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February 19, 2009
Activity results of the company Slavutich, Carlsberg Group in 2008

  • Sales volume in natural units: 8,169 thousand hectoliters, +19% up to the same period in 2007
  • Sales volume in terms of money : 2,277 million UAH, +44%
  • Operating profit: +127 million USD, +12%
  • Net profit: -293 million UAH

Brands (data on the domestic market, without consideration of export)

Reduction of growth rate became one of the main tendencies of the beer market in Ukraine in 2008. Based on the results of the year the market growth in natural unit made up 0% and in terms of money +21%. Notwithstanding the market slowdown at year-end the sales growth of Slavutich, Carlsberg Group made up +16.2% in natural unit. Comparable with 2007 the company's share increased by +3.3% and made up 23.7% (according to the company's data).

Last year sales of the major brand of TM "Slavutich" increased by +28.5%. The brand share in the market has increased by +1.8% and makes up 8%. Sales growth of TM "Slavutich" was conducted by promotion action "Money under the cover" as well as by action "10 years together" related to the tenth anniversary of the trademark. Moreover in June 2008 the company has started production of two new sub-brands of "Slavutich ICE" - «ICE Mix» with flavour of green lime and "ICE Mix" with flavour of red-pipe cherry in the segment of beer with fruit flavour, which is new for the company. At year-end the actual sales of sub-brands exceeded the company's forecasts.

"uborg" managed to keep its leading positions in the super-premium segment which increased by +5% in 2008. Last year the sales of "uborg" enlarged by +15%. In comparison with 2007 the brand share has grown by +0,3% and makes up 2.3%. Due to the results of the year the brand "uborg" takes 52% of the super-premium segment being a driver for growth of this segment. Sales increase of "uborg" was promoted by the launch of two sub-brands in April 2008 - "Tuborg Twist" and "Tuborg Black". In order to support the sub-brands a non-standard communication strategy was chosen. It was based on the competition, or struggle between the two types. Moreover in 2008 "Tuborg GREEN" has successfully conducted the promotion action "Come off at GREENfest to Europe!", the main prize of which was the drawing of 30 trips to "Tuborg GREENfest" in Serbia.

According to the results of 2008, "Baltika" demonstrated +26.3% sales growth. The brand share in the market has increased by +0.5% and makes up 2.3% at year-end. As before the brand "Baltika" remains to be a leader of the premium segment with near 30% of the share.

"Lvivske" grew in its sales by +15,6% at year-end being the sales leader in the west region of the country . During the year the share of "Lvivske" has increased by +0,8% in the market and makes up 5,7%. The growth of the brand share was promoted by numerous local promotion actions including the promotion campaign "Million hryvnias from the beer "Lvivske"!

Notwithstanding the reduction in the econom-segment the sales volume of "Arsenal" grew by +8.6% at year-end. The brand share has increased by +0.3% and makes up 3.8% at year-end. Positive dynamics can be seen in other licensed brands of the company as well: +17.3% growth of Carlsberg, "Holsten" grows at the level of other premium marks.

In May 2008 the company has started the production of the totally new product - "Kvas Taras". The first filling of the kvas took place in Kyiv brewery "Slavutich" at the end of May. At the present time "Kvas Taras" is produced at "Lvivska brewery" either. Since the launch the product has been demonstrating a long-term dynamics of growing in the market.

Sales volume of Pepsi increased by +31% at year-end. The beverage hare in the cola segment makes up 27.3% which is +4% more than in 2007.


Export volume of the company in 2008 made up 477 thousand hectoliters of beer which is +29% more than last year. The main export volume is divided between such countries as Moldova, Russia, Belorussia, Armenia, Georgia. "Slavutich" makes up 85% of the company's export.
In September 2008 Slavutich, Carlsberg Group has started the production of the beer brand "National" which was produced especially for the market of Moldova. Within several months of 2008 the level of sales of "National" exceeded 100 thousand decaliters in the Moldavian market.


The average price per liter of the company's products in 2008 increased by +23% comparable with 2007 (the price of shipping beer to the distributors).

Financial performance
The main economic characteristics of the company's activity in 2008 (according to financial reports for further consolidation calculated due to IFRS; not taking into account PPA corrections made after the company Carlsberg consolidated 100% assets of BBH (-38.6 million UAH)).

The exchange loss on currency credits met in the result of hryvnia depreciation at the end of 2008 was the reason of negative net loss in 2008.


Sales volume in
mln. litres
Net profit on sales

1.585 mln. UAH
846 2.277 mln. UAH
44 %

Profit *




profit margin


profit margin









Before depreciation, taxes and financial items (EBITDA)

235 mln. UAH

15 %

297 mln. UAH

13 %

26 %

Operating (EBIT)

113 mln. UAH

7 %

127 mln. UAH

6 %

12 %


43 mln. UAH

3 %

- 293 mln. UAH

- 13 %

- 785 %

* Data are given without PPA corrections (-38.6 million UAH)

Peter Chernyshov, Chief Executive of Slavutich, Carlsberg Group: "2008 was not easy for the brewers. Rise of prices for the main raw material and as a result growing prices for beer, cold season and inflation became the reason for slowdown in growth rates of the Ukrainian beer market. Notwithstanding such negative situation our company managed to overpass the sales volumes of 2007 and to enlarge the market share by 3.3%".


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