CREDIt RAtING OF ANADOLU EFES
CREDIt RAtING OF ANADOLU EFES
CREDIt RAtING OF ANADOLU EFES
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Turkey Operation’s full year volume was up by 12.6 percent to 494.4<br />
million unit cases. The increase of the sparkling beverage category was at<br />
low double digits driven by successful promotional activities, new package<br />
launches, as well as supportive macro-economic environment and above<br />
average weather temperatures. Still beverages grew at mid-teens in<br />
FY2010 helped by product launches which drove additional sales volume.<br />
International Operations’ sales volume rose by 22.8 percent to 34.6<br />
million unit cases in 4Q2010. International Operations’ volume was up<br />
by 15.9 percent to 171.0 million unit cases in FY2010. Volume growth<br />
was particularly strong in Central Asia at around 25 percent driven by<br />
successful execution and improved economic conditions.<br />
Growth in consolidated net sales revenue in 4Q2010 reached TL 529.2<br />
million while exceeding sales volume, representing an increase of 24.9<br />
percent. Net revenue per case increased by 5.3 percent to TL 4.07<br />
primarily due to positive category mix in Turkey as well as price increases<br />
in international operations. In FY2010, consolidated net sales revenue<br />
amounted to TRL 2,753.2 million, up by 14.4 percent. Net revenue per<br />
case increased by 0.8 percentage point as a result of higher average<br />
pricing across all operational divisions particularly in Turkey in the second<br />
half of the year. International operations’ contribution in consolidated sales<br />
revenue increased from 22.5 percent to 23.0 percent.<br />
In Turkey, net sales increased by 22.9 percent in 4Q2010. Furthermore,<br />
net sales per unit case increased by 5.0 percent due to the positive<br />
category mix effect in 4Q2010, as a result of effective revenue growth<br />
management strategies. Net sales grew by 13.6 percent in FY2010 higher<br />
than sales volume growth on the back of price increases and favorable mix<br />
in the second half despite higher discounts and unfavorable product mix<br />
especially in the first half of the year. Accordingly, net sales per unit case<br />
slightly increased by 0.8 percent to TRL 4.29.<br />
In international operations, net sales grew by 32.3 percent to USD 89.9<br />
million in 4Q2010, whereas net sales per unit case increased by 7.7 percent<br />
to USD 2.60. Consolidated international net sales revenue increased by<br />
20.8 percent to USD 422.8 million in FY2010, which is ahead of sales<br />
Soft Drink Operations<br />
Consolidated Net Sales Revenue<br />
(TRL million)<br />
2009<br />
2,407.5 2,753.2<br />
2010<br />
Soft Drink Operations<br />
Net Sales Revenue Breakdown (%)<br />
turkey<br />
Operations<br />
77 %<br />
International<br />
Operations<br />
23 %<br />
<strong>ANADOLU</strong> <strong>EFES</strong> ANNUAL REPORT 2010<br />
95
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