TURKEY: Anadolu Efes' H1 beer volumes dented as domestic crackdown bites
The group has warned over its beer performance for the rest of fiscal 2013
Anadolu Efes has reported a single-digit rise in first-half group volumes, but its beer business continues to suffer with little improvement in prospect this year.
Consolidated pro-forma group sales volumes in the six months to the end of June rose by 4.7% year-on-year, the Istanbul-headquartered group said late last week. Soft drinks accounted for 69% of its volumes, its international beer operations 22% and domestic beer sales 9%.
Total beer volumes in the six-month period fell by 16.5% to 13.1m hectolitres.
First-half beer volumes in its domestic market fell by 14%. The company flagged “higher prices and competition” as factors, while also pointing to the wide-ranging crackdown on alcohol sales which took effect in May.
International beer volumes fell by 10.4% in H1, due to “softer” sales in Russia, which has also been affected by a regulatory clampdown.
Looking ahead, Efes said it expects its domestic beer sales to fall at “high single-digits” for fiscal 2013, while the Russian market will fall at “mid single-digits”.
In the group's soft drinks business, run by Coca-Cola Icecek (CCI), of which Efes is the biggest shareholder, first-half volumes rose by 18.2% to 517m unit cases.
Volumes in Turkey were up by 5.1% to 282m unit cases, while international volumes rose by 38.8% to 253m unit cases. CCI's sales were particularly strong in Pakistan, Iraq, Iran, Kazakhstan and Azerbaijan, the group said.
The company had reported soaring Q1 sales and profits after consolidating CCI's numbers into its performance.
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