APU JSC reports 201 billion MNT in revenue

Beverage producer APU JSC reported net sales revenue of 201 billion MNT and profit of 33.7 billion MNT in the first half of 2018. The Tier-1 MSE-listed company presented its semi-annual financial and operational report to the public on August 8 at the Mongolian Stock Exchange (MSE).

In the first half of 2018, APU JSC and its 11 subsidiaries have achieved the following results compared to the same period of the previous year:

Net sales revenue rose by 85 percent reaching 201.0 billion MNT;

The number of product types increased by 66 percent;

Total debt decreased by 18 percent; Net profit doubled reaching 33.7 billion MNT

CEO of APU Ts.Erdenebileg underlined that such increases in sales revenue and net profit resulted from the company's merger with Evergreen Investments LLC, which took place in 2017 by the shareholders' decision and the company will further aim at improving profitability by paying off its foreign currency loan before its maturity in 2019 in addition to introducing new products to the market.

APU, a subsidiary of Shunkhlai Group, signed an agreement with Heineken in July 2017 to merge Mongolian Beverage Company (MBC) with APU. MBC is a beer and vodka company owned by Heineken and MCS. Heineken contributed its interests in MBC into a holding company, Evergreen Investments LLC, which will then merge with APU JSC. As part of the transaction, Shunkhlai Groupalso contributed its existing beer and vodka interests held outside of APU JSC into Evergreen. Heineken now holds a 25 percent stake in APU JSC, with Shunkhlai Group retaining majority ownership.

Outside of APU JSC, other Tier 1 listed companies are reporting their semi-annual financial and operational report at MSE, which is organizing a public reporting event of the Tier 1 listed companies within the framework of improving market transparency, promoting good governance practices and ensuring compliance of the listed companies. Other Tier 1 companies include Darkhan Nekhii, Gobi, Makhimpex, Mongolia Mortgage Corporation, Suu, and Talkh Chikher.

...CEO of APU Ts.Erdenebileg underlined that such increases in sales revenue and net profit resulted from the company’s merger with Evergreen

Investments LLC...

This year, some Tier 2 companies are joining in this event which is currently scheduled as follows: