Croatia's TDR cigarette sales volume drops 9% in 2014

Croatia's TDR cigarette sales volume drops 9% in 2014 Author: TDR. License: All rights reserved.

ZAGREB (Croatia), April 30 (SeeNews) - Cigarette sales of Croatian cigarette maker Tvornica Duhana Rovinj (TDR), part of diversified conglomerate Adris Grupa, fell 9% to 8.7 billion pieces last year, Adris Grupa said on Thursday.

A total of 67% of TDR's sales were achieved abroad, Adris Grupa said in a statement.

TDR recorded 1.37 billion kuna ($202.2 million/181 million euro) in total revenues last year while its operating profit amounted to 193 million kuna.

The company's market share in Croatia stood at 57% at the end of 2014. Its market shares in Bosnia and Serbia were 30% and 11%, respectively.

In April, Croatian media reported that Adris Grupa expects to close a deal for the sale of its tobacco unit by early July.

In January, Adris Grupa said its shareholders had approved plans to restructure the group's cigarette making unit that could see it exit the tobacco business. The decision was preceded by an analysis of the position of the tobacco unit and the risk of continuing to operate amid the extreme concentration of the global tobacco industry.

TDR, a vertically integrated organization consisting of five companies, markets its flagship brands Ronhill, Walter Wolf and York across Eastern, Central and Western Europe and the Middle East.

TDR also operates branch offices in Croatia, Bosnia and Herzegovina, Germany, Kosovo, Macedonia, Montenegro, Serbia, and Slovenia.

The company's plant in Kanfanar, close to the Adriatic town of Rovinj, has an annual production capacity of 20 billion cigarettes.

Adris Grupa also spans tourism, fish farming and insurance.

(1 euro=7.5693 Croatian kuna)

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