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Beer Group President and Anadolu Efes CEO Can Çaka’s Comments

“After making a very strong start to the year, we delivered another solid set of results; which were either above or in line with our expectations. We managed to keep our volume growth momentum, assisting our consolidated volumes to exceed pre-pandemic levels. Brand investments and innovations, market executions together with the initiatives to increase visibility were the drivers of our strong volume performance in the period. In addition, the exports significantly surpassed our expectations with increased contribution to profitability. On top of a robust volume performance, our FX-neutral revenue/hl increased by 13.9% in the period, thanks to our focus on strict discount management and revenue management initiatives to drive value. In line with our disciplined financial policy and tight balance sheet management strategy, our leverage ratio stayed at a very healthy level as a result of close to TL 2 billion Free Cash Flow generated.” commented Mr. Can Çaka, Beer Group President and Anadolu Efes CEO.

I am also honored and pleased to share that Anadolu Efes delivered another landmark transaction, by issuing US$500,000,000, 7-year maturity Eurobonds, with a coupon rate of 3.375%, which will set a new benchmark for Turkish corporates in the coming years. We took the advantage of pursuing a very good transaction strategy and selecting a very good execution window, giving us the opportunity to ensure most optimal outcome and therefore, breaking our own record. I am also very happy with the outcome of the tender process where the result is the testimony of the investors’ appreciation of Anadolu Efes’ credit and their appetite to extend their maturity by participating in the new issue.

As Anadolu Efes, we see sustainability as the most crucial part of our long journey that all our employees and stakeholders must internalize and feel responsible for. Since day one, we have been prioritizing value creation across all strategic areas for the sustainable growth of our business. This year, we identified our Sustainability Goals for 2030 in line with the guidelines of United Nations Sustainable Development Goals to demonstrate our commitment to improve our ESG related practices. With the aim of reducing our footprint, our goal is to reach net zero carbon emissions in all our operations by 2030, while becoming a certified zero-waste company at the same time. In addition to these efforts, we will continue to invest in the societies we live in for a sustainable future by focusing on our social impact through supporting community projects and entrepreneurs. We are well aware that sustainable development depends on empowering women in business life, and we believe that equal opportunity makes us stronger. Along these ambitions, we aim to increase the representations of women in our organization from 30% to 51% by 2030. In addition, we will continue to raise awareness about gender equality including pay gap among all our employees and stakeholders.

We continue to invest behind our digital infrastructure by stepping up our investments in CIS operations. As we took important steps in our Turkish operation in terms of digital transformation, we initiated our program in Moldova as well, in order to have more lean and efficient processes from production to sales.

We remain cautious for the rest of the year, given the uncertainties lying ahead, considering the developments on pandemic and the increases in commodity costs. However, we are well equipped to meet our business goals with our strong brand portfolio, superior market execution capabilities, digital infrastructure and endless efforts of our employees. We will continue to brew joy, passionately and responsibly.