2007 05 09bbh download

Baltic Beverages Holding Q107 Results9 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 GroupNet sales development – Q107 v Q106 : BBH Group Net sales development – Q107 v Q106 * Includes non-beer volume


BBH GroupMargin development – Q107 v Q106 : BBH Group Margin development – Q107 v Q106 * Includes non-beer volume


RussiaBBH 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


RussiaVolumes 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 marketsHighlights : 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