WHAT WE’RE MADE OF
STATEMENT OF NON-FINANCIAL INFORMATION
2023
For yet another year, it’s time to look back at the most important events that marked 2023 for Mahou San Miguel. Events that speak for themselves and say a lot about us, because they are what define us and have made us what we are today: the leading beverage, services and experiences company in our country’s brewing sector, 100% family-owned, with Spanish capital and a clear international vocation.
Inside and outside Spain, 2023 has been a good year for us, one in which we have strengthened our leadership position and that of our brands. Iconic brands that are recognised and appreciated by the people who choose us every day because they trust our products, but, above all, because they trust the company behind them. A people-centric company which, throughout its nearly 135 years of history, has never stopped growing and evolving to expand its positive impact on society, while remaining faithful to its values and way of doing things. We are proud of who we are and of the path we have taken to get here.
We are part of the sixth generation of a family of entrepreneurs that in 1890 made a dream a reality: to make the best beer possible. When you look at what that dream has become with today’s eyes, you understand why this project is more alive than ever and also the sense of pride that it generates in all of us at Mahou San Miguel.
Because, regardless of the context or circumstances, we are guided by our long-term vision in everything we do. And we demonstrate, through our actions, that our decisions prioritise the common good to preserve the things that make us unique, handed down from one generation to the next: our passion for what we do and our unwavering commitment to the business and to people.
It all starts with the products we make at our eight breweries located throughout Spanish territory and the two we have in the United States, and at our four spring water bottling plants. A unique industrial footprint, not only for being the largest in the sector but also because it allows us to play a differential role in terms of adding value wherever we operate. Year after year, we invest decisively to continue contributing to the socioeconomic development of the areas where we have a presence and to guarantee that our environmental behaviour is exemplary.
This business model allows us to generate that palpable feeling of closeness and connection that leads us to continue to build solid and enduring relationships with our customers, suppliers and distributors. Thus, in 2023, we continued to promote initiatives that consolidated our position as a strategic partner for all the companies in our value chain. Because their success also means our success.
None of this would be possible without all the people, in the past and present, who form part of the big family that is Mahou San Miguel. Our team is our main asset and the engine of change that will lead us to become the company we dream of being.
A company with a soul, whose values are perfectly represented by the Mahou Foundation, which in 2023 celebrated ten years of promoting equal opportunity and the development of young talent in the on-trade sector.
I want to thank all of you who have made 2023 possible and urge you to continue writing the history of Mahou San Miguel to preserve its legacy and contribute value to society. That is what, after over a century and in the midst of a revolution that elevates the ephemeral, makes us truly different.
We demonstrate it in what we do and also in how we do it. Because at Mahou San Miguel, we are made to last.
The year 2023 was very good for Mahou San Miguel, and this is reflected in our results. In a context marked by stagnation in beer consumption, we saw our sales increase and managed to grow faster than the market.
In addition, our turnover was 1,917.3 million euros, 10% higher than the year before. All in all, and although our net profit increased compared to the previous year, it still did not reach pre-2020 levels. This is due to our conscious decision to maintain a high level of investment in the business and to not pass on to the end consumer all the cost increases still impacting us.
Guided by the responsibility to leave behind a better company and tomorrow for those who come after us, we consolidated our leadership while also accelerating our transformation, strengthening the key levers for our future growth set out in our 2022-2024 Strategic Plan, “El Valor de Cambiar”.
We achieved this by focusing our attention and resources on developing our assets, as well as on strengthening the leadership position and health of our brands, launching new propositions to the market, such as Mahou Rosé, and creating consumption experiences inside and outside the home. Mahou consolidated its position as the most valuable beer brand according to the 2023 Kantar BrandZ ranking. For yet another year, we were the most awarded Spanish beer family and broke a record in the sector by receiving 100 prizes in a single year. We led the premium segment with iconic brands like Alhambra Reserva 1925 and Solán de Cabras, the leading premium water for its iconic status, quality and commitment to sustainability.
This performance was also the result of our diversification beyond beverages and the expansion of our international footprint. We closed 2023 working to realise all our potential in Europe and developing our business in the United States under the umbrella of Mahou USA. In that country, we continued to promote craft beers, like those of Founders, with a significant presence in the market thanks to brands like All Day IPA, one of the most recognised by the American consumer. In Europe, San Miguel consolidated its position as the most international Spanish beer, closing the year as the number five brand in the World Premium Lager segment. Mahou Cinco Estrellas, for its part, continued gaining market penetration in the British on-trade sector by highlighting its iconic status, quality and flavour.
Outside the geographic context, last year we continued strengthening our business with new services and experiences that provided added value to our customers and to the company, making tangible our mission: to create moments of togetherness and connection that improve people’s lives and the planet. In this area, a key initiative was the “Overall Plan for Transformation of the On-trade Sector”, our ambitious project to evolve and strengthen the sector with a budget of 90 million euros, consolidating our position as a preferred partner for our on-trade customers. In 2023, we added new capabilities and services that boosted our value contribution and our growth in terms of the number of points of sale, such as the launch of +Bar Sport TV through our agreement with LaLiga, and a project to offer products and financial advising.
In addition, we continued advancing on our “Vamos 2030” Strategic Sustainability Plan, integrating it as the backbone of our business. Because we want the most valuable thing we have, our planet, to last a long time. We did it through a focus on our circular strategy for containers by eliminating the plastic used in 19 additional products, saving 597 tonnes of this material in 2023. Moreover, we launched a new returnable format for our iconic Alhambra Reserva 1925 bottle.
We also accelerated our transformation, thinking, above all, of people, to strengthen our leadership position as a company and become more global, more digital and innovative, more sustainable, and better prepared to face the challenges of tomorrow. To do so, we fostered a winning business culture that promotes the professional and personal development of our teams and will also make us more competitive when it comes to recruiting, retaining and developing talent. In 2023, as a matter of fact, we added 404 people to our team, closing the year with a global workforce of 4,179 employees.
Ultimately, everything we do in this company, we do with a sense of vocation and the determination to continue increasing our contribution to society so that all the good things we have last a long time. This is what sets us apart, and it represents the best guarantee that, after 130 years, we will continue to do things well, now and in the future.
2023
STATEMENT OF NON-FINANCIAL INFORMATION
For yet another year, it’s time to look back at the most important events that marked 2023 for Mahou San Miguel.
We are a family-owned, 100% Spanish and independent beverage and service company, the leader in the brewing sector in our country, and we have a strong international presence.
We have one of the most extensive beverage portfolios in Spain, made up of over 100 brands in different categories.
Through them, we address our consumers’ preferences and needs, anticipating new trends and providing options for every occasion.
At Mahou San Miguel, we always say that we put people at the centre of our strategy and our decisions. And we back up these words with actions. We firmly believe that our team is our main asset, and we dedicate time and resources to developing it and helping it grow in a working environment that encourages flexibility, work-life balance, well-being and diversity.
We hired 404 people.
Merco Talento positioned us as one of the 10 most attractive companies to work in Spain.
Our company mission marks the way we conceive of and understand the business, as well as our role in the society we are part of.
Through our activities, we have consolidated our position as an engine of socioeconomic growth in the areas where we operate.
In Spain, each year we generate:
Specifically, in 2023, our direct contribution to the Spanish economy came to 1,708.7 million euros, 11.2% higher than the year before.
Which was allocated as follows:The Mahou San Miguel Foundation is the “soul” of this company, the organisation through which we channel our social action guided by our firm commitment to promoting the value of people.
During the year, the company made donations totalling 3.4 million euros, of which 3.1 million euros went to the Mahou San Miguel Foundation to fund social projects.
At Mahou San Miguel, we want to contribute to slowing down this process by lessening the impact of our operations, reducing our environmental footprint, promoting the circularity of our packaging, and making responsible use of natural resources.
Through our “Vamos 2030” Strategic Sustainability Plan, we continued to advance towards our goal of being carbon-neutral in all our production centres by 2030, and across our entire value chain by 2040.
The most important project was the switch from plastic can yokes to cardboard ones.
We apply the principles of reduction, reuse and recycling in our products and processes.
In 2023, we successfully valorised a total of 99.1% of the waste generated
We all know that the natural resources on the planet are limited, so at Mahou San Miguel, we apply the principle of responsible consumption to our operations, attempting to reduce or limit our use of water, energy and raw materials.
As part of our commitment to sustainability, we protect the environmental richness of the communities where we operate. To do so, we invested in ecosystem conservation and regeneration projects that promote sustainable growth in biodiversity.
As part of our commitment to sustainability, we protect the environmental richness of the communities where we operate.
Thus, in 2023, we carried out environmental volunteer work and promoted forest improvement and regeneration projects together with WWF and FSC.
At Mahou San Miguel, we want to contribute to slowing down this process by lessening the impact of our operations, reducing our environmental footprint, promoting the circularity of our packaging, and making responsible use of natural resources.
Through our “Vamos 2030” Strategic Sustainability Plan, we continued to advance towards our goal of being carbon-neutral in all our production centres by 2030, and across our entire value chain by 2040.
The most important project was the switch from plastic can yokes to cardboard ones.
We apply the principles of reduction, reuse and recycling in our products and processes.
In 2023, we successfully valorised a total of 99.1% of the waste generated
We all know that the natural resources on the planet are limited, so at Mahou San Miguel, we apply the principle of responsible consumption to our operations, attempting to reduce or limit our use of water, energy and raw materials.
As part of our commitment to sustainability, we protect the environmental richness of the communities where we operate. To do so, we invested in ecosystem conservation and regeneration projects that promote sustainable growth in biodiversity.
As part of our commitment to sustainability, we protect the environmental richness of the communities where we operate.
Thus, in 2023, we carried out environmental volunteer work and promoted forest improvement and regeneration projects together with WWF and FSC.
