Russia: Sun Interbrew’s revenue increased 30.8% in January-September 2006 according to the Russian accounting standards

Sun Interbrew increased revenue to Russian accounting standards (RAS) 30.8% year-on-year to RUR23.7 billion in January-September 2006, Raiffeisenbank, which is serving as the organizer of a RUR4 billion bond issue for the company, said in a report, Thomson Dialog NewsEdge learned November 21 from Interfax News Agency.

EBITDA totalled RUR6.1 billion in the first nine months of 2006 compared to RUR3.8 billion in the same period of 2005. EBITDA margin totalled 25.7% in the nine months compared to 23.7% in the first half of 2006. The company increased beer production 16.2% in the third quarter compared to the third quarter of 2005.

Sun Interbrew, which represents the interests of InBev in Russia and Ukraine, was set up in the spring of 1999 by Belgium's Interbrew (InBev following a merger with AmBev) and the international finance and investment group SUN Trade to work on the Russian and Ukrainian markets. SUN Interbrew owns eight breweries in Russia and three in Ukraine. Analysts say Sun Interbrew is the second largest brewing company in Russia and the largest in Ukraine.

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