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Hayır (No)
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2020 GUIDANCE Consolidated sales volume is expected to grow by low-to-mid-single digit Total Beer volume is to grow by low-to-mid single digit Turkey beer sales volume is expected to be flat Russian beer sales volume is estimated to grow by low-to-mid single digit while outperforming the market. The competitive environment became tougher within the last year and we expect this trend to continue. International beer sales volume is expected to grow by low-to-mid single digit with the positive contribution of all international operations Consolidated Soft Drinks sales volume: 3-4% growth Turkey soft drinks: Flattish International soft drinks: Mid-single digit growth Consolidated Net Sales Revenue is expected grow low-teens on FX-Neutral basis, supported by all business lines Total Beer revenue is expected to grow by low-teens on FX-Neutral basis, benefitting from both Turkey and international beer Turkey Beer Revenue is expected to grow by high-teens attributable to favorable product mix and price increases International Beer Revenue is expected to increase by low-teens on FX-Neutral basis, driven by higher volume growth, price increases and portfolio mix Total Soft Drinks: 15-18% growth on a consolidated basis (FX-neutral) Consolidated EBITDA Margin is expected to be flat Total Beer EBITDA margn is expected to be flat or to slightly improve Turkey Beer EBITDA margn is expected to be flat or to slightly decline due to the lack of price increase at the beginning of the year where the impact of cost inflation to be covered with a lag. International Beer EBITDA margn is expected to improve which is predominantly attributable to the margn improvement in Russia and Ukraine where we will benefit from scale and portfolio Total Soft Drinks EBITDA margn: Circa 100 bps improvement without the impact of cash designation and slight decline on a reported basis Capex: As a percentage of sales, high single digits on a consolidated basis FCF: Continue to deliver strong FCF in both beer and soft drinks, yet lower compared to 2019 due to the cycling effects of a very strong base. *2020 outlook reflects management expectations and are based upon currently available data. Actual results are subject to future events and uncertainties including but not limited to macro-economic, financial, geopolitical and political risks, which could materially impact the Company's actual performance. |
We proclaim that our above disclosure is in conformity with the principles set down in “Material Events Communiqué” of Capital Markets Board, and it fully reflects all information coming to our knowledge on the subject matter thereof, and it is in conformity with our books, records and documents, and all reasonable efforts have been shown by our Company in order to obtain all information fully and accurately about the subject matter thereof, and we’re personally liable for the disclosures.