Russian juice and dairy producer Wimm-Bill-Dann Foods has reported sales of US$592.4m for the nine-month period ending 30 September 2002, a 20.3% rise compared to the same period of last year.
Gross margins grew by 3.2% compared to the first nine months of 2001, made possible by the lower cost of raw milk and economies of scale. At the same time, there has been an anticipated growth in sales and distribution expenses.
Strong growth was demonstrated on the operating income level, at 8.7% year-on-year, and net income grew by 2.6% compared to the first nine months of 2001. EBITDA also demonstrated a positive trend, rising 11.1%.
Sales in Wimm-Bill-Dann’s dairy segment grew by 14.0% from $356.8m in first nine months of 2001 to $406.6m in the first nine months of 2002, which is primarily due to an enhanced regional presence along with natural growth of the segment, mostly through volume growth.
Sales in Wimm-Bill-Dann’s juice segment increased 36.9% from $135.7m in the first nine months of 2001 to $185.7m in the first nine months of 2002, primarily as a result of sales volume increases.