SWEDEN: BBH shrugs off share losses in Russia, Ukraine
Baltic Beverages Holding has insisted it has made "very good progress" during the first half of the year despite losing market share in Russia and the Ukraine.
BBH, a joint venture between brewing giants Carlsberg and Scottish & Newcastle, has today (2 August) posted a 27% leap in EBITDA to EUR273m (US$350m) in the six months to the end of June. Net sales rose in the period by 18% to EUR961m.
BBH saw sales in Russia rise over 4% in a market that grew by over 6%. As such, the Baltika brewer saw its share of the Russian beer market slip on the corresponding period last year, standing at 35.6%. Baltika said that it had "conceded" share in Russia's discounted segments as rival brewers sought volumes with the launch of PET packaging.
In the Ukraine, BBH volumes leapt 12.4% but total beer consumption in the country rose 15.5%. The brewer said its share of the Ukrainian beer market stood at just under 18% and its recent decision to begin brewing Baltika locally would "strengthen the brand's position as the undisputed leader of the licensed segment in the Ukrainian market".
BBH said that it had gained 1% of the combined Baltic beer markets, while it outperformed a booming Kazakhstan beer market with volumes soaring 39.5%.
Meanwhile, BBH said that its president, Christian Ramm-Schmidt, is retiring after nine years in the job.
BBH chairman John Nicolson said: "Christian has been instrumental in the development of the BBH Group starting from practically nothing to what it is today. On behalf of S&N and Carlsberg, I would like to thank Christian for the immense contribution he has made to the business and wish him all the very best for the future."
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