Highlights (change versus prior year)
Year-on-year market share continued to grow in most key markets including France, Italy, Spain, Taiwan, Turkey, and the UK. In Russia, share of value and GFB share of market continued to increase.
July-September 2013
Core revenue at constant rates of exchange grew 5.7% driven by strong price/mix, compensating for the volume decline.
Core revenue on a reported basis grew 3.3%.
Total and GFB shipment volume declined 5.1% and 1.8%, respectively, due to significant industry contraction in several key markets. Fine cut volume grew 23.4%.
January-September 2013
Adjusted EBITDA at constant rates of exchange grew 11.1% driven by solid revenue growth.
Core revenue at constant rates of exchange increased 4.6% driven by strong price/mix.
Core revenue on a reported basis grew 2.4%.
Total and GFB shipment volume declined 5.1% and 2.1%, respectively. This was mainly due to continued industry contraction and trade inventory adjustments in a number of markets. Fine cut volume increased 27.6%.