b'Managing Director & Chairmans ReportCOOPERS ANNUAL REPORT 2023MANAGING DIRECTOR & CHAIRMANS REPORTIn a challenging market and subdued economicincreasing at a rate faster than seen in the last environment, Coopers Brewery delivered atwo decades. This is in addition to higher costs steadfast sales and profit result for the 2023of production and intense competition for retail financial year. shelf space as well as for tap points in venues. Coopers total beer sales, excluding non-alcoholicA decline in packaged beer sales of 5.2% for the beers, reached 77.6 million litres, down from 79.4year, in line with depressed retail sales nationally, million litres the previous year. was not offset by the improved keg sales. The national beer market, as reflected in industryCoopers overall beer sales performance varied data, was flat for the year, with strong keg salesacross jurisdictions.compensating for falling pack sales. South Australia 0.0% Coopers Australian volume declined 2.1% for the New South Wales down 1.2% year, but with our performance stronger than the Queensland down 2.1% market in the latter half of the year. National sales Victoria down 4.0% volume in Australia was down 2.0% in the last six Western Australia down 5.0% months of the year, but Coopers declined only 0.1%.Northern Territory down 7.9% Overseas (including New Zealand) down 10.1%A highlight of the year was the return of pub and venue patronage following the industry lowsNew and seasonal products were successfully experienced during the pandemic shutdowns, withreleased including Vintage 2022, Sparkling Ale Coopers increasing 26.1% in keg sales in advancein a 440ml can, Genuine Draught, and the mid-of the market. strength Dry 3.5.However, as with other breweries across theCoopers maintains its strong position within nation, Coopers continues to face a marketthe mid-strength, low and non-alcohol beer influenced by increasing cost of living pressures,category, which now represents almost one-third and excessive taxes on beer which have beenof the total market, reflecting the increasing trend towards moderation among drinkers.6'