Vitanta Beer Sales Grow 26% in Q'1 - 2001; Beer Consumption in Moldova to Continue Increasing

Apr 16, 2001, 01:00 ET from Vitanta Intravest

    CHISINAU, Moldova, April 16 /PRNewswire/ -- Sales volume during the first
 quarter of 2001 grew 26% at Moldova's leading brewery "Vitanta Intravest"
 company executives reported.  "The sales volume increase is attributed to
 improving economic and market conditions in the region and the company's
 position as the leader in Moldova's growing beer industry," Vitanta Director
 General Jacob Tichman said.
     "Our premium brand Vitanta Premium led company sales volume growth and
 reached a 55% increase during the first quarter of 2001 compared to the same
 period one year ago," Tichman reported.  "Since last summer, Vitanta Premium
 represents every second bottle of premium beer sold in Moldova, including
 imports," Tichman said.
     Vitanta Premium is one of several brands owned and marketed by the
 Moldova-based joint stock company "Vitanta Intravest."  Sales volumes at the
 brewery grew 25% last year with an increase of 17-20% in sales forecast for
 2001.  During the previous year, both gross profits and operating margins at
 the brewery were a healthy 43 and 17 per cent respectively.
     "We are very pleased with Vitanta's sales growth and profitability," said
 Natalie Jaresko, Chairman and CEO of the Western NIS Enterprise Fund (WNISEF)
 -- which has a controlling stake in the brewery.  "The improving economy and
 Vitanta's position in the market poise it for future success," Jaresko
 continued.  WNISEF is an early-stage venture capital fund investing in small
 and medium-sized enterprises in Moldova and Ukraine.  The Fund's portfolio
 companies represent the best companies in the fastest growing sectors of these
 emerging markets.
     After launching an extensive promotional campaign last year, Vitanta
 Premium reached a dominant position in the market for higher-end beer and the
 brewery expects this position to be strengthened in the near future.
     Vitanta Premium has been recognized internationally as a high-end quality
 brand beer.  This year it won the sole gold metal in the high-end brand
 category from the St. Petersburg International Beer Fair, competing with other
 brands from Germany, Italy, Spain, Turkey, Russia and Ukraine.  Vitanta
 Intravest Brewmaster Ludmilla Carpusi created Vitanta Premium for which she
 was awarded one of three medals for outstanding contributions and innovation
 to the brewing industry.
     Vitanta management forecasts continued sales growth throughout the year.
 "We are continuously improving the quality of our beer through upgrades and
 new ingredients," Vitanta's Sales and Marketing Director Camelia Birzanu said.
 Vitanta began implementing the Recommended Sale Price (RSP) system aimed at
 achieving uniform pricing of its products within specific distribution
 channels.  Innovations such as these are keys to Vitanta's market growth and
 ability to sustain a competitive market edge.
     "We are reinvesting our resources and replacing production facilities such
 as pasteurization units and making capital improvements to the brewhouse to
 keep up with growing consumer demand," Birzanu said.
     Beer consumption in Moldova is forecast to reach 11 liters per capita in
 2001, its highest level since the country gained independence in 1991.  For
 the first time in almost a decade Moldova posted a 1.9% increase in GDP last
 year and expects continued growth in 2001.  A country of 4 million, Moldova is
 located between Ukraine and Romania.
 
 

SOURCE Vitanta Intravest
    CHISINAU, Moldova, April 16 /PRNewswire/ -- Sales volume during the first
 quarter of 2001 grew 26% at Moldova's leading brewery "Vitanta Intravest"
 company executives reported.  "The sales volume increase is attributed to
 improving economic and market conditions in the region and the company's
 position as the leader in Moldova's growing beer industry," Vitanta Director
 General Jacob Tichman said.
     "Our premium brand Vitanta Premium led company sales volume growth and
 reached a 55% increase during the first quarter of 2001 compared to the same
 period one year ago," Tichman reported.  "Since last summer, Vitanta Premium
 represents every second bottle of premium beer sold in Moldova, including
 imports," Tichman said.
     Vitanta Premium is one of several brands owned and marketed by the
 Moldova-based joint stock company "Vitanta Intravest."  Sales volumes at the
 brewery grew 25% last year with an increase of 17-20% in sales forecast for
 2001.  During the previous year, both gross profits and operating margins at
 the brewery were a healthy 43 and 17 per cent respectively.
     "We are very pleased with Vitanta's sales growth and profitability," said
 Natalie Jaresko, Chairman and CEO of the Western NIS Enterprise Fund (WNISEF)
 -- which has a controlling stake in the brewery.  "The improving economy and
 Vitanta's position in the market poise it for future success," Jaresko
 continued.  WNISEF is an early-stage venture capital fund investing in small
 and medium-sized enterprises in Moldova and Ukraine.  The Fund's portfolio
 companies represent the best companies in the fastest growing sectors of these
 emerging markets.
     After launching an extensive promotional campaign last year, Vitanta
 Premium reached a dominant position in the market for higher-end beer and the
 brewery expects this position to be strengthened in the near future.
     Vitanta Premium has been recognized internationally as a high-end quality
 brand beer.  This year it won the sole gold metal in the high-end brand
 category from the St. Petersburg International Beer Fair, competing with other
 brands from Germany, Italy, Spain, Turkey, Russia and Ukraine.  Vitanta
 Intravest Brewmaster Ludmilla Carpusi created Vitanta Premium for which she
 was awarded one of three medals for outstanding contributions and innovation
 to the brewing industry.
     Vitanta management forecasts continued sales growth throughout the year.
 "We are continuously improving the quality of our beer through upgrades and
 new ingredients," Vitanta's Sales and Marketing Director Camelia Birzanu said.
 Vitanta began implementing the Recommended Sale Price (RSP) system aimed at
 achieving uniform pricing of its products within specific distribution
 channels.  Innovations such as these are keys to Vitanta's market growth and
 ability to sustain a competitive market edge.
     "We are reinvesting our resources and replacing production facilities such
 as pasteurization units and making capital improvements to the brewhouse to
 keep up with growing consumer demand," Birzanu said.
     Beer consumption in Moldova is forecast to reach 11 liters per capita in
 2001, its highest level since the country gained independence in 1991.  For
 the first time in almost a decade Moldova posted a 1.9% increase in GDP last
 year and expects continued growth in 2001.  A country of 4 million, Moldova is
 located between Ukraine and Romania.
 
 SOURCE  Vitanta Intravest