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RUSSIA: Beer exports boost Baltika

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Baltika Breweries, the leading Russian brewer, has reported sales and profit rises for the first nine months of 2008, lifted by a growing export business.

Revenue for the nine-month period rose by 12.8% to EUR1.99bn, with net profit up 7.7% to EUR360m, said Baltika today (7 November).

Beer volumes grew by 2.7%, as a 19% increase in exports helped to offset a slowdown on the Russian market, said the brewer, which is part of the Carlsberg-owned BBH group.

Baltika was last month named the biggest beer brand in Europe by volume in 2007, by beverage industry research and consulting group Canadean. Baltika also completed its first foreign brewery purchase this year, completing a deal for Azerbaijan's largest brewer, Baku-Castel, in August.

Poor weather and consumer price inflation has significantly hampered beer sector growth in Russia this year, and particularly in the third quarter.

Baltika estimated that the market crept up by 1% in the nine months to the end of September. It said that its own volumes were ahead of tha growth, although did not provide figures, and added that its market share has grown 0.3% to 38%. Kronenbourg 1664 and Tuborg both reported double-digit growth, led by on-trade sales.

 


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