Latest news with #AnadoluEfes
Yahoo
05-07-2025
- Sport
- Yahoo
Bucks' former guard signs contract with Serbian power
A former Milwaukee Bucks second-round pick is heading to a new club in Europe. Jordan Nwora was a second-round pick by the Bucks out of Louisville. A collegiate star, Nwora never quite had the same success with the Bucks or Pacers as he did with the Cardinals. Advertisement He already was a European player this past season, in Turkey for Anadolu Efes. Now, Nwora is on to a new adventure. He's joining Crvena Zvezda in Belgrade, Serbia, according to EuroHoops. MORE: A major update in LeBron James' trade talks from Lakers Nwora is now 26 years old. The Buffalo, N.Y. native is getting to see the very wide world of basketball that's out there after playing 206 NBA games. He averaged 15 points per game in league play for Anadolu Efes in 2024-25. They also played in the EuroLeague competition across the continent, in which Nwora put up 8.4 points per game. Nwora seems unlikely to ever make it back to the NBA. But he's got a chance at a long and successful hoops career in Europe. Advertisement MORE NBA NEWS:
Yahoo
02-07-2025
- Business
- Yahoo
Haus Cramer to brew Efes Pilsener in Germany
German drinks company Haus Cramer Group has struck a deal to produce the Efes Pilsener beer brand. HC Drinks Solutions, a division of Haus Cramer Group, confirmed a 'strategic partnership' with Efes Deutschland yesterday (1 July). HC Drinks Solutions, established in 2023 as Haus Cramer's services arm, specialises in contract production, packaging, bottling and warehousing. Efes Pilsener will be brewed at Haus Cramer's facility in the town of Warstein, with production set to begin in 'fall 2025', adhering to the original recipe. HC Drinks Solutions said the deal 'significant benefits' for wholesalers by "optimising logistics" and offering a "one-stop" solution. Efes Deutschland, part of Anadolu Efes since 2010, has been supplying German consumers with Efes beers for more than a decade. Just Drinks has asked Haus Cramer which company handled the brewing of Efes in Germany before this deal. In the statement, Adriano Leo, managing director of HC Drinks Solutions, described Efes Pilsener as a 'significant addition' to the company's portfolio. Daniel Barbulescu, market development director of Anadolu Efes, added: 'This partnership strengthens our position in the German market, allowing us to continue producing Efes Pilsener to the highest standards. It offers long-term planning security and creates ideal conditions for our growth in Europe and beyond.' In May last year, HC Drinks Solutions struck an agreement to produce Asahi Group Holdings' Tyskie beer brand at the Warstein facility. Last September, Haus Cramer announced the closure of its Thannhausen production site in Bavaria, affecting 18 employees. Last month, authorities in Russia again declined Anadolu Efes' proposal to buy Anheuser-Busch InBev's (AB InBev) stake in their joint venture. AB InBev and Anadolu Efes established AB InBev Efes in 2018. The JV combines both their Russian and Ukrainian businesses. In December 2023, AB InBev, known for Leffe, confirmed it would sell its 50% stake in the Russian joint venture to Anadolu Efes. However, Russian authorities blocked the transaction in August of the following year. Two months later, AB InBev and Anadolu Efes finalised a new agreement for the sale of its share in the Russian operations of their joint venture. In exchange, the Belgian brewer planned to acquire Anadolu Efes's stake in the Ukrainian side of the partnership. Moscow assumed control of the Russian segment of the joint venture in January. "Haus Cramer to brew Efes Pilsener in Germany" was originally created and published by Just Drinks, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
20-06-2025
- Business
- Yahoo
Russia again rejects Anadolu Efes proposal to buy out AB InBev from JV
Russian authorities have again declined Anadolu Efes' proposal to buy Anheuser-Busch InBev's (AB InBev) stake in their joint venture (JV). In a filing on Turkey's Central Securities Depository, Anadolu Efes said, 'pursuant to the notification made by the Russian regulatory authorities and considering the developments during the period, the relevant application has been rejected'. 'We are reviewing next steps with AB InBev,' it added. AB InBev and Anadolu Efes established AB InBev Efes in 2018. The JV combines both their Russian and Ukrainian businesses. The venture operates 11 breweries in Russia, producing beers under brands such as Klinskoe and Efes Pilsen. Following Russia's invasion of Ukraine, the Belgium-based brewer announced in April 2022 its intention to divest its stake in the joint venture and began negotiations with Anadolu Efes. In December 2023, AB InBev, known for Leffe, confirmed it would sell its 50% stake in the Russian joint venture to Anadolu Efes. However, Russian authorities blocked the transaction in August of the following year. Two months later, AB InBev and Anadolu Efes finalised a new agreement for the sale of its share in the Russian operations of their joint venture. In exchange, the Belgian brewer planned to acquire Anadolu Efes's stake in the Ukrainian side of the partnership. Moscow assumed control of the Russian segment of the joint venture in January. The Russian government transferred the local assets of AB InBev Efes to a group of companies called Vmeste under "temporary management", according to statements from both brewers at the time. In its first-quarter results for 2025, Anadolu Efes excluded its Russian beer operations from consolidated financials, classifying them as a 'financial investment' due to temporary external management. Announcing the results in May, Anadolu Efes CEO Onur Altürk said: 'Until we gain more clarity on the situation, the Russian operations will no longer be consolidated in our profit and loss statements. 'Our primary focus in Russia remains on navigating the current landscape with resilience, prioritising business continuity, and actively working to minimise potential disruptions.' While not audited or aligned with group results, key metrics were shared for context. The group's beer volumes in Russia rose 7.7% to 6.3 million hectolitres in the first quarter period, but net sales slipped 0.8% to Tl13.72bn ($345.7m) and gross profit dipped 1.2% to Tl5.91bn. EBITDA (BNRI) margin for the region fell 8% to Tl1.96bn, while EBIT (BNRI) jumped 68.4% to Tl2.46bn. Net income dropped by 78.9% to Tl389.9m. "Russia again rejects Anadolu Efes proposal to buy out AB InBev from JV " was originally created and published by Just Drinks, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
12-05-2025
- Business
- Yahoo
Anadolu Efes Biracilik ve Malt Sanayi AS (IST:AEFES) Q1 2025 Earnings Call Highlights: ...
Release Date: May 08, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Anadolu Efes Biracilik ve Malt Sanayi AS (IST:AEFES) reported a solid volume growth of 12% on a consolidated basis, driven by strong momentum in soft drink operations. The company has set a new vision to become the fastest growing beverage company with beloved brands, focusing on consumer satisfaction and community enrichment. Anadolu Efes is actively pursuing geographical expansion, reaching consumers in around 70 countries, and exploring local production partnerships in strategic markets. The company is diversifying its revenue streams by entering new business areas, such as the distilled spirits category in Turkey through a partnership with William Grant and Sons. Anadolu Efes is committed to sustainability, with half of its raw materials sourced from agriculture, and has concrete investment and action plans in place to support this initiative. The company's beer group volumes declined slightly by 0.7%, attributed to a high base from the previous year and economic challenges. Anadolu Efes faced a negative free cash flow due to seasonal working capital buildup and ongoing greenfield projects in soft drink operations. The company's net debt to EBITDA ratio stands at 2 times, indicating a relatively high level of leverage. The exclusion of Russian operations from consolidation has impacted the financial statements, with these operations now classified as financial investments. Anadolu Efes experienced a decline in beer group sales revenue by 9.6% on a pro forma basis, primarily due to currency depreciation and increased discounts in Turkey. Warning! GuruFocus has detected 6 Warning Signs with IST:AEFES. Q: Are you planning to provide guidance for beer group operations like revenue margins and CapEx in 2025? A: CEO Mr. Raluk stated that due to the unique situation in Russia, they will not provide specific guidance for 2025. However, they expect flat to modest market growth across operations, with a focus on outperforming the market in every geography. The CapEx spending ratio is approximately 7-8% of sales revenue, with variations across regions. Q: Can you explain the factors behind the relatively low net income in Russia despite generating significant EBITDA? A: CFO Mr. Ga Ashmay explained that the net income difference is primarily due to foreign currency-denominated cash holdings in Russia, which create FX losses impacting net income. Q: What is your strategy for geographical expansion and diversification into new industries? A: CEO Mr. Raluk emphasized their growth strategy includes enhancing brands and expanding product ranges. They are seeking geographical expansion opportunities, particularly in CIS countries, and are exploring potential investments in Azerbaijan, Uzbekistan, China, Belarus, and Central Asia. Q: What are your expectations for free cash flow and leverage by the end of 2025? A: CFO Mr. Ga Ashmay expects corrections from the current negative cash flow levels, aiming for flat cash flow by year-end. Leverage is expected to remain parallel to current levels. Q: How did the reclassification of Russian operations affect your financial statements? A: CFO Mr. Ga Ashmay noted that Russian operations are now classified as financial investments, impacting the income statement. The fair value of Russian operations was calculated at $1.3 billion, with half attributed to minority interests. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
