News

RUSSIA: Exports continue to drive Baltika in H1

Most popular

Is Conor McGregor a threat to Pernod? - Analysis

Pernod is buying Malfy for the flavour - comment

Big beer versus craft beer - Is the fight over?

Connecting with Generation Z - FUTURES

Is Carlsberg treating consumers like suckers

MORE

Baltika has posted a healthy lift in operating profit for the first half of this year.

The Russian brewer, which is owned by Carlsberg and Scottish & Newcastle's Eastern European joint venture Baltic Beverages Holding, said earlier this week that operating profit for the six-month period leapt by 39.5% year-on-year to EUR256.1m (US$350.3m).

The impressive rise came on the back of increasing sales, up 35.9% in the period to EUR1.06bn. Beer volumes were also up, by 29.6% to 21.8m hectolitres.

"Defying the unfavorable trends of rising input and distribution costs in H1 2007, the company achieved strong financial results due to positive impact of operational leverage, performance of power brands and portfolio mix and final $20m synergy effects from the merger," said Baltika's president Anton Artemiev. "In H1 2007 the company strengthened its leadership on the Russian beer market and widened its operations worldwide."

The company was particularly pleased with its performance abroad in the period, with Switzerland, North Korea and Mexico taking deliveried for the first time, and Mongolia resuming deliveries. Export sales in the half grew by 15%, reaching 0.9m hectolitres.

In April, Scottish & Newcastle signed a license agreement to brew Baltika No.3 Classicheskoye in the UK.

Moving forward, Baltika said it expects market growth to slow in the second half to between 11% and 13%. "In the medium term we keep our market growth estimates of 3-5%," the company said.


Related Content

How did Pernod Ricard perform in H1 fiscal-2019? - results data

How did Pernod Ricard perform in H1 fiscal-2019? - results data...

Carlsberg delivers H1 2017 jump but Russia challenges remain - results

Carlsberg delivers H1 2017 jump but Russia challenges remain - results...

Heineken volumes accelerate to drive H1 2017 sales - results

Heineken volumes accelerate to drive H1 2017 sales - results...

How did Carlsberg perform in the first half of 2018? - results data

How did Carlsberg perform in the first half of 2018? - results data...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?