©Molson Coors Beverage Company
Molson Coors Beverage Company has reported a 6.5% increase in net sales in its full-year results, supported by investments in its capabilities and the premiumisation of its portfolio.
The company says the rise was driven by positive net pricing and a favourable sales mix – which reflected its portfolio premiumisation efforts – as well as significant investments in its capabilities.
Molson Coors reported that its net sales for the year ended 31 December 2021 increased to $10.28 billion – compared with the $9.65 billion recorded the previous year.
The company continues to make investments to increase its hard seltzer production capacity, with notable expansions in Canada and the UK.
For example, the company announced back in 2020 that it had increased production capacity for its Vizzy, Coors Seltzer and Blue Moon LightSky products by more than 400% at its Fort Worth and Milwaukee breweries to meet growing consumer demand.
Molson Coors CEO, Gavin Hattersley, said: “This year, we grew the top-line for the first time in a decade, our two biggest brands each grew net sales and we now have a larger global above premium portfolio than ever before. These were all goals of the revitalisation plan, against which we continue to make tremendous progress. While we’re proud of the steps we’ve taken, we’re even more excited about where we can go from here, having established a strong foundation for 2022 successes and beyond.”
© FoodBev Media Ltd 2022
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