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Anadolu Efes upbeat despite H1 loss

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  • H1 net loss of TRY39.4m (US$13.2) compared to TRY216.7m profit last year
  • Net sales down 1% to TRY5.1bn
  • Operating profits (EBITDA) fall 3.1%% to TRY906m

Anadolu Efes has hailed a “satisfactory” H1 despite currency fluctuations pushing the beer and soft drinks maker into the red.

Anadolu Efes owns the Efes beer brand

Anadolu Efes owns the Efes beer brand

Second quarter sales were up slightly (1%) and, excluding Ukraine, operating profits and sales both grew in the first half, the company said. However, higher prices from an excise tax increase in January and an earlier Ramadan saw overall volumes fall by 5%.

In Turkey, beer volumes fell by 5%.

Anadolu posted H1 net losses of TRY39.4m (US$13.2) compared to TRY216.7m profit last year. Bottom line damage from a weak Turkish lira was TRY200m, Anadolu said.

Meanwhile, first half sales were down 1% to TRY5.1bn while operating profits (EBITDA) fell by 3.1% to TRY906m. 

The company said it is working to premiumise its beer portfolio and has successfully pushed through price increases. It also said “value generation” is a key part of its soft drinks strategy.

To read the company's full results, click here.


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