CREDIt RAtING OF ANADOLU EFES

MAIN OPERAtIONAL AND FINANCIAL
INDICAtORS
Income Statement Items (1) 2010 2009 Change (%)
Beer Sales Volume (m hectoliters) (2) 24.2 22.1 9.2
Soft Drink Sales Volume (m unit case) (3) 665.4 586.5 13.5
Net Sales (000 TL) 4,168,793 3,811,067 9.4
Profit from Operations (000 TL) 693,624 647,981 7.0
Profit from Operations Margin 16.6 % 17.0 %
Depreciation and Amortization (000 TL) 301,031 265,557 13.4
Net Income (000 TL) 503,640 422,588 19.2
Net Income Margin ( percent) 12.1 % 11.1 %
EBITDA (4) (000 TL) 1,019,004 916,614 11.2
EBITDA (4) Margin 24.4 % 24.1 %
Balance Sheet Items 2010 2009 Change (%)
Cash, Cash Equivalents and
Marketable Securities (000 TL) 994,414 1,074,460 -7.4
Total Assets (000 TL)
Equity Attributable Equity Holders of the
5,588,831 5,430,041 2.9
Parent (000 TL)
Total Financial Debt (including lease
2,767,087 2,426,917 14.0
obligations) (000 TL) 1,764,496 1,857,385 -5.0
Net Financial Debt/EBITDA 0.8X 0.9X
Capital Expenditure (Gross) (5) (000 TL) 330,714 317,651 4.1
Number of Shares 450,000,000 450,000,000
Earnings per Share (6) 1.1192 0.9391 19.2
Average Number of Employees 15,202 15,122 5.3
Note 1: CCİ’s consolidated results are proportionally consolidated in Anadolu Efes’ Financial Statements as per Anadolu Efes’
50.3 percent shareholding.
Note 2: EBITDA: Earnings before interest, tax, depreciation, and amortization are calculated by adding or subtracting
depreciation and other relevant non-cash items up to profit from operations.
Note 4: Earnings per share is calculated by dividing the net profit for the period attributable to ordinary shareholders by the
weighted average number of ordinary shares outstanding during the period.
Note 5: 1 hectoliter = 100 liters.
Note 6: 1 unit case = 5.678 liters.
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