AMBITION

We want the world to enjoy our beers, we want to offer our customers good malts and we want to offer our consumers the right beer at the right time. That was and remains our ambition. Despite the challenges in the availability of materials and rising energy and raw material prices, proactive cost management we managed to present good figures. By actively managing the working capital, we have been able to make many investments. For example, we invested in the Intelligent Brewery, the emission-free malting plant, a new brewery in Cuba and on-trade locations in Belgium. Swinkels Family Brewers is financially sound and we will continue to work unabated on our ambition; to pass on an even more beautiful family business to future generations.

Results 2022

Turnover 2022

€ 1,032.4

million

Turnover 2021

€ 835.5

million
  • Results per division
    Results per division
  • Results per division

    Swinkels Family Brewers
    The beer division includes all breweries in the Netherlands and Belgium and sales from these breweries. Important sales channels for this division are supermarkets, web shops and on-trade locations in Western Europe and exports to customers and distributors in the rest of the world. Major suppliers are energy companies and all suppliers of raw and packaging materials.

    The beer division grew in turnover last year due to a stronger focus on our key brands and growing sales across all sales channels. Due to the high price inflation in several markets, we’ve noticed consumers making more informed choices. Our strength lies in an extensive beer portfolio that allows us to offer consumers a suitable beer for each and every occasion.

    In the Middle East and Africa, we showed growth in exports due to an increasing demand for our 0.0% and malt products.

    Results in the Netherlands and Belgium were still under pressure at the beginning of the year due to the COVID-19 pandemic, but recovered well. We invested in on-trade locations, particularly through the acquisition of 94 on-trade locations in Belgium.

    Supermarket turnover was also up compared to the previous year. In Western Europe, we offer our beer via more and more sales channels. As a result, consumers can increasingly find our beer not only in supermarkets, but also order it via web shops and in the on-trade sector.

    Holland Malt
    The malting division includes a malting plant in Eemshaven in Groningen and a malting plant in Lieshout. Holland Malt purchases high quality malting barley from farmers(cooperatives) and exports the malt produced to breweries and distilleries around the world.

    Holland Malt boasts great figures as a result of volume growth and price development in the market. The malting plant is taking a big step in its energy transition by converting to an emission-free malting plant at Eemshaven in Groningen, to be completed in 2024. A more energy-efficient production scores points from the viewpoint of sustainability, but also given rising energy costs. The first major customers have joined this project, causing this investment to also contribute to making the chain of involved customers more sustainable.

    Habesha
    Together with local shareholders, we brew the beers Habesha, Kidame, Feta and malt beverage Negus in Ethiopia. Habesha purchases premium ingredients, such as malting barley and malt, from local farmers and malting plants. Habesha sells its beers to local distributors and dealers.

    Habesha developed well in a relatively challenging year in which calm slowly returned to the country. The end of the COVID-19 pandemic was in sight and, in addition, a peace agreement was reached in Ethiopia on the ongoing political conflict.

    The portfolio of our Ethiopian brewery was expanded with the bitter beer Feta and with Habesha draught beer, which is well liked by consumers. As a result, volumes are increasing. With a positive outlook, we look forward to more stability in both politics and the economy.

    Cuba
    In 2022, investments were made to build a brewery in Cuba. It will be operational in the second half of 2023. We are proud of setting up a completely new operation and we are confident that this new business will be successful.

  • Changes in the organisation
    Changes in the organisation
  • Changes in the organisation

    In 2022, there were two major changes in the organisation:

    Intelligent Brewery is a digital transformation programme aimed at creating a harmonised digital platform, with uniform data collection, better information and analysis skills, and workflow optimisation. In 2022, the first phase of this programme was implemented accounting for an investment of EUR 24.5 million. We will continue to invest in the coming years by implementing the following phases. 

    Our logistics activities for the on-trade sector were outsourced to logistics service provider Nabuurs. In Nabuurs, we have found a logistics partner that is future-proof and can relieve us of concerns about complexity and environmental legislation. Colleagues working in on-trade logistics received the offer to transfer to Nabuurs as well.

  • Liquidity
    Liquidity
  • Liquidity

    In 2022, we again paid close attention to our working capital. We collected outstanding amounts from customers on time and made new payment arrangements with suppliers. Moreover, we further expanded our supplier finance programmes with selected suppliers. At Holland Malt, we have included more customers in our receivables finance programme. As a result of the focus on working capital, we were able to invest heavily in 2022. Thanks to these investments, the liquidity ratio is 0.89 (2021: 0.92).

  • Cash flow
    Cash flow
  • Cash flow

    The net cash flow of the company was positive (EUR 1.4 million). Incoming cash flows from operating activities (EUR 78.2 million) and financing activities (EUR 59.4 million) were used for investments (EUR 136.2 million).

    The positive cash flow for 2022 was mainly the result of three developments:

    • Incoming cash flow from operating activities was lower than the previous year due to a lower change in working capital and higher income taxes paid.
    • Cash outflow from investing activities was higher than in 2021 due to investments such as the 94 on-trade locations in Belgium, the new brewery in Cuba, the zero-emission malting plant and the Intelligent Brewery.
    • Incoming cash flow from financing activities was higher than the prior year due to higher drawings on our ongoing revolving credit facility.
  • Taxes
    Taxes
  • Taxes

    As a family business, we feel a social responsibility to contribute our fair share to society through taxation. We strive for a transparent relationship with the tax authorities at home and abroad.

    All internal transfer prices of Swinkels Family Brewers are at arm’s length and adequately documented on the basis of the transfer pricing principles established by the OECD*. In addition, we endorse, among other things, the OECD’s Base Erosion and Profit Shifting (BEPS) programme. Swinkels Family Brewers is committed to paying the right amount of taxes at the right place and the right time. The tax policy can also be found on our website: Policy Tax

    The applicable weighted average tax rate is 27.6% (2021: 25.9%), whereby the weighted average tax rate has been calculated based on results before taxes in the various tax jurisdictions. The tax charge in the profit and loss account for 2022 amounts to EUR 17.236 thousand, or 30.1% of the result before taxes (2021: 26.1%).

    * Organisation for Economic Cooperation and Development. 

    In 2022, we paid EUR 11.9 million in corporation tax, EUR 152.2 million in excise duties and EUR 83.3 million in other taxes.

    Other taxes amount to EUR 41.8 million from VAT, EUR 39.4 million from payroll taxes and social security charges and EUR 2.1 million from other taxes.

  • Grants
    Grants
  • Grants

    In fiscal year 2022, Swinkels Family Brewers received EUR 4.0 million in grants from the Dutch government. The largest grant received was the DEI (Demonstration Energy and Climate Innovation) grant. Our malting company Holland Malt received this DEI grant for the investments in the emission-free malting plant in Eemshaven. Partially thanks to these grants, we have been able to make a positive contribution to Dutch sustainability investments.

Results by region

Turnover distribution across the world in 2022
Figure: Turnover distribution across the world in 2022

Project stories

Several projects and investments contribute to the growth achieved in 2022. Read more about some of these projects here.
  • icon
    Project story
    Intelligent Brewery up and running
  • Project story

    Intelligent Brewery up and running

    icon
    Review of preparation year and exciting weekend

    A feat that touches everyone. That’s how Rick van de Mortel and Maurice Rijnen referred to the Intelligent Brewery programme that went live in late October 2022. The “switch” flipped for the Lieshout brewery, the Dutch Business Units, Private Label, CereX, Export and the holding company. Together with these two leaders of the IB programme, we look back on the year of preparation and the weekend of going live.

    The ambition of the Intelligent Brewery is to simplify, standardise, harmonise and centralise all processes. Whether it is the brewery in Steenhuffel or Bodegraven, the purchasing process, the personnel administration in Ethiopia or the Netherlands or the malting plant in Eemshaven or Lieshout. Within now and two years, everyone at Swinkels Family Brewers will be working on the same new platforms, with cleaned and up-to-date data and according to standardised processes. A mega operation. We want to move to an intelligent company in order to continue to grow and improve.

    The big switch

    The Intelligent Brewery programme has been running for several years. Not surprising, because it affects everything and everyone. While 2021 was the year of creation, 2022 was all about testing new processes and the switchover in the last weekend of October. After preparatory work, such as describing new processes, cleaning up data and setting up platforms for HR (SuccessFactors) and product specifications (Opcenter), the end of October saw the introduction of the SAP S/4HANA and MES platforms. In the months leading up to going live, three hundred people worked extremely hard. Maurice, head of IT, on the weekend of going live: ‘On Friday, we “switched off” the brewery and business in Lieshout. On Saturday all the new platforms were set up, on Sunday the first customer order was loaded and on Monday the first production lines started running.’ This may sound pretty relaxed, but these were exciting days. Maurice: ‘Of course we prepared everything, but on that October weekend everything came together.’

    Back to business as usual

    The days and weeks after going live became increasingly normal, although some processes still required additional support in these first few months. Moreover, there were improvements to be made. Rick, head of Supply Chain: ‘We managed to get most of the basic processes up and running quickly. Examples are producing beer and delivering it to customers. That’s a big compliment to all the people who worked so hard on this.’ Maurice adds: ‘Now we have to first solve the problems we are still experiencing in certain areas as soon as possible. Only then can we continue rolling out the Intelligent Brewery in the rest of the company.’

    Foundation for greater intelligence

    We expect to see the benefits of the Intelligent Brewery soon. Maurice: ‘For example, the new procurement process allows us to have better control over our procurement costs and thus also save costs.’ In addition, a foundation has been laid for future improvements. Rick: ‘By making smarter use of data, we hope to be more effective in selling our beer and thus grow faster. In addition, thanks to SAP’s transport management module, we will soon be able to plan and organise our internal and external transport much better.’

  • icon
    Project story
    New head office for Habesha
  • Project story

    New head office for Habesha

    icon
    Ready for big and bold dreams

    On 13 April 2022, we celebrated the grand opening of the new head office for Habesha in Addis Ababa, Ethiopia. CEO Omo Ohiwerei welcomed Habesha’s board of directors, Mesfine Abi, Peer and Stijn Swinkels, Eskinder Desta, Peter Linssen and Harold van Litsenburg, representatives of shareholders, customers, partners and loved ones. Omo: ‘Our new office symbolises big and bold dreams for Habesha.’

    Habesha’s old head office suffered from quality problems. In addition, the office did not reflect the brewery’s vision. Sufficient cause for a new home. Omo: ‘Since April, we again have an office to be proud of: completely in Habesha’s corporate style and a calling card towards future employees.’ The office building has seven floors with several meeting rooms, training rooms, open work areas, phone booths, a self-service kitchen, parking and its own store.
    In short, Habesha is ready for the future.

  • icon
    Project story
    Mind-blowing beers from brewery De Molen
  • Project story

    Mind-blowing beers from brewery De Molen

    icon

    Brewery De Molen’s craft beers have been all the rage among beer lovers since 2004. The exceptional beers opened up the craft market and inspired several other brands. Yet growth stagnated; too few consumers (re)acquainted themselves with the beers. De Molen sought a new balance between powerful flavours, clear messages and mind-blowing familiar and new beers.

    The beer enthusiasts at brewery De Molen mostly brew what they personally like. ‘If one of us tasted a beautiful beer on vacation, we would immediately start “imitating” that taste sensation upon our return to Bodegraven. That strategy worked and won us awards and fans. Now it is time to introduce a larger group of people to our beers,’ says Sales Manager Christiaan Peijnenburg.

    Mind-blowing

    For this reason, the positioning of brewery De Molen was further defined. Global Marketing Manager Craft, Coen Dekker: ‘We want a clear story and clear look. De Molen still stands for mind-blowing beers. We operate two lines: eleven “fixed” beers that are always in production (white labels with black letters) and a changing selection of specials (black labels with white letters). One bright spot colour per beer now makes it easier for customers to remember their favourite.’

    Creativity

    In addition, the outlandish names of the specials (such as Horten & Stoten, Hel & Verdoemenis) were replaced with names that reveal the flavour. Such as Miso & Karamel or Bitterkoek & Sinaas (Macaroon & Orange). Christian: ‘Clarity about flavour combinations entices beer lovers to try something new.’

    As brewing innovative beers is what is most important to brewery De Molen. Coen: ‘The road to supermarkets or department stores is now open. However, the creativity remains!’ Apparently so, because not long after the rebranding, a new special was announced; flavoured with Babi Pangang.

  • icon
    Project story
    Uiltje Fresh Nest – an Uiltje experience at Dutch festivals
  • Project story

    Uiltje Fresh Nest – an Uiltje experience at Dutch festivals

    In 2022, we were able to let go of the COVID-19 measures more and more, and it was again possible to organise and attend festivals. A great opportunity for Uiltje Brewing Company to tour the Dutch festivals with a festival activation. Uiltje Fresh Nest saw the light of day. A modular village made from rejected shipping containers, where we can introduce festival visitors to the world of Uiltje.

    The Uiltje Fresh Nest featured at the Solar Weekend Festival and Elektrum Festival this year, among others. In 2023, we will continue this trend and have the Uiltje Fresh Nest nestle in several festivals.

  • icon
    Project story
    Rodenbach, La Trappe and Habesha crossing the ocean
  • Project story

    Rodenbach, La Trappe and Habesha crossing the ocean

    icon

    ‘I’m very excited to announce our new partnership with Swinkels Family Brewers,’ said CEO Laura Day on 3 August 2022. On this day, she announced that Better Beverage Leaders (BBL) will add a selection of our beer brands to its portfolio from September 2022 onwards. Laura wasn’t the only one who was excited, we too are very proud to be enriching the beer experience for Americans with Rodenbach, La Trappe and Habesha.

    BBL is the U.S. importer of Delirium Beers and other Belgian beer brands of brewery L. Huyghe. This family-owned brewery has been situated in Melle, just outside Ghent, since 1654. The fourth generation is currently stirring the hop boilers under the leadership of Alain de Laet. As an independent family brewer we are obviously a perfect match for this heritage. However, the main reason for crossing the ocean, according to BBL, is the “world-class quality” of Rodenbach, La Trappe and Habesha.

    David Van Wees, North American President of Swinkels Family Brewers: ‘We have great confidence in our new partnership. Our international logistics combined with BBL’s existing portfolio and their commitment to our brands will undoubtedly lead to growth.’

  • icon
    Project story
    Spotlight on 500 beers and craft beverages
  • Project story

    Spotlight on 500 beers and craft beverages

    icon
    Daretodrinkdifferent.nl new platform for specialty beer

    In late January 2022, we introduced a new specialty beer platform: Dare to Drink Different (DtDD). Thanks to the expansions of our family business in recent years, our portfolio has grown considerably. This allows us to offer on-trade entrepreneurs and consumers multiple specialty beers for every beer need and season. We highlight the total portfolio of 500 different beers and craft beverages on our new platform.

    Romke Swinkels, Director Swinkels Family Brewers Netherlands: ‘As Swinkels Family Brewers, we want to be known as the expert in specialty beer, non-alcoholic beer and other craft beverages. We’ve seen beer drinkers become increasingly curious about new specialty beers for years. Through Dare to Drink Different, supply and demand have come together perfectly since January for both consumers and on-trade entrepreneurs. The new platform should become a household name for anyone who wants to be continually surprised by new flavours and specialty beers.’

    Surprise

    Daretodrinkdifferent.nl is more than a regular web shop. The platform aims to entice beer consumers to try new specialty beers. Through a taste test, consumers can get recommendations based on their personal preferences.
    In addition to consumers, DtDD also wants to familiarise on-trade entrepreneurs with the world of specialty beer.
    For example, with a new, appropriate recommendation of ten to twenty surprising specialty beers and other craft beverages each season.

    Romke: ‘On-trade entrepreneurs can order beverages in cans, bottles or kegs through their own supplier. We also offer an ever changing tap line-up programme, where entrepreneurs can serve different DtDD beers in their on-trade establishments.’

    From craft to kombucha

    Dare to Drink Different spotlights 500 different beers and craft beverages. In addition, the platform focuses on
    non-alcoholic beer, craft sodas, hard seltzers and kombuchas. Daretodrinkdifferent.nl also offers tasting tips and information on beer styles and breweries. The Dare to Drink Different brand is visible through ever changing tap
    line-ups of speciality beers in the on-trade sector, specialty beer displays in supermarkets and specialty beer areas at events.

  • icon
    Project story
    Cuban brewery is slowly taking shape
  • Project story

    Cuban brewery is slowly taking shape

    icon

    In 2022, we invested in building a local brewery in Cuba called Cervecería Cubana. Building this brewery is part of Swinkels Family Brewers’ long-term strategy. With this we meet the international growth strategy, further expanding the number of home markets.

    It is expected that by mid-2023 the first Cuban beer will be served. To this end, a large part of the team has already been hired and is currently in training.

    Parranda

    In collaboration with Cuban designers, we developed a beer brand following a local competition: Parranda. The term Parranda is very familiar to a large part of the Cuban population. In fact, La Parranda del Remedio is a local festival. It involves two teams, symbolised by the rooster and the hawk, coming together in the town square to enjoy music, dancing and fireworks. Hence the slogan “Unidos por la cerveza”, which literally means “united through beer”. This will feature on our bottles. The rooster and the hawk are symbolised in the logo. La Parranda del Remedio is not only Cuban cultural heritage, UNESCO also recognised it as cultural heritage in 2018.

    Just as Swinkels Family Brewers did in Ethiopia with Habesha, we will also develop initiatives in Cuba through which we want to express our local involvement.

Product introductions and innovations


Based on the wish to offer a suitable beer for every occasion and at every location, we will continue to further expand our beer portfolio. In 2022, we introduced these new products to the market and implemented the following (product) innovations.
icon
Product introduction

Bavaria Malt Apple and Pomegranate

Malt soft drink. Introduced to Palestine.

icon
Product innovation

Bavaria Malt Comrades

Bavaria (NL)
Malt soft drink. Introduced to
10 countries in Africa.

icon
Product introduction

Rodenbach shrimp croquette

Introduced to Belgium.

icon
Product innovation

Fruitage by Rodenbach - redesign

Rodenbach (BE)
Fruit beer. Introduced to
the Netherlands.

icon
Product introduction

Cornet cheese croquette

Introduced to Belgium.

icon
Product innovation

Rodenbach Vintage 2020

Rodenbach (BE)
Sour beer. Introduced to Belgium and the Netherlands.

icon
Product introduction

Feta Beer

Habesha
Bitter beer. Introduced to
Ethiopia.

icon
Product innovation

8.6 Intense Music Festival

Bavaria (NL)
Strong lager. Introduced to
12 countries.

icon
Product introduction

De Molen Fruit&Kruid

De Molen
Blond. Introduced to
the Netherlands.

icon
Product innovation

8.6 Intense Tattoo

Bavaria (NL)
Strong lager. Introduced to
12 countries.

icon
Product introduction

De Molen Babi&Pangang

De Molen
Barley wine special. Temporarily introduced to the Netherlands.

icon
Product innovation

8.6 Intense Urban Art

Bavaria (NL)
Strong lager. Introduced to
12 countries.

icon
Product introduction

De Molen Bok&Poot

De Molen
Bock. Introduced to
the Netherlands.

icon
Product innovation

8.6 Red pack

Bavaria (NL)
Strong lager. Introduced to France.

icon
Product introduction

Bavaria 0.0% Fruity Ginger Lime

Bavaria (NL)
0.0% beer. Introduced to
the Netherlands.

icon
Product innovation

Dr. Raptor

Uiltje Brewing Company (NL)
Double IPA. Introduced to
the Netherlands.

icon
Product introduction

Uiltje Wit

Uiltje Brewing Company (NL)
White beer. Introduced on tap, from 2023 also in cans.

icon
Product introduction

8.6 Breaking lab

Bavaria (NL)
Strong lager. Introduced to France.

Click here to load more product introductions from 2022.