Annual report 2004 (English) - PDF 3546K - Imperial Tobacco

48
Spain
and France
Ongoing growth
Altadis posted good results in these
two markets, the Group’s biggest after
the United States, including a sharp
increase in sales.
In Spain, where a 9.1% gain in
revenue and 10.8% rise in volume
outstripped growth in the market,
Altadis benefi ted particularly from its
strategy of refocusing on the two most
promising segments, small cigars
and Minis, and its policy of launching
new products.
In France, the Group’s revenues
increased by 4.3% and its sales
volume was on an upswing in a
recovering market. A strategy
of innovation and brand-portfolio
upgrading enabled Altadis to confi rm
its number-one position and to reap
strong benefi ts in a more positive
national environment.
Spain
For the second consecutive year, the Spanish cigar
market expanded, primarily due to the dynamism of the
Altadis brands. The Group maintained its leadership in
the Puros and Minis segment while growing its share in
the Puritos (small cigars) market. Sales of Cuban cigars
were very strong, with revenue growth surpassing that
of the Premium segment and of the market as a whole.
In 2004, the Spanish cigar market gained 7% in volume,
buoyed by the Minis segment, an Altadis stronghold,
which grew by 23%. Revenues rose a total of 6%, with
the largest segment (53% of the market) remaining that
of the Puros, where Altadis also holds the number-one
position.
The Group grew more than the market, with volume rising
10.8% and revenues up 9.1% due to the performance of
its fl agship brands in the three market segments. Altadis
ended 2004 with a 36.5% total market share, gaining
1.3 percentage points on the previous year.
70 million
units sold
in 12 months