Volume declined in all segments, the company said, but net sales per hectoliter increased 2.4%. Worldwide brand volume of 88.9 million hectoliters was down 3.5% “primarily driven by challenging industry dynamics, particularly in the U.S. and Canada.”
In the U.S. net sales in the fourth quarter rose 4.7% while volume declined 1.7% driven by declines in the economy segment. The company premium light and above-premium portfolios improved. Sales to wholesalers rose 2.5% driven by cycling lower shipments in the prior year attributed to quarterly timing of distributor inventories, partially offset by lower brand volume. On a full-year basis, brand volume and STWs largely converged, the company said.
For the full year, the company’s net profit after tax plunged 78.4% to $241.7 million, largely because of special one-time charges related to the planned closure of Molson Coors’ Irwindale, Calif., brewery and restructuring activities. The company noted that its Underlying EBITDA eased to $1.844 billion from $1.861.4 billion.