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Wimm-Bill-Dann Foods OJSC Q1 2010 Earnings Call Transcript

Wimm-Bill-Dann Foods OJSC (WBD)

Q1 2010 Earnings Call

June 3, 2010 9:00 AM ET

Executives

Marina Kagan – Head, Public Affairs

Tony Maher – Chairman and Chief Executive Officer

Dmitry Vladimirovich Ivanov – Chief Financial Officer

Analysts

Natasha Zagvozdina – Renaissance Capital

Daniel Wakerly – Morgan Stanley

Elena Mills – Alfa Bank

Victoria Sokolova – Troika Dialog Group

Victoria Petrova – Credit Suisse

Odile Broussy – Aton Capital

Tigran Hovhannisyan – MDM Bank

Presentation

Operator

Good morning. My name is Andrea, and I will be your conference operator today. At this time, I would like to welcome everyone to the Wimm-Bill-Dann Q1 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session. (Operator Instructions)

Thank you. Ms. Marina Kagan, you may begin.

Marina Kagan

Hello, ladies and gentlemen. And thank you for joining us to discuss the financial results of Wimm-Bill-Dann for the first quarter of 2010. As always, after our presentation, we will be happy to take your questions.

Before I hand the call over to our Chief Executive Officer, Tony Maher, I would ask that you please refer to the cautionary statements included in the press release covering any comments made during this conference call. Tony?

Tony Maher

Thanks Marina. Good afternoon to those of you joining us from Russia and Europe, and good morning to our participants from U.S. The first quarter was defined by three important themes, broad base growing demand, market share gains across nearly our entire portfolio, and raw milk prices.

On the first point, volumes were up across all of our segments, testing that we are seeing demand growth driven by improved consumer sentiment. This significant change from what we have seen over the past number of quarters.

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