Full year EBITDA grew by 10.6%. At constant rates of exchange, full year EBITDA increased by 7.7%, exceeding our growth forecast of 6.2%.
Year-on-year market share continued to grow in most key markets including Russia, France, Italy and Turkey.
GFB shipment volume increased by 6.2% in the period of October-December 2010 compared to the same period of the prior year, while total shipment volume was virtually flat. The increase was driven by growth in the following markets: Russia, Italy, Taiwan and Turkey.
Core net sales excluding tax increased by 2.5% in the period of October-December 2010 at constant rates of exchange, while on a reported basis they decreased by 0.9%. In the same period, core net sales excluding tax per thousand cigarettes were US$24.4, an increase of 2.9% at constant rates of exchange.
South and West Europe: Total shipment volume grew by 2.4% in October-December (Jan-Dec 2010: -2.0%), and GFB shipments also grew by 3.0% (Jan-Dec 2010: -0.8%) compared to the same period of the prior year. This growth was driven by strong performances in Italy and France. Market share increased in most key markets including France, Italy and Spain.
North and Central Europe: Total shipment volume increased by 2.5% in October-December (Jan-Dec 2010: 3.1%). GFB shipments increased by 7.9% in October-December (Jan-Dec 2010: 9.7%). Market share grew in Poland and Sweden.
CIS+: GFB shipments increased by 4.2% in October-December (Jan-Dec 2010: 0.3%), driven by growth in Russia and Kazakhstan. While market contraction slowed in October-December, total shipment volume decreased by 5.1% (Jan-Dec 2010: -5.1%), with industry contraction in Ukraine and Romania. Market share increased in Russia and Ukraine.
Rest-of-the-World: Total shipment volume increased by 6.3% in October-December (Jan-Dec 2010: 4.0%) driven by growth in Turkey and Taiwan. GFB volume increased by 11.6% in October-December (Jan-Dec 2010: 7.3%). Market share increased in Turkey, Korea and Taiwan.