E-Malt.com News article: Estonia: Saku, the nation’s largest brewery, improves net profit by 83% in H1 2008
Estonia’s largest brewery Saku Õlletehase AS ended the reporting period with a net profit of 51.541 million kroons (3.294 million euros), a 23.403 million kroon improvement year-over-year, the company’s official site announced on August 27.
Sales revenue for the first six months of 2008 was 456.9 million kroons (29.2 million euros) including export revenue of 32 million kroons (2.0 million euros).
Total revenue amounted to 457.0 million kroons (29.2 million euros), a 7.2 million kroon decrease year-over year, while expenses for the period totalled 384.5 million kroons (24.6 million euros), up 4.2 million kroons year-over year. Expenses have grown on account of an increase in the prices of goods, materials and services and a rise in personnel expenses which expanded by 3.2 million kroons (year-over-year) to 50.1 million kroons.
At 30 June 2008, the equity of Saku Õlletehase AS stood at 302.4 million kroons (19.3 million euros), 40.9 million kroons or 15.6% up on a year ago.
According to the market research company AC Nielsen, Saku is the leader of the Estonian beer market in terms of summarised retail sales of own brands. At the end of June 2008, the market share of Saku beers was 46.0% in quantitative terms and 47.8% in monetary terms.
To commemorate the 90th anniversary of the Republic of Estonia, Saku Õlletehas launched special Saku Kuld Mild, an exclusive premium brew that is characterised by a glowing golden colour, a balance between a distinctive beer aroma and mellowness and a thick long-lasting head. An embodiment of longstanding brewing traditions and state of the art technology, Saku Kuld Mild is crème de la crème of Estonian beers.
28 August, 2008