Heineken subsidiary in Russia ups revenue 1% in 2013
MOSCOW. July 25 (Interfax) - LLC Heineken Brewery, Heineken's Russian subsidiary, upped revenue 1% in 2013 to 30.79 billion rubles from 30.48 billion rubles in 2012, the SPARK Interfax database shows.
Revenue climbed 18% in 2012.
Sales costs fell to 13.8 billion rubles in 2013 from 14.8 billion rubles. Gross profit grew to 16.98 billion rubles from 15.63 billion rubles.
Commercial expenditures increased 9.9% to 13.48 billion rubles and administration costs rose 7.8% to 3.84 billion rubles.
Operating losses increased to 328.7 million rubles from 181.9 million rubles in 2012.
Net losses amounted to 1.87 billion rubles after a net profit of 84.15 million rubles in 2012. The losses were the highest for the last few years (net losses in 2011 amounted to 1.4 billion rubles. In 2009 losses were at 535.7 million rubles. The company closed 2010 with a net profit of 682.7 million rubles.
Heineken boosted revenue 4.5% in 2013 to 19.2 billion euros. Heineken has worked in Russia since 2002. The company announced sales had dropped on the Russian market in 2013, however, it did not disclose the amount. Among the factors that had a negative impact on sales, Heineken spoke about the rise in excises and changes to industry regulation.
