10.11.2006 ANNOUNCEMENT FROM EFES ... - Coca Cola İçecek

10.11.2006
ANNOUNCEMENT FROM
EFES SINAI YATIRIM HOLDING A.S. (EFES INVEST)
Efes Sinai Yatirim Holding A.S. (“Efes Invest”, “the Company”), with headquarters in Turkey and Coca-
Cola bottling operations in C.I.S. and Middle East countries, released its consolidated interim results as of
and for the nine months period ended 30.09.2006 prepared in accordance with the International Financial
Reporting Standards (IFRS) as per the principles issued by Capital Market Board (CMB).
Attached please find the Consolidated Interim Financial Statements comprising the income statement for
the nine months period ending 30.09.2006 and 30.09.2005 as well as the balance sheets as of 30.09.2006
and 31.12.2005, together with the detailed notes to consolidated interim financial statements. Additionally
the information given below is released to inform our investors.
Efes Invest owns and operates 4 Coca-Cola bottling franchises in Kazakhstan, Kyrgyzstan, Azerbaijan
and Jordan in addition to Turkmenistan, where the Company is the largest shareholder. Bottling
operations in Kazakhstan, Kyrgyzstan, Azerbaijan and Jordan in which Efes Invest holds majority shares
are fully consolidated in the enclosed interim results. Turkmenistan franchise, 33% subsidiary of Efes
Invest, is consolidated on an equity basis.
Since 90% shares of Coca-Cola Bottling Company of Jordan (“CCBCJ”) was acquired at 29 December
2005, income statement of the related subsidiary is not consolidated in the comparable nine month period
ended 30.09.2005. Restructuring activities have immediately started in CCBCJ and positive impact is
seen, in both our consolidated sales volume and net sales revenue in YTD 3Q2006. However , due to high
amount of budgeted restructuring costs, Jordan financials will have a negative effect on our profitability
levels in 2006. From 2007 onwards it is expected that the results of our Jordanian operations will have an
overall positive effect on our financials.
In YTD 3Q2006 consolidated sales volume reached 63.7 million unit cases representing an increase of
64% from 38.9 million unit cases in YTD 3Q2005. Our franchises in Kazakhstan, Azerbaijan, Jordan and
Kyrgyzstan delivered 46%, 29%, 19% and 6% of the consolidated sales volume respectively, in the nine
month period ended 30.09.2006. By excluding the sales volume of Jordan operation, organic growth of
our consolidated sales volume was 32% in YTD 3Q2006.
Consolidated Net Sales Revenue grew by 73% vs. YTD 3Q2005, ahead of the increase in consolidated
sales volume and reached 162.2 million USD in YTD 3Q2006. Our franchises in Kazakhstan, Jordan,
Azerbaijan and Kyrgyzstan provided 57%, 19%, 18% and 6% of our Consolidated Net Sales Revenue
respectively, in the nine months period ended 30.09.2006. Organic growth of our consolidated net sales
revenue excluding Jordan was 42% in YTD 3Q2006.
For further information regarding Efes Invest and Efes Beverage Group, please visit our website at
http://www.efesinvest.com/ or you may contact;
Mr. Michael O’Neill
CEO
Coca-Cola Icecek A.S.
tel: 90 216 528 44 68
facsimile: 90 216 420 60 66
e-mail: Michael_O’Neill@cci.com.tr
Mr. Chris Gaunt
President
Efes Invest
tel: 90 216 586 80 74
facsimile: 90 216 387 91 92
e-mail: chris.gaunt@efesinvest.com
Mr. Hakan Nazlioglu
Finance Director
Efes Invest
tel: 90 216 586 80 66
facsimile: 90 216 387 91 92
e-mail: hakan.nazlioglu@efesinvest.com

Our gross profit reached to 52.7 million USD in YTD 3Q2006 with 60% increase over YTD 3Q2005 and
our gross profit margin is 32% in YTD 3Q2006. By excluding the positive gross profit impact of Jordan
operation, our gross profit margin is maintained at 36% and grew by 31% in the nine months period
ended 30.09.2006 when compared with the same period of 2005 despite the increase in certain raw
material costs (mainly sugar).
Profit from operations reached to 20.1 million USD in YTD 3Q2006 vs. profit from operations of 17.1
million USD in YTD 3Q2005. By excluding loss from operation realized in Jordan, our consolidated
profit from operations was 23.5 million USD for the nine months period ended 30.09.2006.
Meanwhile, Cash Operating Profit (COP) grew by %37 and increased to 29.3 million USD in YTD
3Q2006 from 21.4 million USD in YTD 3Q2005 and Cash Operating Profit is margin maintained at 18%
for the nine months period ended 30.09.2006.
Net profit in YTD 3Q 2006 is amounting to 10.8 million USD, down from 12.7 million USD profit in
YTD 3Q2005 due to increased tax expenses. Excluding the net loss effect of the Jordan operation, our
consolidated net profit reached to 14.5 million USD representing an increase of %14 in YTD 3Q2006.
For further information regarding Efes Invest and Efes Beverage Group, please visit our website at
http://www.efesinvest.com/ or you may contact;
Mr. Michael O’Neill
CEO
Coca-Cola Icecek A.S.
tel: 90 216 528 44 68
facsimile: 90 216 420 60 66
e-mail: Michael_O’Neill@cci.com.tr
Mr. Chris Gaunt
President
Efes Invest
tel: 90 216 586 80 74
facsimile: 90 216 387 91 92
e-mail: chris.gaunt@efesinvest.com
Mr. Hakan Nazlioglu
Finance Director
Efes Invest
tel: 90 216 586 80 66
facsimile: 90 216 387 91 92
e-mail: hakan.nazlioglu@efesinvest.com