quarter 2012

Stocks in this article: TAP TPX

Central Europe sales volume decreased 5 percent driven almost exclusively by the inventory destocking and a focus on maintaining price growth in all markets. Overall regional market share declined slightly in the fourth quarter as the company decided not to participate in the low-margin value segment in Romania and maintained margins in Hungary.

Net sales per hectoliter increased 2 percent in local currency due to strong revenue management driving positive net pricing, along with value-enhancing innovations.

COGS per hectoliter increased nearly 4 percent in local currency, driven by input cost inflation, particularly grains.

MG&A expenses decreased approximately 1 percent in local currency, due to ongoing focus on overhead cost management.

United Kingdom Business

U.K. underlying pretax income decreased 35.1 percent to $22.6 million in the quarter, due to lower volume and higher input inflation and pension expense, partly offset by positive brand and channel mix, the benefit of cost saving initiatives and lower marketing expense. These results reflect no significant impact from foreign currency movements.

U.K. STRs decreased 19 percent due to a weak U.K. market, a strong fourth quarter performance in 2011 and cycling the 53 rd week in 2011. Excluding the 165,000 hectoliter impact of the 53 rd week, STRs declined approximately 14 percent.

Net sales per hectoliter increased 14 percent in local currency, driven by favorable brand mix, higher on-premise pricing, and mix shift toward factored (non-owned) products, partially offset by lower off-premise pricing.

COGS per hectoliter increased nearly 22 percent in local currency, driven by brand mix, input inflation, fixed-cost deleverage from lower volumes, and mix shift toward factored products, partially offset by cost savings initiatives.

MG&A expenses decreased 16 percent in local currency, due to cost saving initiatives and cycling higher marketing expense and the 53 rd week in the fourth quarter of 2011.

International Business (4)

The International segment posted underlying pretax income of $0.3 million in the fourth quarter, up from a $7.5 million loss a year ago due to improved performance in Japan, the inclusion of Central Europe global export and license business results, overhead cost reductions, and the elimination of losses in our China joint venture, which was deconsolidated in the third quarter. The Central Europe global export and license business contributed underlying pretax income of $2.7 million in the fourth quarter.

4 of 7

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs