16 August 2007 - Belvédère recorded sales of E501.6 million during the first six months of 2007, up 46.9%. The consolidation of Florida Distillers in the United States as of 1st April and of the distributors acquired in Poland last year contributed Euro 18.6 million and Euro 53.3 million, respectively, to billings for the first six months.
Pro forma sales (excluding taxes): EUR336.1 million, or +21.9%
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ACTUAL DATA (*) |
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pro forma data (**) |
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Like-for-like data (***) |
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| Non audited figures (€ million) |
H1 2006 |
H1 2007 |
r |
H1 2006 |
H1 2007 |
r |
H1 2006 |
H1 2007 |
r |
| Sales |
341.6 |
501.6 |
+46.9% |
430.0 |
501.6 |
+16.7% |
248.3 |
268.3 |
+8.1% |
| Sales excl. rights and taxes |
169.9 |
318.2 |
+87.4% |
275.7 |
336.1 |
+21.9% |
75.8 |
84.9 |
+12.0% |
| Sales excl. rights and taxes |
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|
|
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| and at constant exchange rates |
169.9 |
318.1 |
+87.3% |
275.7 |
335.2 |
+21.6% |
75.8 |
84.0 |
+10.8% |
| Volumes of produced goods sold |
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| Spirits (millions of 9-liter cases) |
5.4 |
6.7 |
+24.0% |
6.2 |
6.7 |
+8.1% |
4.2 |
4.6 |
+10.5% |
| Wine (millions of 9-liter cases) |
4.9 |
7.9 |
+60.2% |
8.7 |
7.9 |
-8.8% |
0.9 |
1.0 |
+11.6% |
| Non alcoholic (millions of 9-liter cases) |
1.4 |
2.1 |
+46.5% |
2.3 |
2.1 |
-6.5% |
- |
- |
- |
| Raw alcohol (millions of Liters) |
10.5 |
6.4 |
-38.6% |
11.5 |
6.4 |
-44.0% |
10.5 |
5.4 |
-48.5% |
| Distribution of other beverages |
- |
-4.3 |
- |
- |
4.3 |
- |
- |
- |
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(*) Consolidation of Florida Distillers as of 1st April 2007 and Marie Brizard as of 1st April 2006. (**) Consolidation of Florida Distillers and Marie Brizard as of 1st January 2006.
(***) Excluding acquisitions: Marie Brizard, Polish distributors, and Florida Distillers.
In pro forma terms, performance was up 21.9%, driven by the strong growth in spirit sales, representing growth of 8.1% in terms of volumes.
Sales Growth by Country
In France (41.4% of sales(1) 1st six months of 2007), sales of spirits, supported by the success of William Peel, Sir Pitterson, and Sobieski, grew in value by 9.5%. The wine business, with low margins, declined in sales by approximately 11%. All together, sales in France during the first six months declined by -3.4%.
In Poland (38% of sales(1) during the first six months of 2007), performance showed strong growth, with sales increasing by 107.9%. Excluding recently acquired distributors, the business showed growth from continuing operations of +16.1% as a result of gain in market share of 8% by volume.
At the end of June the group's vodka sales in Poland, by volume, had a market share of 28.5%. ( AC Nielsen)
In Lithuania (3.1% of sales(1) during the first six months of 2007), our Group consolidated its positions, with sales growth of 4.4%.
In Spain (2.7% of sales(1) in the first six months of 2007), business declined by -7.4%, because of the poor sales performance in wine during April and May.
Prospects
The dynamic growth shown in spirits during the first six months of the year should be confirmed during the second half of the year and contribute positively to our Group's results. The actual launch of sales of spirits brands in the U.S. market during the 2nd half year should add significantly to our Group's business by the end of the year.