Bralirwa Limited (Rwanda) FY21 revenue grows by 15.4% spurred by volume growth

By Published On: April 21st, 2022Categories: Corporate announcement, Earnings

Bralirwa Limited ( 2021 Abridged Report

Kigali, 31 March 2022 — Bralirwa Plc (“Bralirwa”) announces: 2021 full year highlights:

  •  Total volume increased by 9.6%:
    – Beer volume increased by 7.5 % versus last year as a result of continued re-opening of the market as COVIDx-19 measures were   relaxed. This was supported by consistent focus on Offtrade and On-Trade channels (Boutiques, Mini Markets, Supermarkets and   on  trade Restaurants).
    – Soft Drink volume increased by 17.7% versus last year also driven by continued relaxation of measures against the spread of COVID-19 coupled with the revamp of the non-alcoholic beverages route-to-consumer.
  • Revenue increased by 15.4% versus last year mainly due volume growth coupled with better mix from growth of premium products.
  • Results from operating activities increased by 57.4% compared to 2020 driven by efficiency in operations, cost saving initiatives and increase of the top line.

Managing Director Statement

“In 2021, the overall top line results increased compared to 2020 driven by volume growth for both beer and soft drinks and improved mix. Revenue management combined with a focus on cost savings initiatives as well as operational efficiencies significantly impacted positively the operating results. However, to drive sustainable performance, we continued to invest in our people, brands, capacity, sustainability and digital solutions.”

Operational Review 2021

Top line results improved driven by volume and improved mix. Revenue was 15.4% higher than last year at Rwf 123.5 billion (2020: Rwf 107 billion), mainly due to volume growth for both beer and soft drinks and better mix from growth of premium products. A continued focus on cost saving coupled with operational efficiencies resulted in an improved Gross Profit (GP) which increased by 19.5%.

Operating result increased by 57.4% to Rwf 31.2 billion (2020: Rwf 19.8 billion) mainly due to operational efficiencies and revenue increase. Profit and total comprehensive income increased by 94.6% to Rwf 17.5 billion (2020: Rwf 9 billion), due to the reasons above. This resulted in better earnings per share of Rwf 17.03 (2020:Rwf 8.75).

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