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

34
International
markets
In Morocco, Régie des Tabacs’ sales maintained their upward trend. The strategy
of introducing the Group’s international brands – Gauloises Blondes and Fortuna
– was successfully implemented, along with ongoing reinforcement of Régie
des Tabacs’ local brands.
In the Near and Middle East, the Group posted outstanding gains for the fourth
consecutive year.
MARQUISE
71% of the Moroccan
blond market
Morocco
A successful development
strategy
Régie des Tabacs du Maroc (RTM), in which Altadis
acquired an 80% interest in 2003, continued to improve
its performance in 2004. The cigarette business
development strategy, which is focused on increasing
shares in the blond market, began to produce results with
the successful introduction of Gauloises Blondes and
Fortuna, the Group’s fl agship brands, as well as gains
for Marquise, the Group’s top-ranking local brand.
While the overall market lost 3.5% due to widespread
smuggling, RTM gained two percentage points in
market share. Volumes were up, to 86.3% of the market
compared with an 84.6% share in 2003, while revenues
rose from a 65.9% to a 68% market share.
In general, the accelerated decline in the dark-cigarette
segment, which fell from 41% of the total market in 2003
to 34% in 2004, benefi ted the company’s local blond
brands, while the launching of Altadis’ international
brands provided a major new growth driver.