SAKU ÕLLETEHASE AS

ANNOUNCEMENT

28.05.99

 

 

COMMENTARY TO THE FINANCIAL RESULTS 03/99

 

Sales results

 

Compared to the same period last year, the sales volume of Saku beers 

increased in Q1 by 52%, amounting to 8.2 million liters. The 

respective figure in 1998 was 5.4 million liters.

 

The main sales article in Q1 was “Saku Originaal”. The company sold 

during the aforementioned period about 2.4 million liters of “Saku 

Originaal”, i.e. 33% more than in Q1 1998 (1998: 1.8 million liters).

 

The sales of mineral water Vichy Classique has advanced since the 

beginning of the year. In Q1 1999, the company sold 738 thousand 

liters of Vichy Classique, which is about 58% more than the respective 

sales figure from the last year. 

 

The volume of goods exported during this period amounted to 

approximately 871 thousand liters, or 10.6% of total sales of 

production. Compared to Q1 1998, the company’s export volume has 

increased twice. One of the important factors behind the increase in 

export volume was one-time order of license beer from the Lithuanian 

beer factory Utenos Alus.

 

In Q1 1999, the estimated size of total Estonian beer market (incl. 

imports) was 15 million liters *), which is 24% more than during the 

respective period last year. The relative share of imports on the beer 

market amounted to 12% (1997: 13%).

 

The company’s market share on total market in Q1 was 49%, i.e. 8% 

higher than in Q1 last year. The market share of Saku Õlletehase AS 

has increased mainly due to well-planned marketing and sales 

activities. In January and February, Saku Õlletehas was the only 

producer to conduct a consumer campaign, which turned out to be highly 

popular and contributed significantly to increase in the sales of 

beer. Activities in HoReCa sector has increased also the sales volume 

of unbottled beer. 

 

Financial results 

 

In Q1 1999, Saku Õlletehase AS as the group’s parent company organized 

the beer production activities in close cooperation with its 

subsidiaries Saku Purgiõlle OÜ and Saku Keldri OÜ.

 

Saku Õlletehase AS as a sole owner decided on May 21 to initiate the 

liquidation process of its subsidiaries Saku Õlu OÜ Saku Purgiõlle OÜ, 

since the further activities of the aforementioned subsidiaries would 

have not been financially beneficial.

 

In Q1 1999, the net sales of the group amounted to 120.2 million EEK, 

increasing by 38.8 million EEK, or 47.6%, compared to the same period 

last year. The group’s expense account increased by 48.5% to 113.9 

million EEK. The increased expenses can be related to activated 

marketing activities to improve and secure the company’s position on 

the market.

 

Compared to Q1 last year, the group’s gross profit figure (7.6 million 

EEK) increased by 7.6%. 

 

 

The Q1 1999 net profit of Saku Õlletehase AS amounted to approximately 

7 million EEK, which is 1.2 million EEK, or 21% increase from the 

respective period last year.

____________________________________________

*) expert evaluation of Saku Õlletehas.

 

 

 

Karin Sepp

Member of the Management Board

 

 

The announcement was compiled by: 

 

Ruth Roht

Public relations manager

tel: +372 6 508 303