Home   /   Contact Us   /   Legal Disclaimer  
   

Q. What is the relationship
between Anadolu Efes and EBI?

A. Anadolu Efes owns 70.2% of EBI which conducts brewing operations in Southeast Europe, Russia and Central Asia.

read more

Download
EBI Investor Fact Sheet

 Click here to download
(PDF Document - 148 Kb)

     

This corner of our web site is intended to give you information about our financial performance

 

EFES BREWERIES INTERNATIONAL N.V.
CONSOLIDATED INCOME STATEMENT
For the period ended June 30, 2006 and 2005
(US$ in thousands)
YTD H1 2006
YTD H1 2005
Sales  292,129 221,683
Cost of sales (151,715) (119,213)
Gross profit 140,414 102,470
Selling and marketing expenses  (78,896) (60,292)
General and administrative expenses (32,113) (24,656)
Other operating expense (1,342)  (445)
Profit from operations 28,063 17,077
Financial income/(expense) (8,256) (9,965)
 
Profit before tax 19,807 7,112
Income tax (6,938) (7,233)
Profit after tax 12,869 (121)
Minority interest (390) (2,089)
Net profit  12,479 (2,210)
EBITDA (1) 54,360 37,844
VOLUME (mio hl) 5.54 4.15

(1) EBITDA here means earnings before interest (financial income/(expense) — net), tax, depreciation and amortisation, minus minority interest, and as applicable, minus gain on holding activities, plus provisions, reserves and impairment.
 
The consolidated financial statements include Efes Breweries International N.V. and the companies which it controls ("Subsidiaries") except for Interbrew Efes Brewery in Romania ("Interbrew Efes") which is a jointly controlled entity. Interbrew Efes is recognized by using the proportionate consolidation basis (50%).
 
EFES BREWERIES INTERNATIONAL N.V.
CONSOLIDATED BALANCE SHEET
As of June 30, 2006 and December 31, 2005
(US$ in thousands)
H1 2006
FY 2006
 
Cash and cash equivalents 191,9103 96,860
Trade and other receivables 53,259 38,032
Due from related parties 7,200 5,395
Inventories 98,050 55,183
Prepayments and other current assets 47,757 27,237
Total current assets 398,176 222,707
 
Investments in securities 1,676 1,678
Property, plant and equipment  634,358 343,602
Intangible assets 382,307 209,209
Deferred tax assets 7,680 1,044
Prepayments and other non-current assets 3,617 2,179
Total non-current assets  1,029,638 557,712
 
Total assets 1,427,814 780,419
 
Trade and other payables 102,533 149,466
Due to related parties  20,921 20,497
Income tax payable 3,463 746
Short-term borrowings 694,185 50,511
Current portion of long-term borrowings 17,990 18,653
Total current liabilities 839,092 239,873
 
Long-term borrowings-net of current portion 23,675 41,484
Deferred tax liability 14,991 13,104
Other non-current liabilities 78,093 78,242
Total non-current liabilities 116,759 132,830
 
Minority interest 48,724 24,878
 
Total equity 423,239 382,838
 
Total liabilities and equity 1,427,814 780,419
 

The consolidated financial statements include Efes Breweries International N.V. and the companies which it controls ("Subsidiaries") except for Interbrew Efes Brewery in Romania ("Interbrew Efes") which is a jointly controlled entity. Interbrew Efes is recognized by using the proportionate consolidation basis (50%).

EFES BREWERIES INTERNATIONAL N.V.
CONSOLIDATED CASH FLOW
For the period ended June 30, 2006 and 2005
(US$ in thousands) YTD H1 2006
YTD H1 2005
Net profit before minority interest and income tax 19,807 7,112
Depreciation and amortisation 26,157 19,388
Provisions, reserves and impairment 140 1,379
Other non-cash expense 272 124
Net interest expense 14,022 1,813
(Increase)/decrease in net working capital (1,166) (4,342)
Net interest paid (10,410) (1,606)
Income taxes paid (3,366) (3,817)
Net cash provided by operating activities 45,456 20,051
Capex (81,302)                 (54,587)
Acquisition of subsidiary (427,079) -  
Other investing activities 1,076 (490)
 
Net cash used in investing activities (507,305) (55,077)
Proceeds from/(repayments of) debt  553,064 25,580
Net cash provided by financing activities 553,064 25,580
Currency translation differences 3,835                    (471)
Net increase in cash and cash equivalents 95,050 (9,917)
Cash and cash equivalents at beginning of year 96,860 134,668
Cash and cash equivalents at end of period 191,910 124,751
The consolidated financial statements include Efes Breweries International N.V. and the companies which it controls ("Subsidiaries") except for Interbrew Efes Brewery in Romania ("Interbrew Efes") which is a jointly controlled entity. Interbrew Efes is recognized by using the proportionate consolidation basis (50%).