Heineken ups Russia sales 25% in H1
MOSCOW. Aug 25 (Interfax) - Heineken increased sales in Russia 25% in the first half of 2011 year-on-year, the brewing giant said in a press release.
Revenue rebounded after declining substantially in 2010 due to the tripling of the excise tax on beer, Heineken said.
Heineken's four key brands in Russia - Heineken, Zlaty Bazant, Okhota and Tri Medvedya - posted strong growth and increased market share. However, higher marketing and production costs weighed on operating profits.
Heineken's worldwide sales volume rose 20% to 1.04 billion decaliters, mainly due to consolidation of Mexican FEMSA (beginning in May 2010). Organic growth amounted to 4.2%.
Sales in Central and Eastern Europe rose 7.5% to 254 million dal.
Revenue was up 11% to 8.3 billion euro overall. Organic revenue growth amounted to 3.3%. Net profit was 694 million euro (organic growth of 5.7%).
Heineken has eight breweries in Russia. It has 125 breweries worldwide.