NoLo alcohol products account for five of the ten fastest growing subcategories for Endeavour Group’s Retail business, its FY22 results show.
Reporting in its first full year as an independently listed business, Endeavour Group's Net Profit after Tax (NPAT) was $495 million, up 11.2 per cent, while sales were flat year on year at $11.6 billion.
Snapshot
- Net Profit after Tax (NPAT): $495m, up 11.2%
- Earnings Before Interest and Tax (EBIT): $924m, up 2.8%
- Group Sales: $11.6bn
The group said the backdrop of ongoing Covid impacts, severe weather events, team shortages, and supply chain disruptions was a challenging environment.
The Group EBIT increase of 2.8 per cent was driven by the partial recovery of the Hotels segment and the strong performance of Retail.
(Image: Endeavour Group)
Retail sales were $10.1 billion, marginally down on FY21 but up 19.3 per cent on FY19. FY22 figures reflect a “return to normal” after a period of elevated figures due to Covid related on-premises closures.
Growth in Spirits and Premix was a highlight, with seltzers having an impact. In the last three years, sales in these categories have grown more than 40 per cent.
Meanwhile, NoLo products made up five of the top ten fastest growing subcategories, it said.
Group achievements included acquiring five new hotels and completing 20 renewals, while in the Retail drinks network completing 81 store renewals and acquiring 32 new stores.
Dan Murphy's Voice of Customer (VOC NPS) increased two points to 79 and BWS was up three points to 74. Membership of My Dan's increased 15 per cent to more than 4.5 million people.
Major acquisitions in its Pinnacle Drinks business included Josef Chromy Wines for the Paragon Wine Estates portfolio.
The group also established a Darwin Community Advisory Committee of locally based community leaders to look at ways to reduce harm from alcohol misuse and problem gambling in the area. It partnered with DrinkWise Australia and its research on NoLo alcohol options to moderate consumption. And a 'Leading in Responsibility' team training module was rolled out to 92 per cent of staff.
In FY22 Endeavour also established its emissions baseline and starting its climate disclosures using the Task Force on Climate-related Disclosure framework. Solar panels are now installed on 104 sites.
