Backus is the leading company in the Peruvian beer market. It has 5 decentralized beer production plants located in Lima (Ate), Arequipa, Cusco, Motupe, and Pucallpa in addition to a malting plant and a mineral water plant. The company's main purpose is to engage in the production, bottling, sale, distribution, and all kinds of negotiations related to malted beverages and malts, soft drinks, and carbonated water.
Total sales amounted to 3,383 million hectoliters in the third quarter of 2021, 876 million hectoliters higher than in the same period of 2020, representing an increase of 34.9% mainly due to the partial shutdown of distribution centers as a result of COVID 19. As a result, gross revenues in the period July to September 2021 totaled S/ 1,240.2 million, an increase of S/ 395.0 million compared to the same period of the previous year. This represented an increase of 46.7%.
Costs increased from S/ 316.3 million to S/ 436.2 million from 2020 to the same period in 2021, which is equivalent to an increase of 37.9%.
In addition, gross profit amounted to S/ 804.0 million in the third quarter of 2021, higher by S/ 275.2 million than in the same period of 2020, which is equivalent to an increase of 52.0%.
Net income in the period from July to September 2021 increased by S/ 443.5 million compared to S/ 231.5 million reported in the same period of the previous year.; this increase is mainly due to the improvement in sales volume. Net income for this period represents 35.8% of gross income.
The company also made investments equivalent to S/. 268.6 million, aimed at maintaining its production and marketing capacity.
Current liquidity (Current Assets / Current Liabilities) went from 0.93 to 0.70 in the period December 2020 to September 2021. This variation is mainly explained by an increase in other accounts payable and declaration of dividends.
Regarding COVID 19, the Company reported: "The necessary protocols have been developed and the facilities have been adapted in all operations to ensure a safe return of workers, respecting social distancing and all the indications and measures dictated by the Government. Despite the adversity, we have been supporting the country by being part of the solution through various initiatives, affirming our commitment to the economic reactivation of Peru and to the maintenance of our operations for the benefit of our collaborators, suppliers, and our entire value chain."
