Russian brewer, Vena, has registered a 25% increase of its overall sales in 2003 versus 2002, the company posted on February 18. In 2003, the Russian brewer sold 163 million litres of all its products. Beer sales of Vena increased by 20.5%, which is above the average 6.5% increase in Russian beer sector in 2003. At present, Vena's market share in money terms comes to 4.8%, according to the Business Analitika marketing research agency.

In 2003 Vena earned a profit of 160 million roubles (US$5.6 million) to Western accounting standards, compared to 2002, when the company posted a net loss. The company's performance is largely due to the new positioning of the Nevskoye brand, which saw its sales rise by 20%. As of today, Nevskoye is the second popular brand in Russia in the segment of premium beer with a 17% market share. In St. Petersburg, Nevskoye remains the leading premium brand with a 42.8% market share in money terms.

A high rise in sales was also posted by the company’s second main brand, Tuborg, whose sales rose 25.6% in 2003. Its share of the licensed beer segment in money terms stands at 7.7%, according to Business Analitika.

In 2004, the company plans to boost investment in marketing and sales and to expand production capacities. In addition, a regional expansion will be continued, mainly into Moscow and Russia's central region.

Vena’s main shareholders are Denmark's Carlsberg Breweries A/S (49.9%) and Sweden's Baltic Beverages Holding (49.9%).

25 February, 2004