CREDIt RAtING OF ANADOLU EFES

Recommendations

Info

Anadolu Efes Biracılık ve Malt Sanayii Anonim Şirketi NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As at December 31, 2010 (Currency - Unless otherwise indicated thousands of Turkish Lira (TRL)) NOTE 3. BUSINESS COMBINATIONS (continued) Transactions Related with 2009 (continued) Acquisitions (continued) The total fair value of net assets of Anadolu Etap as of the acquisition date is as follows: Fair Value Carrying Value Cash and cash equivalents Trade and other receivables Inventories Other assets Property, plant and equipment and intangibles Deferred tax assets Financial liabilities Trade and other payables Due to related parties Deferred tax liabilities Other liabilities 3.487 1.290 30.531 4.438 34.548 - (17.238) (6.697) (2.727) (4.002) (25.233) 3.487 1.290 25.577 4.438 13.873 1.021 (17.238) (6.697) (2.727) - (25.233) Fair value of net assets acquired 18.397 (2.209) Total cash consideration Group’s share in net assets 18.311 (6.133) Goodwill arising from acquisition 12.178 Total cash consideration Cash in the subsidiary acquired, Group’s share (-) 18.311 (1.162) Net cash outflow on acquisition 17.149 NOTE 4. JOINT VENTURES Summarized financial information about proportionally consolidated amounts included in the consolidated financial statements before consolidation adjustments and reclassifications are as follows: 174 2010 2009 Current assets 659.168 609.128 Non-current assets 883.904 854.736 Total assets 1.543.072 1.463.864 Short-term liabilities 452.245 587.452 Long-term liabilities 357.821 232.062 Equity 733.006 644.350 Total liabilites 1.543.072 1.463.864 Net income 96.111 85.226 There are no commitments given by the Company on behalf of the joint ventures as of December 31, 2010 and 2009.
Anadolu Efes Biracılık ve Malt Sanayii Anonim Şirketi NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As at December 31, 2010 (Currency - Unless otherwise indicated thousands of Turkish Lira (TRL)) NOTE 5. SEGMENT INFORMATION The Group’s segment reporting disclosed in accordance with IFRS 8 is disclosed as follows with respect to operating segments as of December 31, 2010 and 2009. 2010 Turkey Beer International Beer Soft Drinks Other (1) and Eliminations Revenues 1.293.426 1.464.174 1.383.607 51.257 4.192.464 Inter-segment revenues (10.821) (188) (38) (12.624) (23.671) Total Sales 1.282.605 1.463.986 1.383.569 38.633 4.168.793 EBITDA 519.064 320.273 218.589 (38.922) 1.019.004 Depreciation and amortization 74.932 149.623 74.027 2.449 301.031 Provision for retirement pay liability 8.348 - 3.981 158 12.487 Other 3.617 1.768 3.963 2.514 11.862 Profit / (loss) for the year 368.514 94.209 99.694 (43.976) 518.441 Capital expenditures (Note 18, 19) 92.077 147.322 80.206 11.109 330.714 2009 Revenues 1.264.171 1.325.053 1.209.908 32.415 3.831.547 Inter-segment revenues (9.046) (349) (49) (11.036) (20.480) Total Sales 1.255.125 1.324.704 1.209.859 21.379 3.811.067 EBITDA 502.959 262.993 185.277 (34.615) 916.614 Depreciation and amortization 68.967 130.214 66.286 90 265.557 Provision for retirement pay liability 4.820 - 4.203 - 9.023 Negative goodwill - - (5.210) (8.293) (13.503) Other 2.276 5.257 1.154 (1.131) 7.556 Profit / (loss) for the year 363.056 (360) 85.035 (25.459) 422.272 Capital expenditures (Note 18, 19) 102.698 156.581 65.704 (7.332) 317.651 (1) Includes other subsidiaries included in the consolidation of Anadolu Efes and headquarters expenses. <strong>ANADOLU</strong> <strong>EFES</strong> ANNUAL REPORT 2010 Total 175
Page 1 and 2:
ANADOLU EFES ANNUAL REPORT 2010
Page 3 and 4:
Commencing its operations in 1969 w
Page 5 and 6:
An International Powerhouse… Reac
Page 7 and 8:
owned. The majority shareholders, Y
Page 9 and 10:
Soft Drinks Group Anadolu Efes cond
Page 11 and 12:
ANADOLU EFES ANNUAL REPORT 2010 09
Page 13 and 14:
Turkey Syria Jordan Georgia Iraq Az
Page 15 and 16:
CAPItAL AND ShAREhOLDING StRUCtURE
Page 17 and 18:
A pioneer in the beverage industry
Page 19 and 20:
(1996). • Assets of Toros Biracı
Page 21 and 22:
• CCİ reached an agreement to un
Page 23 and 24:
• Kazakhstan’s first bottled dr
Page 25 and 26:
Page 27 and 28:
Page 29 and 30:
We strengthened our position furthe
Page 31 and 32:
guidance we forecasted that our 201
Page 33 and 34:
cases in 2010. While we realized st
Page 35 and 36:
Tuncay Özilhan - Chairman (1) Born
Page 37 and 38:
authored more than 20 books and hun
Page 39 and 40:
Chief Financial officer N. orhun K
Page 41 and 42:
Ömer Öğün - Efes Kazakhstan Gen
Page 43 and 44:
Berke Kardeş - Commercial Director
Page 45 and 46:
N. orhun Köstem - Chief Financial
Page 47 and 48:
Özlem Aykaç İğdelipınar - Chie
Page 49 and 50:
We completed another successful yea
Page 51 and 52:
While responding to changing consum
Page 53 and 54:
Anadolu Efes has a 28 percent stake
Page 55 and 56:
eer “Gusta”; the aromatized bee
Page 57 and 58:
herlands-based EBI, which conducts
Page 59 and 60:
to a beer market that has quadruple
Page 61 and 62:
Expanding its market share and stre
Page 63 and 64:
SOFt DRINKS - International All ope
Page 65 and 66:
We add value to life… Anadolu Efe
Page 67 and 68:
contemporary enterprises that ident
Page 69 and 70:
economic and ethical priorities and
Page 71 and 72:
the Arabia CSR Network, was given t
Page 73 and 74:
developments and industrialization
Page 75 and 76:
environment and its contributions t
Page 77 and 78:
informed about the risks associated
Page 79 and 80:
first and only Turkish team to win
Page 81 and 82:
Anadolu Efes launched initiatives i
Page 83 and 84:
• does not feature content claimi
Page 85 and 86:
The Company does not employ child l
Page 87 and 88:
Continued rise in profitability in
Page 89 and 90:
sales and distribution of beer prod
Page 91 and 92:
5 percent extra price increase to c
Page 93 and 94:
In such a challenging year, Turkey
Page 95 and 96:
two Turkish banks; USD 100 million
Page 97 and 98:
Turkey Operation’s full year volu
Page 99 and 100:
TRL 435.0 million and EBITDA margin
Page 101 and 102:
Summary Tables Anadolu Efes Consoli
Page 103 and 104:
turkey Beer Operations Highlighted
Page 105 and 106:
Soft Drink operations (CCİ) Highli
Page 107 and 108:
The official website of the Company
Page 109 and 110:
Page 111 and 112:
We believe in Corporate Governance
Page 113 and 114:
Our Company complies with and has i
Page 115 and 116:
Our Company’s Annual Report and A
Page 117 and 118:
Investor Relations Manager under th
Page 119 and 120:
section, when the date of the finan
Page 121 and 122:
12. Disclosure of the Persons Entit
Page 123 and 124:
stakeholders is one of the key poli
Page 125 and 126: career and financial means granted,
Page 127 and 128: of the Company’s management. In a
Page 129 and 130: systems are being made against any
Page 131 and 132: conducts studies for building up a
Page 133 and 134: C. NET REVENUES Turkey Beer Interna
Page 135 and 136: at Anadolu Efes. Mr. Cüceloğlu ap
Page 137 and 138: REPORT OF THE BOARD OF AUDITORS Com
Page 139 and 140: ANADOLU EFES BİRACILIK VE MALT SAN
Page 141 and 142: Opinion 4. In our opinion, the acco
Page 143 and 144: Anadolu Efes Biracılık ve Malt Sa
Page 175: Anadolu Efes Biracılık ve Malt Sa
show all

CREDIt RAtING OF ANADOLU EFES

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?