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Business news, 17.01.2003 17:08

Baltika brewery reports 2002 turnover of USD 900 million

Baltika brewery reports 2002 turnover of USD 900 million The Baltika brewery has announced that turnover for 2002 totaled some USD 900 million with the volume of sales reaching 160 million deciliters, Baltika's Vice-President for Finances and Economy Alexander Nikonov told journalists yesterday. Growth for 2003 is forecast at 15%, he added. In 2001, the company sold 140 million decalitres of beer products. In the future, Baltika will invest about 1% of its turnover in IT development. According to Mr Nikonov, 6% of the company's products were exported in 2002 and this number is to go up to 10% within the next two years. It's worth mentioning that the first time Baltika beer appeared on western markets was in 1999. At present, the company is exporting to almost all CIS countries as well as Germany, Switzerland, Great Britain, Israel, the USA, the Baltic countries, Mongolia and others. According to Mr Nikonov, Baltika has no plans to build new factories in the near future.

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