July 9 - Efes Breweries International N.V. (“EBI” or “the Company”) today announced its sales volume figures for the period ended 30.06.2008.
In the first six months of 2008 EBI’s total sales volume increased to 7.1 mhl, by growing 10.7% over the same period of previous year. Sales volume growth on an organic1 basis was 8.2% in the period. In the second quarter of 2008 sales volume growth year on year was 10.1%.
In Russia EBI’s sales volume increased to 5.6 mhl in the first half of 2008, achieving a growth of 12.0% over the comparable period of previous year. Despite the unfavorable weather conditions in the second quarter of the year and very strong base effect of previous year, our sales volume grew by 11.1% in the second quarter over the comparable period of previous year. Both our 1H and 2Q sales volume growth is above the estimated market growth rates in respective periods, impacted positively by the new launches through brand and packaging innovations.
In the first six months of 2008 EBI’s sales volume in Kazakhstan was 0.7 mhl, up by 14.6% over the comparable period of previous year. Double digit volume growth was achieved despite the strong base of 1H2007, when sales volume grew by 36.9% year-on-year. Second quarter growth in Kazakhstan was 15.2%.
The challenging economic environement in Moldova negatively impacted our sales volume in the first half of 2008. EBI’s total sales volume in Moldova was 0.4 mhl, down by 18.1% over the same period of previous year, while the beer only volume (excluding the two month sales volume of the soft drinks brands “Viva” and “Real”, which were sold to The Coca-Cola Company in February 2007) declined by 15.2% year-on-year.
EBI entered the Georgian beer market by the acquisition of the leading brewer in the market, JSC Lomisi (“Lomisi”), in February 2008 and included this operation in its financials starting from March 1st 2008. Between March-June 2008 EBI generated 0.3 mhl sales volume in Georgia.
In Serbia in the first six months of 2008, sales volume was 0.2 mhl, down by 20.4% year-on-year.
Overview of EBI
EBI, incorporated in the Netherlands and listed on the London Stock Exchange (IOB:EBID), is a 70.2% subsidiary of Anadolu Efes Biracılık ve Malt Sanayi A.Ş.
EBI has a strong presence in the countries in which it operates, across the CIS, the Balkans and Eastern Europe, including Russia. Currently EBI has an annual brewing capacity of 25.2 mhl and malt production capacity of 139,000 tonnes.