Brewery Duvel Moortgat set record results in 2016: its turnover exceeded 400 million euro for the first time. Since it left the stock exchange in 2013, the company’s turnover and profit more than doubled.
1.8 million hectoliter
Duvel Moortgat’s total turnover grew more than 27 % in its past fiscal year, from 316 million euro to 401.4 million euro. It achieved both internal and external growth, thanks to several acquisitions (Brouwerij ‘t IJ – Amsterdam; Firestone Walker Brewing Company – California). Both breweries contributed their turnover to the brewer’s financial results for the first time.
Its EBITDA grew from 97 million to 118.6 million euro and its net profit reached 53.6 million euro. All of Duvel Moortgat’s breweries combined manufactured 1.8 million hectoliters of beer in 2016. The United States (0.7 million hectoliters) is its prime market, Belgium ranks second (with 0.5 milion hectoliters).
The company’s results over the past few years are a clear indication that the Moortgat family made the right decision in 2013 to pull out of the stock exchange. Ever since, its turnover and EBITDA more than doubled. The company went public in 1999 and its share grew 186 % in the next few years, but the family decided to take back full control in 2013.
