CREDIt RAtING OF ANADOLU EFES

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While Anadolu Efes’ total beer sales volume increased by 9.2 % to 24.2 mhl in 2010, soft drink sales volume rose by 13.5 % to 665.4 million unit cases. 46
We completed another successful year… While we are further strengthening our leadership position in Turkey, Moldova and Georgia, we are vying for the third position in Russia. In Kazakhstan, we have further fortified our position and are the market leader since August 2010. In our soft drink operations, we have increased our sales volumes throughout 2010 and left behind a successful year. Brand investments made in line with our strategic decisions were important factors in this success along with our Company’s marketoriented practices. <strong>ANADOLU</strong> <strong>EFES</strong> ANNUAL REPORT 2010 47
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 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: Özlem Aykaç İğdelipınar - Chie
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:
ANADOLU EFES ANNUAL REPORT 2010 107
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
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ANADOLU EFES BİRACILIK VE MALT SAN
Page 141 and 142:
Opinion 4. In our opinion, the acco
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Anadolu Efes Biracılık ve Malt Sa
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CREDIt RAtING OF ANADOLU EFES

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