26 May 2004 02:30
Baltika net profits up 0.7% to US GAAP in Q1 (Part 2)
ST. PETERSBURG. May 26 (Interfax) - Russian brewing company Baltika turned net profits to US GAAP of $13.7 million in
the first quarter of 2004, a 0.7% year-on-year increase, a company press release reports. The company's operating
profits increased 9.2% to $20 million in January-March. Sales volume increased 6.8% to 338 million liters of beer for
the quarter.
The release reports that earnings before interest, taxes, depreciation and amortization (EBITDA) increased 24.7%
year-on-year to $39 million.
Baltika's first-quarter sales increased 31% to $170 million.
The company held a 20% beer market share at the end of the first quarter. Product export sales increased 17%
year-on-year during this period.
Baltika is one of Russia's largest brewing companies, with breweries in St. Petersburg, Tula, Rostov-on-Don,
Samara and Khabarovsk. The Scandinavian concern Baltic Beverages Holding (BBH) owns the (74.24%) controlling stock
interest in Baltika. [RU EUROPE EEU ASIA EMRG RES CORA BEV] cf
[Interfax] |
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