Belvedere maintains growth but might not reach EBITDA objective

By Caroline Salls

Pittsburgh, Dec. 10 - Belvedere SA said it managed to maintain a significant level of growth in its principal markets during the first nine months of 2008 despite generally more difficult market conditions, but the company warned that it might not be able to reach its initial €60 million EBITDA objective, according to a Wednesday news release.

Belvedere said it has maintained its objective of €1.2 billion of annual sales so far this year.

Specifically, the company said it recorded sales growth of 22.1% in the first nine months of this year, as well as an 11% increase in billings. The company reported a total of €875.5 million in sales for the first nine months of 2008, compared with €716.8 million for the same period of 2007.

By region, the company said its group continued growth at a steady rate, increasing 50%, in Poland; a 4.9% sales increase in France; a 49.4% sales growth in the United States, where sales were recorded at €45 million; and an 18% and 38% sales growth in Lithuania and Bulgaria, respectively.

Based in Beaune, France, the company is a producer and distributor of alcoholic and non-alcoholic beverages.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.