Slavutych swings to loss of UAH 293 mln in 2008

Slavutych Brewery (SLAV) posted a net loss of UAH 293 mln in 2008, down from a profit of UAH 43 mln in 2007, said Carlsberg Ukraine Financial Director Alexander Govyadin at a press conference yesterday. Govyadin attributed the changed to losses on hard currency loans as a result of currency depreciation. According to Govyadin, Slavutych’s 2008 operating profit grew 12% yoy to UAH 127 mln, EBITDA by 26% yoy to UAH 297 mln, and net proceeds from sales by 44% to UAH 2.28 bln. Govyadin said the company increased its share of the domestic market by 3.3% over 2008 to 23.7% in terms of sales.