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TURKEY: Efes Breweries International beer volumes rise 2008

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Efes Breweries International has reported a 6% rise in beer sales by volume during 2008, but warned of significant slowdowns across its markets in the fourth quarter.

Volumes rose by 5.8% to 14m hectolitres for the year, but slipped by 0.5% in the fourth quarter, compared to the same period last year, Efes said yesterday (19 January).

The brewer said beer volumes in Russia rose 6.8% for the 12 months, outperforming a number of its competitors, including SABMiller and Carlsberg.

Efes echoed other international brewers in sounding the alarm bell over a "sharp economic slowdown" in key markets, however.

It said that Russia, which accounts for 78% of Efes volume sales, saw a beer market decline of 5% in the fourth quarter, due to falling consumer confidence.

Beer sales growth in neighbouring Kazakhstan also "slowed down significantly", Efes said. It reported growth there of 4.6% for the year, compared to a rise of 46% in 2007.

Moldova remained tough, with sales volumes down by nearly 28%, the group added. Efes Breweries International is majority-owned by Turkey-based beverage giant Andalou Efes.  

 


Sectors: Beer & cider

Companies: SABMiller, Carlsberg

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