2007 05 09bbh download

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Published on October 26, 2007

Author: Carlton

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Baltic Beverages Holding Q107 Results 9 May 2007 :  Baltic Beverages Holding Q107 Results 9 May 2007 Summary:  Summary BBH Group Russia Other markets Outlook Slide3:  BBH Group Highlights Group beer volumes 10.1 mhl, +38.2% Net sales growth + 43.8% (EUR) EBIT doubles on volume growth, operational leverage and further integration benefits Share gains in all markets First full year post integration in Russia Exceptional Russian beer market growth fuelled by favourable weather Slide4:  BBH Group Q107 Results overview * Includes non-beer volume BBH Group Net sales development – Q107 v Q106:  BBH Group Net sales development – Q107 v Q106 * Includes non-beer volume BBH Group Margin development – Q107 v Q106:  BBH Group Margin development – Q107 v Q106 * Includes non-beer volume Russia BBH strengthens its position:  Russia BBH strengthens its position Innovation and brand development drive BBH growth ahead of the market Baltika brand extends leadership position in Russia Market share of 11.3% Baltika Cooler volumes exceed 1.5 mhl in first year Baltika-3 growth momentum continues Exceptional growth of premium and licensed brands supported by innovation and restyling Kronenbourg 1664 volumes increased four-fold Tuborg leading in the licensed segment Planned capacity of new brewery in Novosibirsk, W Siberia increased to 4.5mhl to support growth Russia Volumes growth and market share:  Note: Baltika domestic beer volumes * Estimate Sources: BBH, State Statistics Committee, Breweries, Business Analytica Russia Volumes growth and market share Other markets Highlights:  Other markets Highlights Baltics BBH builds on leading position in all markets Non beer growth accelerates Innovation driving premium beer growth Ukraine Actions to turnaround business continue Strong growth of licensed brands Kazakhstan Double-digit market growth continues Further market share gains Development markets Uzbekistan and Belarus Outlook:  Outlook Russian market growth of 5%-8% for 2007, moving towards previous guidance of 3%-5% in medium term Balancing volume and value, share gains anticipated in Russia Price increases in Russia just below food & beverage inflation Continued focus on turnaround in Ukraine Full year EBIT margin in line with last year 2007 capex spend of €400-€500m, including cost of revised capacity for new brewery in Novosibirsk Supplementary slides:  Supplementary slides Slide12:  Baltika 37.5% Sun Interbrew 18.5% Ochakovo 4.0% Heineken 13.1% Efes* 9.2% * Estimate Source: State Statistics Committee, Breweries sales data SUN Interbrew since Y2005 includes Tinkoff Heineken total includes all acquisitions (since 2004) Efes includes Krasny Vostok Russia Beer market share SAB Miller 6.3% Other markets Volumes growth and market share:  Other markets Volumes growth and market share Source: BBH, State Statistics Agencies, Brewers’ Unions * Includes official Baltika imports Results overview – EUR and USD:  Results overview – EUR and USD MUSD Net sales EBITDA EBITDA Margin EBIT EBIT Margin Q107 645 167 25.9% 116 18.0% Q106 % change 411 92 22.4% 49 11.9% +56.9 +81.2 +3.5pts +137.5 +6.1pts MEUR Net sales EBITDA EBITDA Margin EBIT EBIT Margin Q107 492 127 25.9% 88 18.0% Q106 % change 342 77 22.4% 41 11.9% +43.8 +66.1 +3.5pts +117.5 +6.1pts Currency:  Currency 0.7631 0.0290 0.0380 0.8319 0.0296 0.0356 Q107 Q106 Average rate +8.27 +2.02 -6.74 EUR : USD EUR : RUR USD : RUR % change

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