FRANCE: Belvédère sees strong first quarter on Poland boom

By | 16 May 2008

Belvédère has reported first quarter sales of EUR266.9m, up 28.9%. On a constant basis, business grew by 10.2%.

In Poland, the French group's primary market, business grew by 60.9% (18.1% on a constant basis) and accounted for 63.7% of the group's sales. The distributors acquired since April 2007 contributed EUR21m to the quarter's sales, a statement said.

"Our group's market share in vodka stayed at a satisfactory level of 26.1% in March 2008 (compared to 27% a year ago. Source: AC Nielsen), thereby showing the abilities of the brands to absorb the price increases made during the period," Belvédère said.

In France, business declined by 3.3%, still affected by wine, which is not expected to rebound until the 2nd half of 2008, the company said. This area contributed 17.3% of the group's sales.

In the US, Belvédère had sales of EUR17.6m, or 6.6% of total sales. These figures include EUR3.1m for the vinegar and kitchen wines business, sold in early April and that will be deconsolidated from and after the 2nd quarter 2008.

In Lithuania and Bulgaria, sales jumped during the quarter by 26.9% and 55.5%, respectively, to account for 5.2% and 1.3% of its business.

Looking forward the company said: "On the basis of the solid trends shown by Belvédère in its principal markets in the early part of the year, we expect sales (on the present scope of consolidation) of approximately EUR1.2 billion and EBITDA close to EUR60m for the full year 2008."

Sectors: Spirits, Wine

Companies: Belvédère

View next/previous articles

Currently reading -

FRANCE: Belvédère sees strong first quarter on Poland boom

There are currently no comments on this article

Be the first to comment on this article

Related articles

UK: Global introduces new optic size for Corky’s

Global Brand's has launched its UK vodka shot range, Corky's, in a 1.5l format for optics.

REPORT IN FOCUS - Liqueurs show versatility as trends change

Far from being comprised of rather dusty brands consumed after dinner by a declining proportion of drinkers, liqueurs are among the most versatile products on the drinks market. According to a new report from just-drinks and The IWSR, the growth of the cocktail culture in the US and now increasingly in other markets, and the increasing popularity of flavoured versions of mainstream spirits have resulted in sustained growth in this most vibrant of categories. Ben Cooper reports.

US: William Grant & Sons to distribute Stolichnaya

Stolichnaya vodka's owner, SPI Group, has signed a distribution deal in the US with William Grant & Sons.

just-drinks tagline

Not a member? Join here

Decrease font sizeDecrease font sizeDecrease font size Increase font sizeIncrease font sizeIncrease font size Comment on this article Email this to a friend Print this page