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Central European Distribution's CEO Discusses Q1 2012 Results - Earnings Call Transcript

If you turn to the next page, if you look at the spirit pricing in Poland. As you see, we had the big increase in 2010. And then since 2010 and the first quarter, really, the January '11 was the last time we've really seen a large spirit move. We're currently pricing now in May around PLN 2.75 to PLN 2.80, so pretty much in line with what we saw in the second quarter. So really, no surprise here and really no earnings hits for 2012 compared to 2011 in terms of spirit pricing.

Next page is showing our market share in Poland. Again, it's a pretty similar chart to what we showed previously. We still have around 24% share. The big loser, as you see in the market, has been Pernod, and that's mainly as they, I think, are focused more on their import portfolio and a little bit less on their overall vodka portfolio. And of course, coming out of Stock, the market leader, a bit of share taken from us and Sobieski.

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