ROMANIA: Local beer market leader triped profit in 2016 | Progresiv
Ursus Breweries, the largest player on the local beer market, reported last year a profit of 144 million lei (32 million euros at a rate of 1 euro = 4.49), up by 227% compared to 2015, when the producer reported a result of 44 million lei, according to the latest data published by the Ministry of Finance. 
In terms of turnover, the manufacturer ended financial year 2016 with a net turnover of 1.63 billion lei (363 million euros), marking an advance of approximately 3% compared to 2015.
The performance of Ursus Breweries’ business comes as beer consumption on the local market stood at 15.8 million hectoliters last year, with per capita consumption of 80 liters.
Regarding investments, the producer allocated last year 7 million euros in the refurbishment of the three production units it has in Timisoara, Buzau and Brasov.
At the end of March, Ursus Breweries officially became part of Asahi Japanese group, which completed the acquisition of SABMiller's former business operations and trademarks in Central and Eastern Europe, which includes businesses in the Czech Republic, Slovakia, Poland, Hungary and Romania. Thus, 2016 was practically the last year when Ursus Breweries activated under the giant SABMiller umbrella. Ursus Breweries owns brands such as Ursus, Timisoreana, Ciucas, Grolsch, Peroni or Redd's.
