Beam Inc. Posts Strong Results For 2012February 1, 2013
Beam Inc. has reported a full-year net sales increase of nearly 7% for 2012, to $2.5 billion. Operating income for the year jumped 46% to $575.9 million, while net profits totaled $398.2 million. For the recently completed fourth quarter, Beam’s net sales rose 11% to $709.1 million, due mainly to growth generated by its thriving Bourbon portfolio and recently acquired Pinnacle vodka franchise.
2012’s robust results were driven by flagship brand Jim Beam, which posted a 10% net sales increase, as well as portfoliomates Maker’s Mark, Knob Creek and Basil Hayden, up 15%, 24% and 35%, respectively. Sauza Tequila (+10%), Courvoisier (+12%) and Laphroaig (+15%) also posted double-digit growth, while the Pinnacle and Skinnygirl ranges both surged 19%.
“We’re particularly pleased that we outperformed in 2012 (with profitability rising sharply) even as we increased investment,” said Beam president and CEO Matt Shattock, citing significant increases in brand-building expenditures and production of aged spirits. “We believe our investments and stronger balance sheet enhance Beam’s prospects to deliver sustainable, profitable long-term growth.”