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WINE IN GREECE

Euromonitor International May 2012

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LIST OF CONTENTS AND TABLES


Headlines ..................................................................................................................................... 1 Trends .......................................................................................................................................... 1 Production, Imports and Exports .................................................................................................. 3 Competitive Landscape ................................................................................................................ 3 Prospects ..................................................................................................................................... 5 Category Data .............................................................................................................................. 6 Table 1 Table 2 Table 3 Table 4 Table 5 Table 6 Table 7 Table 8 Table 9 Table 10 Table 11 Table 12 Table 13 Table 14 Table 15 Table 16 Table 17 Table 18 Table 19 Table 20 Table 21 Table 22 Table 23 Table 24 Table 25 Table 26 Table 27 Table 28 Table 29 Table 30 Table 31 Table 32 Table 33 Sales of Wine by Category: Total Volume 2006-2011 .................................. 6 Sales of Wine by Category: Total Value 2006-2011 ..................................... 6 Sales of Wine by Category: % Total Volume Growth 2006-2011 ................. 7 Sales of Wine by Category: % Total Value Growth 2006-2011 .................... 7 Sales of Wine by On-trade vs Off-trade Split: Volume 2006-2011 ............... 7 Sales of Wine by On-trade vs Off-trade Split: Value 2006-2011 .................. 8 Sales of Wine by On-trade vs Off-trade Split: % Volume Growth 20062011 ............................................................................................................. 8 Sales of Wine by On-trade vs Off-trade Split: % Value Growth 20062011 ............................................................................................................. 8 Volume Sales of Still Red Wine by Price Segment 2006-2011 .................... 8 Volume Sales of Still White Wine by Price Segment 2006-2011 .................. 9 Volume Sales of Still Ros Wine by Price Segment 2006-2011 ................... 9 Volume Sales of Other Sparkling Wine by Price Segment 2006-2011 ......... 9 Sales of Still Red Wine by Grape/Varietal Type 2006-2011 ......................... 9 Sales of Still White Wine by Grape/Varietal Type 2006-2011 .................... 10 Sales of Still Ros Wine by Grape/Varietal Type 2006-2011 ..................... 10 Sales of Still Red Wine by Quality Classification 2006-2011 ...................... 10 Sales of Still White Wine by Quality Classification 2006-2011 ................... 10 Sales of Still Ros Wine by Quality Classification 2006-2011 .................... 11 Wine Production, Imports and Exports: Total Volume 2005-2010 .............. 11 Wine Imports by Country of Origin: Total Volume 2005-2010 .................... 11 Wine Imports by Country of Origin: Total Value 2005-2010 ....................... 12 Wine Exports by Country of Destination: Total Volume 2005-2010 ............ 12 Wine Exports by Country of Destination: Total Value 2005-2010............... 13 Company Shares of Still Light Grape Wine by National Brand Owner 2007-2011 .................................................................................................. 14 Company Shares of Still Light Grape Wine by Global Brand Owner 2007-2011 .................................................................................................. 14 Brand Shares of Still Light Grape Wine 2008-2011 .................................... 14 Company Shares of Champagne by National Brand Owner 20072011 ........................................................................................................... 15 Company Shares of Champagne by Global Brand Owner 2007-2011 ....... 15 Brand Shares of Champagne 2008-2011 ................................................... 16 Company Shares of Other Sparkling Wine by National Brand Owner 2007-2011 .................................................................................................. 16 Company Shares of Other Sparkling Wine by Global Brand Owner 2007-2011 .................................................................................................. 16 Brand Shares of Other Sparkling Wine 2008-2011 .................................... 16 Company Shares of Fortified Wine and Vermouth by National Brand Owner 2007-2011 ...................................................................................... 17

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II

Table 34 Table 35 Table 36 Table 37 Table 38 Table 39

Company Shares of Fortified Wine and Vermouth by Global Brand Owner 2007-2011 ...................................................................................... 17 Brand Shares of Fortified Wine and Vermouth 2008-2011 ......................... 18 Forecast Sales of Wine by Category: Total Volume 2011-2016 ................. 18 Forecast Sales of Wine by Category: Total Value 2011-2016 .................... 18 Forecast Sales of Wine by Category: % Total Volume Growth 20112016 ........................................................................................................... 19 Forecast Sales of Wine by Category: % Total Value Growth 20112016 ........................................................................................................... 19

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WINE IN GREECE
HEADLINES
Wine declines by 7% in total volume terms to reach 315 million litres in 2011 The economic downturn has a qualitative and quantitative impact on sales With just a -4% decline in total volume terms, other sparkling wine is the best performing segment in 2011 Average price of wine declines to EUR13 per litre as the penetration of economy wines increases With 10% volume share, Malamatinas, E, & Sons SA leads wine in 2011 Wine is expected to continue to witness a decline over the forecast period with a -3% CAGR in total volume terms

TRENDS
The economic downturn led to a decline in sales of wine. Consumers reduced spending in all non-commodity goods along and in this context wine sales were also affected. The category benefited to an extent from consumers trading down from spirits, yet at the same time the penetration of artisanal wine increased considerably in the expense of branded products, further contributing to the decline in sales. Sales in volume terms declined by 7% to reach 315 million litres in 2011. The decline was undoubtedly higher compared to the review period CAGR of -2%, given that the recession forced consumers to migrate to cheaper wines, switch to at-home consumption and at the same time reduce consumption of wine altogether. With a -3% volume growth rate, other sparkling wine was the best performing segment within wine in 2011. Sparkling wine still accounts for a very low base. The segment benefited to an extent from some consumers trading down from Champagne, but also from rising awareness, given that other sparkling wine is becoming increasingly available in the on-trade channel and gains popularity amongst female consumers. Champagne was considerably affected by the crisis. With the bulk of Champagne sales being tied to festive occasions, the fact that the economic crisis pushes the frequency of such occasions to a minimum, has a strong impact in sales. The target group of Champagne drinkers in Greece is mostly affluent consumers, while some middle class consumers used to also purchasing Champagne on a one-off basis for New Year's Eve or weddings. The latter has now traded down to other sparkling wine. Discounting was a key trend in 2010 in wine. Both manufacturers and retailers adopted extensive promotions in order to gain volume sales. In line with this, the average unit price did not increase despite the rise in VAT. The average price showed a decrease in off-trade in 2011 as a result of the increasing penetration of economy wines, migration to private label and the booming share of discounter chain Lidl that offers a wide range of wines at prices often below EUR3 per litre. On-trade prices remained stable given the reluctance of operators to increase prices in context of the crisis. The consecutive rises in special consumption tax that took place in 2010 did not affect wine, due to lower alcohol content and the fact that wine is classified as agricultural produce and therefore is subject to different legislation.

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The decline in tourism that took place in 2010 had an impact on sales of branded wines in the on-trade channel as tourists are a key consumer base. Overall, the on-trade channel was badly affected from restricted disposable incomes as Greek consumers reduced the frequency of their nights out, yet establishments that serve mainly wine were much less affected than bars and clubs where consumption of spirits dominates, and in this context ontrade sales of wine were less affected compared to spirits for instance. The off-trade channel certainly outperformed on-trade, given that although many consumers migrated to wine from other product types as a cheaper solution for their nights out, the frequency of nights out declined considerably resulting in overall steep declines in on-trade consumption. In the HoReCa channel, the key selection criterion regarding the wines which appear on the menu is the manufacturers selling price. Most entrepreneurs chase the lowest possible wholesale price, with their priority being the highest profit margins rather than offering quality wine to their clientele. Under this light, the penetration of unbranded wine, directly sold from small-scale producers, is very high through on-trade. While this trend has gradually changed, as more restaurants in urban areas are starting to pay more attention to quality, the economic climate seems to be favouring the expansion of unbranded wine again, as well as in the offtrade. It must be noted that unbranded wine accounts for 50% of total wine volume sales. The most popular varieties of still white wine in Greece are Moschofilero and Asirtiko, while in still red wine it is Ageioritiko and Xynomavro. Furthermore, Moschomavro and Roditis are two varieties which are showing an increasing trend. As consumers become jaded with the classic varieties, there is increasing demand for differentiated, novel varieties. The white wine varieties Malagouzia and Savvatiano are up and coming, while Greek producers also start to focus on differentiated varieties for exporting. As Greece is a member of the European Union, it has to comply with pan-European regulations for wine quality classification, which are divided into two major categories: VQPRD, French for quality wines produced in a determined region, and table wines. The superior category within table wines is Wines of Controlled Origin. Thus, in Greece there are two categories of VQPRD, Wines with Appellation of Superior Quality and wines with Appellation of Controlled Origin, which is only used for dessert wines. VQPRD wines are small and have potential for further increase, but have not shown any important increase so far. In 2010, the Greek Ministry of Rural Development and Food signed six agreements (totalling EUR1.5 million) with local companies, for the promotion of VQPRD and local wine in Canada, the US, Australia, China and Russia in 2010-2012. New world wines continued to hold minimal share in Greek wine. The Greek consumers are very loyal to locally-produced wine and not open to experimenting with imported products. With the exception of Champagne, where all products are imported, almost 98% of sales of the wine consumed in Greece come from local production. Chilean and Argentinean wines, fall mostly under the economy range in Greece and to that end they mostly compete with noname products and private label, rather posing a threat to domestic manufacturers. Cava and Prosecco still account for a fraction of sales of other sparkling wine, although Cair SA began to invest in imports of such product types. Greeks are not yet familiar with these products; hence large marketing investments are required in order for Cava or Prosecco to gain momentum. In line with cocooning trends, larger packs perform the best. In this context, there is certainly a migration away from the 750 ml bottles to 3 or 5 litre packs. BinB also gained share in line with its lower unit price, whereas single portions are also starting to gain popularity especially amongst single person households.

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Wine is widely consumed in Greece by both genders and different age groups. Branded wine mostly appeals to women and urban consumers, yet there is a strong wine culture in Greece with very high consumption rates of artisanal wine both in urban and rural areas. White and ros wine are mostly consumed over the summer months, whereas red wine gains ground in winter. Given the elongated summer season and high temperatures in the country for the biggest part of the year, ros and white are the most dynamic segments within still wine. Retsina accounts for 8% of all wine in Greece. Its penetration grew considerably over the last two years of the review period given its lower unit price in comparison to other types of white wine. Restaurants witnessed the highest decline in footfall within on-trade and this had an impact on wine sales, as wine and beer are the most widely consumed products in restaurants. Both in restaurants and Tsipouradika, a migration from branded to unbranded wine was strongly evidenced. A migration from high ranking restaurants to taverns was also evidenced in context of taverns being a cheaper option for dining out and this also affected the product mix in the category, because although high class restaurants offer more expensive wines, taverns promote domestic economy brands mainly, with no imported wines on their menus. The price of branded wine in restaurants is very high in comparison to unbranded, and given that profit margins are much higher in unbranded wines, not only consumers prefer it but even operators promote it more. In an average tavern, unbranded wine costs on average EUR6-8 per litre compared to EUR16-17 for branded. There is a high share of black market sales in unbranded wine.

PRODUCTION, IMPORTS AND EXPORTS


Due to the varied categorisation of the different wine types in Greece, production data was not available from the National Bureau of Statistics. Wine production in Greece increases every year and exports are becoming a key focus for many key players, yet the bulk of wine produced in Greece is still supplied domestically. Domestic wine continues to hold its dominant position in Greece. Imported wine however gained share in the supermarkets to account for 2% share of total wine sales in 2011 since in many cases its shelf-price is quite low, sometimes even lower than Greek wines.

COMPETITIVE LANDSCAPE
With 10% volume share Malamatinas, E, & Sons SA was the category leader in 2011. The company focuses primarily on Retsina which is an economy white wine type. Due to its low price, Retsina performed well over the past few years boosting the companys sales . Domestic brands continued to account for the bulk of sales in wine, yet the share of imported wines rose in line with their lower prices. However, the major threat for manufacturers comes from unbranded wines rather than imported products. Both in the off and on-trade channel the share of unbranded wine increased as consumers started to look for cheaper products. Although in previous years, branded wines performed very well, this was not the case in 2010, where consumers especially in the on-trade opted for artisanal products that were sold at considerably lower prices. With the penetration of black market sales being very high when it comes to artisanal wine, the impact on wine was very severe.

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Similarly to other fast-moving consumer goods, there was a considerable decline in advertising spend. Most players opt for below-the-line activities, especially reduced prices in order to encourage consumption through off-trade. In terms of marketing activities therefore, prices were in the spotlight, with discounting being a key form of marketing rather than advertising. Advertising though was never very developed in wine, with press advertisements being the key advertising form. During 2010, the key launch was the "Think Small Moschofilero Boutari. A premium and modern four pack (187ml x 4), for Mosxofilero the bestselling white Greek wine brand in the Boutaris portfolio. Think Small Moschofilero was launched in October 2010 and since then it has witnessed great success. It is designed for personal consumption either at-home or outside of the home environment. INO SA entered other sparkling wine in March 2011, with the brand Ino Bubbly. The brand targets a young audience aged 25 to 35 years, through youthful-looking packaging and low price, given that it is sold with a buy one get one free offer since it was launched. At the end of the review period, the brand was sold in Masoutis and Veropoulos and over the summer it also became available on-trade. Cair SA launched Cair Silk Rose Demi Sec and Cair Silk White Demi Sec in April 2011. Both are sparkling wines and their unique selling point in comparison to other Cair products is a more fruity flavour. The products are currently sold through specialist retailers and the company is arranging to place them in Sklavenitis and Alpha Beta Vasilopoulos as well within the summer of 2011. INO Sa redesigned the packaging of the 5 litre packs of the brand INOpoiimata. The rebranding took place in September 2010 and the aim was to make it more appealing to young people. Premium brands witnessed the steepest losses in share. Economy brands performed very well on the other hand, whereas another key trend in the wine competitive landscape was a loss of brand loyalty as financially-constrained consumers are becoming increasingly promodriven. The impact of the recession was less severe in super premium wines given that these appeal to wealthy consumers that regardless of the economic downturn and cuts in disposable incomes can still afford luxury purchases. Although sales of premium wines declined by over 30%, the super premium segment only witnessed an average 10% decline. Private label performed very well in wine, with its share growing by 9% in 2010. In 2011, the share of private label increased further. Lidl was among the best performing retailers given its wide wine portfolio and competitive prices. This rise in the share of Lidl contributed to positive growth of imported wine, given that Lidl sells mainly imported wines. Given the significant losses in share that Boutaris experienced after handing the distribution of its products to Karoulias, a specialised Wine & Spirits sales and distribution company, the company at the end of April 2011 put a halt to its commercial relationship with Karoulias and set up again its own distribution network. This was a significant development in Greek wine, given that Boutaris had fallen from the first position in rankings over the last two years of the review period and now it is likely to regain its lost share. Karoulias was the exclusive distributor of all Boutari and Cambas brands in Greece for the past two years (from May 2009 until April 2011). Since the beginning of May 2011, Boutari SA has set up its own independent marketing and sales departments and it is formulating and implementing a new aggressive commercial strategy and a number of customer-focused activities. Greek Wine Cellars D Kourtakis SA acquired the wine company Papatzimopoulos in March 2010. This marginally boosted the share of Kourtakis, yet given that Papatzimopoulos was not

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an important player in wine, the impact of the acquisition was minimal to the overall competitive positioning.

PROSPECTS
Wine producers are very pessimistic about the future, especially with regards to the on-trade channel. Uncertainty is widespread and most companies are reluctant to make investments. Small-scale producers are expected to suffer the most over the forecast period facing severe problems with fluidity. In this context, many will not cope with the pressure resulting in numerous players withdrawing from wine in the following years. Sales are expected to continue witnessing a decline over the forecast period with a total volume CAGR of 3%. The decline however will be more moderate in comparison to 2011, given that manufacturers hope that the decline will slow down following the sharp declines witnessed in the final two years of the review period. In 2010, two key distributors of alcoholic drinks, Santa Maura and Anthidis went bankrupt. As a result, many small-scale producers of wine were left without a distributor. This will lead to further acquisitions over the forecast period as these companies do not have strong distribution networks; they instead replied on distributors and now that these two main companies cannot represent them anymore, their distribution will be severely affected. The economic downturn is obviously the most significant threat to future growth. In a time of shrinking disposable income, branded wine is threatened by the increasing penetration of unbranded, artisanal products. It is thus of crucial importance that manufacturers sell at low prices, so that bottled, branded wine is not considered as an over-priced, luxury choice, hard to afford in a time of crisis. Unit prices are expected to decrease over the forecast period, as manufacturers (as well as on-trade entrepreneurs) will decrease their prices in order to retain volume sales. The entrance of many small producers present will also cause prices to decrease, while increasing penetration of cheap wine will further contribute to average price declines, along with offers and price-offs. The latter part of the review period witnessed the rise of many smaller wineries and smallscale manufacturers producing limited editions, usually of premium quality wine. According to industry experts, however, the rapid rise of such producers and their overall high numbers, along with the current economic recession, resulted in a burst bubble, leaving such producers exposed and unable to handle the harsh economic environment witnessed during the review period. A rise of mergers and acquisitions is expected over the forecast period for wine given the high presence of small-scale domestic manufacturers which will not be able to cope with the pressures of the economic crisis. Large companies were already looking for potential targets in order to expand their presence. The migration from specialist stores to supermarkets will continue over the forecast period, yet the best performing channel in terms of growth will be discounters. Lidl has invested in providing a wide range of cheap wines and in this context it is starting to steal share not just from specialists but supermarkets as well. Over the early part of the forecast period, other sparkling wine will gain the same momentum as Ursus did in the late 1990s. Sparkling wine is expected to find a great appeal amongst female urban consumers, particularly in on-trade and if companies invest in campaigns to familiarise consumers with it, the result is expected to be most satisfactory. Bacardi-Martini Hellas and Cair have both already invested in this segment, whereas it is also worth noting

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that the wines presence in supermarkets is also increasing substantially with ever more shelf space allocated to sparkling wines. Boutaris single portion of Moschofilero will perform well in line with cocooning trends and will find great appeal amongst single person households. The product provides an economy solution for those who want to have a glass of wine but not spend much. More manufacturers are expected to follow Boutaris example and introduce single portions in supermarkets. Ino Bubbly is expected to perform well given the overall trend for other sparkling wine, the buy one get one free promotion that makes the product affordable to a wider consumer base and its youthful positioning. Unlike Cair which targets an older consumer base, Ino is trying to reach the younger generation. Increasing numbers of companies will try to focus on their exporting activities in order to balance domestic losses. Germany and Australia are the most prominent targets given the high presence of Greek migrants and the UK is also slowly rising to top of the agenda in line with high presence of expatriates.

CATEGORY DATA
Table 1 million litres 2006 Fortified Wine and Vermouth - Dessert Wine - Port/Oporto - Vermouth Non-Grape Wine Sparkling Wine - Champagne - Other Sparkling Wine Still Light Grape Wine - Still Red Wine - Still Ros Wine - Still White Wine Wine
Source:

Sales of Wine by Category: Total Volume 2006-2011

2007 2.8 1.9 0.0 0.9 2.3 0.4 1.8 353.0 124.4 17.0 211.6 358.1

2008 2.9 2.0 0.0 0.9 2.3 0.4 1.8 360.4 126.6 17.6 216.2 365.6

2009 2.9 2.0 0.0 0.9 2.2 0.3 1.9 352.6 123.5 18.0 211.2 357.7

2010 2.7 1.8 0.0 0.9 2.1 0.2 1.8 333.3 116.0 17.5 199.8 338.0

2011 2.4 1.5 0.0 0.8 1.9 0.1 1.8 310.7 106.9 16.8 187.0 315.0

2.8 1.9 0.0 0.9 2.3 0.4 1.8 351.0 122.3 17.0 211.6 356.0

Euromonitor International from official statistics, trade associations, trade press, company research, store checks, trade interviews, trade sources

Table 2 EUR million

Sales of Wine by Category: Total Value 2006-2011

2006 Fortified Wine and Vermouth - Dessert Wine - Port/Oporto - Vermouth Non-Grape Wine Sparkling Wine - Champagne - Other Sparkling Wine 36.2 15.9 0.1 20.2 143.9 69.9 73.9

2007 36.7 16.2 0.1 20.4 145.9 71.9 74.0

2008 40.9 17.5 0.1 23.3 151.0 73.2 77.8

2009 41.3 17.6 0.1 23.6 134.1 54.0 80.2

2010 39.8 16.8 0.1 22.8 112.7 34.0 78.7

2011 36.6 15.1 0.1 21.4 99.1 23.4 75.7

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Still Light Grape Wine - Still Red Wine - Still Ros Wine - Still White Wine Wine
Source:

4,715.2 1,651.2 194.4 2,869.6 4,895.2

4,822.8 1,711.3 198.7 2,912.8 5,005.4

5,739.2 2,089.9 235.3 3,414.0 5,931.0

5,575.4 2,032.9 240.7 3,301.8 5,750.9

4,749.1 1,742.8 222.2 2,784.1 4,901.5

3,979.7 1,509.7 203.4 2,266.6 4,115.5

Euromonitor International from official statistics, trade associations, trade press, company research, store checks, trade interviews, trade sources

Table 3

Sales of Wine by Category: % Total Volume Growth 2006-2011

% total volume growth 2010/11 Fortified Wine and Vermouth - Dessert Wine - Port/Oporto - Vermouth Non-Grape Wine Sparkling Wine - Champagne - Other Sparkling Wine Still Light Grape Wine - Still Red Wine - Still Ros Wine - Still White Wine Wine
Source:

2006-11 CAGR -3.1 -4.0 -1.3 -1.4 -3.2 -20.1 -0.5 -2.4 -2.7 -0.3 -2.4 -2.4

2006/11 Total -14.8 -18.6 -6.3 -6.8 -15.1 -67.5 -2.5 -11.5 -12.6 -1.3 -11.6 -11.5

-10.4 -13.0 -4.0 -5.2 -6.2 -29.5 -3.7 -6.8 -7.9 -4.0 -6.4 -6.8

Euromonitor International from official statistics, trade associations, trade press, company research, store checks, trade interviews, trade sources

Table 4

Sales of Wine by Category: % Total Value Growth 2006-2011

% local currency, current value growth 2010/11 Fortified Wine and Vermouth - Dessert Wine - Port/Oporto - Vermouth Non-Grape Wine Sparkling Wine - Champagne - Other Sparkling Wine Still Light Grape Wine - Still Red Wine - Still Ros Wine - Still White Wine Wine
Source:

2006-11 CAGR 0.2 -1.1 0.8 1.2 -7.2 -19.7 0.5 -3.3 -1.8 0.9 -4.6 -3.4

2006/11 Total 1.2 -5.3 3.9 6.3 -31.1 -66.5 2.4 -15.6 -8.6 4.7 -21.0 -15.9

-7.9 -10.4 -3.2 -6.1 -12.0 -31.1 -3.7 -16.2 -13.4 -8.5 -18.6 -16.0

Euromonitor International from official statistics, trade associations, trade press, company research, store checks, trade interviews, trade sources

Table 5 million litres

Sales of Wine by On-trade vs Off-trade Split: Volume 2006-2011

2006

2007

2008

2009

2010

2011

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Off-trade On-trade Total


Source:

148.8 207.2 356.0

150.0 208.2 358.1

153.3 212.2 365.6

155.4 202.3 357.7

152.1 185.9 338.0

147.1 167.9 315.0

Euromonitor International from official statistics, trade associations, trade press, company research, store checks, trade interviews, trade sources

Table 6 EUR million

Sales of Wine by On-trade vs Off-trade Split: Value 2006-2011

2006 Off-trade On-trade Total


Source:

2007 1,185.0 3,820.4 5,005.4

2008 1,407.4 4,523.7 5,931.0

2009 1,435.0 4,315.9 5,750.9

2010 1,198.4 3,703.2 4,901.5

2011 1,048.1 3,067.4 4,115.5

1,159.6 3,735.6 4,895.2

Euromonitor International from official statistics, trade associations, trade press, company research, store checks, trade interviews, trade sources

Table 7 % volume growth

Sales of Wine by On-trade vs Off-trade Split: % Volume Growth 2006-2011

2010/11 Off-trade On-trade Total


Source:

2006-11 CAGR -0.2 -4.1 -2.4

2006/11 TOTAL -1.1 -19.0 -11.5

-3.3 -9.7 -6.8

Euromonitor International from official statistics, trade associations, trade press, company research, store checks, trade interviews, trade sources

Table 8

Sales of Wine by On-trade vs Off-trade Split: % Value Growth 2006-2011

% current value growth 2010/11 Off-trade On-trade Total


Source:

2006-11 CAGR -2.0 -3.9 -3.4

2006/11 TOTAL -9.6 -17.9 -15.9

-12.5 -17.2 -16.0

Euromonitor International from official statistics, trade associations, trade press, company research, store checks, trade interviews, trade sources

Table 9 % off-trade

Volume Sales of Still Red Wine by Price Segment 2006-2011

2006 Under EUR3.5 EUR3.51 to EUR5.5 EUR5.51 to EUR6.5 EUR6.51 to EUR8 EUR8.01 to EUR9.4 EUR9.41 to EUR11 EUR11.01 and above Total 2.7 6.0 6.5 19.9 22.3 24.6 18.0 100.0

2007 3.0 6.0 5.6 19.0 24.2 24.5 17.7 100.0

2008 3.0 6.2 5.0 18.0 24.0 25.0 18.8 100.0

2009 3.0 6.5 7.0 20.0 23.0 23.0 17.5 100.0

2010 3.0 7.5 9.0 21.0 22.0 21.0 16.5 100.0

2011 5.0 11.0 13.0 21.0 20.0 17.0 13.0 100.0

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Source:

Euromonitor International from official statistics, trade associations, trade press, company research, store checks, trade interviews, trade sources

Table 10 % off-trade

Volume Sales of Still White Wine by Price Segment 2006-2011

2006 Under EUR2.4 EUR2.41 to EUR3.5 EUR3.51 to EUR4.49 EUR4.5 to EUR5.49 EUR5.5 to EUR8.8 EUR8.81 and above Total
Source:

2007 5.3 21.0 21.5 15.0 19.5 17.7 100.0

2008 5.2 20.0 20.0 15.0 19.0 20.8 100.0

2009 6.0 21.5 21.0 16.0 17.2 18.3 100.0

2010 8.0 23.5 21.5 16.6 16.0 14.4 100.0

2011 12.0 26.0 27.0 17.0 12.0 6.0 100.0

5.2 23.0 21.5 15.0 18.6 16.7 100.0

Euromonitor International from official statistics, trade associations, trade press, company research, store checks, trade interviews, trade sources

Table 11 % off-trade

Volume Sales of Still Ros Wine by Price Segment 2006-2011

2006 Under EUR2.6 EUR2.61 to EUR3.8 EUR3.81 to EUR4.9 EUR4.91 to EUR5.9 EUR5.91 to EUR7.91 EUR8 to EUR9.99 EUR10 and above Total
Source:

2007 2.5 10.5 13.0 16.0 21.5 22.0 14.5 100.0

2008 2.2 10.0 13.0 14.7 22.0 23.8 14.3 100.0

2009 2.5 12.0 15.0 15.0 23.0 21.0 11.5 100.0

2010 3.0 14.0 17.0 16.0 24.0 17.0 9.0 100.0

2011 5.0 16.0 19.0 18.0 21.0 15.0 6.0 100.0

2.6 12.0 13.4 16.0 21.0 21.0 14.0 100.0

Euromonitor International from official statistics, trade associations, trade press, company research, store checks, trade interviews, trade sources

Table 12 % off-trade

Volume Sales of Other Sparkling Wine by Price Segment 2006-2011

2006 Under EUR6.5 EUR6.51 to EUR7.99 EUR8 to EUR9.99 EUR10 to EUR11 EUR11.01 to EUR12.99 EUR13 to EUR13.99 EUR14 and above Total
Source:

2007 2.0 9.0 19.9 15.4 18.5 24.0 11.2 100.0

2008 2.0 9.0 20.0 16.0 19.0 23.0 11.0 100.0

2009 2.0 9.0 20.0 16.0 19.0 23.0 11.0 100.0

2010 2.0 11.0 21.0 15.0 18.0 22.0 11.0 100.0

2011 3.0 14.0 24.0 15.0 16.0 20.0 8.0 100.0

3.0 9.1 19.2 14.5 17.6 25.0 11.6 100.0

Euromonitor International from official statistics, trade associations, trade press, company research, store checks, trade interviews, trade sources

Table 13 % total volume

Sales of Still Red Wine by Grape/Varietal Type 2006-2011

2006

2007

2008

2009

2010

2011

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10

Ageioritiko Merlot Moschomavro Roditis Shiraz/Syrah Xynomavro Others Total


Source:

18.2 2.1 11.5 2.0 2.9 18.2 45.1 100.0

18.3 2.0 11.3 2.2 2.5 18.1 45.6 100.0

18.2 2.0 11.4 2.5 2.0 18.1 45.8 100.0

18.2 2.0 11.4 2.8 2.0 18.1 45.5 100.0

18.1 2.0 11.4 3.0 2.0 18.0 45.5 100.0

18.0 2.4 11.0 3.0 2.6 18.0 45.0 100.0

Euromonitor International from official statistics, trade associations, trade press, company research, store checks, trade interviews, trade sources

Table 14 % total volume

Sales of Still White Wine by Grape/Varietal Type 2006-2011

2006 Asirtiko Malagouzia Moschofilero Savvatiano Others Total


Source:

2007 15.0 7.0 22.6 14.0 41.4 100.0

2008 15.0 7.2 22.6 12.2 43.0 100.0

2009 15.0 7.7 22.5 12.1 42.7 100.0

2010 15.7 8.0 22.5 12.0 41.8 100.0

2011 16.0 6.0 23.0 11.0 44.0 100.0

14.9 6.6 22.7 13.5 42.3 100.0

Euromonitor International from official statistics, trade associations, trade press, company research, store checks, trade interviews, trade sources

Table 15 % total volume

Sales of Still Ros Wine by Grape/Varietal Type 2006-2011

2006 Ageioritiko Moschomavro Xynomavro Others Total


Source:

2007 15.0 39.0 26.0 20.0 100.0

2008 14.0 40.0 27.4 18.6 100.0

2009 15.0 41.0 27.5 16.5 100.0

2010 15.0 42.2 27.4 15.4 100.0

2011 15.0 42.0 28.0 15.0 100.0

15.0 38.0 25.0 22.0 100.0

Euromonitor International from official statistics, trade associations, trade press, company research, store checks, trade interviews, trade sources

Table 16 % total volume

Sales of Still Red Wine by Quality Classification 2006-2011

2006 Table Wine VQPRD Total


Source:

2007 82.0 18.0 100.0

2008 81.8 18.2 100.0

2009 81.7 18.4 100.0

2010 81.5 18.5 100.0

2011 82.0 18.0 100.0

82.2 17.8 100.0

Euromonitor International from official statistics, trade associations, trade press, company research, store checks, trade interviews, trade sources

Table 17 % total volume

Sales of Still White Wine by Quality Classification 2006-2011

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2006 Table Wine VQPRD Total


Source:

2007 81.9 18.1 100.0

2008 81.8 18.2 100.0

2009 81.5 18.5 100.0

2010 81.2 18.8 100.0

2011 84.0 16.0 100.0

82.0 18.0 100.0

Euromonitor International from official statistics, trade associations, trade press, company research, store checks, trade interviews, trade sources

Table 18 % total volume

Sales of Still Ros Wine by Quality Classification 2006-2011

2006 Table Wine VQPRD Total


Source:

2007 95.5 4.5 100.0

2008 95.4 4.6 100.0

2009 95.4 4.6 100.0

2010 95.3 4.7 100.0

2011 97.0 3.0 100.0

95.6 4.4 100.0

Euromonitor International from official statistics, trade associations, trade press, company research, store checks, trade interviews, trade sources

Table 19 million litres

Wine Production, Imports and Exports: Total Volume 2005-2010

2005 Wine Exports Wine Imports Wine Production Wine Apparent consumption
Source: Note: GTIS, Euromonitor International - indicates data not available

2006 30.8 16.4 -

2007 30.0 19.0 -

2008 28.0 20.3 -

2009 26.9 18.7 -

2010 37.0 11.2 -

28.2 14.4 -

Table 20 million litres

Wine Imports by Country of Origin: Total Volume 2005-2010

2005 Wine Italy Wine France Wine Germany Wine Spain Wine Belgium Wine Chile Wine Cyprus Wine Moldova Wine Argentina Wine Netherlands Wine Bulgaria Wine Portugal Wine Romania Wine Czech Republic Wine Austria Wine Sweden Wine South Africa Wine New Zealand 9.5 1.4 1.1 0.8 0.1 0.1 1.0 0.1 0.0 0.0 0.0 0.1 0.1 0.1 0.0 0.0 0.0

2006 12.3 1.6 0.9 0.9 0.1 0.1 0.0 0.1 0.1 0.1 0.0 0.1 0.1 0.0 0.0 0.0 0.0

2007 9.9 1.9 0.7 4.1 0.0 0.1 1.6 0.0 0.1 0.1 0.1 0.1 0.0 0.0 0.0 0.0 0.0

2008 8.5 1.6 1.2 7.9 0.1 0.2 0.0 0.1 0.1 0.0 0.0 0.1 0.0 0.2 0.0 0.0 0.0 0.0

2009 12.5 1.5 1.0 2.3 0.1 0.2 0.1 0.1 0.1 0.0 0.0 0.1 0.1 0.1 0.0 0.0 0.0 0.0

2010 6.5 1.4 1.3 1.0 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0

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12

Wine Georgia Wine United Kingdom Wine China Wine Latvia Wine Ukraine Wine Belarus Wine Hungary Wine Others Wine Total
Source: Note: GTIS, Euromonitor International - indicates data not available

0.0 0.0 0.0 0.0 0.1 14.4

0.0 0.0 0.0 0.0 0.0 16.4

0.0 0.0 0.0 0.0 0.0 0.2 19.0

0.0 0.0 0.0 0.0 0.1 20.3

0.0 0.0 0.0 0.1 0.3 18.7

0.0 0.0 0.0 0.0 0.0 0.0 0.0 11.2

Table 21 EUR million

Wine Imports by Country of Origin: Total Value 2005-2010

2005 Wine Italy Wine France Wine Spain Wine Germany Wine Netherlands Wine US Wine Chile Wine Belgium Wine Portugal Wine Argentina Wine United Kingdom Wine Moldova Wine New Zealand Wine South Africa Wine Cyprus Wine Not Determin Extra EU Trade Wine Bulgaria Wine Austria Wine Romania Wine Sweden Wine Latvia Wine Australia Wine Georgia Wine Ukraine Wine Armenia Wine Others Wine Total
Source: Note: GTIS, Euromonitor International - indicates data not available

2006 12.5 12.4 1.8 2.1 0.4 0.1 0.2 0.2 0.7 0.2 0.1 0.1 0.0 0.1 0.1 0.0 0.0 0.1 0.2 0.0 0.1 0.0 0.0 0.0 0.0 31.4

2007 10.7 14.9 2.9 2.3 0.8 0.5 0.2 0.1 0.8 0.2 0.2 0.1 0.1 0.2 1.2 0.1 0.1 0.1 0.1 0.1 0.0 0.0 0.0 0.1 36.0

2008 12.3 15.7 5.1 2.5 0.6 0.1 0.5 0.2 0.6 0.2 0.4 0.1 0.2 0.2 0.3 0.1 0.1 0.1 0.1 0.1 0.0 0.0 0.0 0.0 0.3 39.9

2009 13.8 12.4 2.8 2.0 0.6 0.7 0.5 0.3 0.5 0.3 0.2 0.2 0.1 0.2 0.1 0.0 0.0 0.1 0.1 0.0 0.1 0.0 0.0 0.1 0.1 35.4

2010 11.2 9.5 3.2 1.9 0.7 0.6 0.5 0.5 0.3 0.2 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.1 29.8

9.3 10.3 1.9 2.0 0.2 0.1 0.3 0.1 0.7 0.1 0.1 0.1 0.0 0.2 1.7 0.0 0.0 0.1 0.1 0.2 0.1 0.0 0.0 0.1 0.0 0.1 27.6

Table 22 million litres

Wine Exports by Country of Destination: Total Volume 2005-2010

2005 Wine Germany Wine France Wine Italy Wine US 15.1 3.2 1.0 2.1

2006 13.3 4.7 4.0 2.0

2007 14.8 3.7 0.8 2.3

2008 14.1 3.4 0.1 2.1

2009 14.1 4.0 0.1 1.7

2010 20.0 3.4 3.4 2.0

Euromonitor International

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13

Wine Belgium Wine Russia Wine Canada Wine Netherlands Wine Cyprus Wine Poland Wine United Kingdom Wine Austria Wine Switzerland Wine Australia Wine Latvia Wine China Wine Sweden Wine Denmark Wine Czech Republic Wine Mexico Wine Spain Wine Finland Wine Albania Wine Hong Kong Wine Brazil Wine Others Wine Total
Source: Note: GTIS, Euromonitor International - indicates data not available

1.1 0.1 1.0 0.6 0.4 0.4 0.4 0.5 0.5 0.3 0.0 0.3 0.4 0.1 0.0 0.1 0.2 0.1 0.0 0.0 0.2 28.2

1.0 0.5 1.1 0.7 0.5 0.6 0.4 0.4 0.3 0.2 0.0 0.0 0.2 0.4 0.1 0.1 0.1 0.1 0.0 0.0 0.2 30.8

1.0 0.9 1.1 0.8 1.2 0.7 0.4 0.4 0.3 0.3 0.1 0.0 0.3 0.2 0.1 0.1 0.0 0.1 0.1 0.0 0.0 0.3 30.0

1.2 0.8 0.9 0.9 0.6 0.9 0.4 0.4 0.2 0.3 0.2 0.0 0.3 0.3 0.2 0.1 0.1 0.1 0.1 0.0 0.0 0.4 28.0

1.2 0.2 0.9 0.9 0.6 0.6 0.4 0.3 0.3 0.3 0.1 0.1 0.2 0.2 0.1 0.0 0.1 0.1 0.1 0.0 0.0 0.3 26.9

1.2 1.2 1.0 0.8 0.7 0.5 0.3 0.3 0.2 0.2 0.2 0.2 0.2 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 37.0

Table 23 EUR million

Wine Exports by Country of Destination: Total Value 2005-2010

2005 Wine Germany Wine US Wine France Wine Canada Wine Cyprus Wine Belgium Wine Netherlands Wine United Kingdom Wine Austria Wine Switzerland Wine Italy Wine Poland Wine Australia Wine China Wine Russia Wine Sweden Wine Denmark Wine Latvia Wine Finland Wine Hong Kong Wine Spain Wine Czech Republic Wine Brazil Wine Albania Wine Hungary Wine Others Wine Total 28.3 6.2 5.4 2.1 1.6 2.7 1.3 2.0 1.3 0.8 0.8 0.8 0.4 0.0 0.1 0.7 0.9 0.4 0.0 0.6 0.2 0.0 0.2 0.1 0.7 57.5

2006 24.0 6.4 7.1 2.6 1.7 2.4 1.2 1.7 1.1 0.7 2.4 0.9 0.3 0.0 0.3 0.5 0.9 0.0 0.2 0.0 0.4 0.2 0.0 0.2 0.1 0.7 56.0

2007 24.1 6.8 5.0 2.8 3.5 2.2 1.4 1.9 1.0 1.0 0.9 1.0 0.5 0.0 0.9 0.6 0.3 0.1 0.2 0.1 0.1 0.2 0.1 0.1 0.0 0.9 55.9

2008 26.7 6.7 5.5 2.4 2.3 3.1 1.8 1.6 1.3 0.7 0.2 1.2 0.5 0.1 1.0 0.9 0.7 0.2 0.3 0.0 0.1 0.4 0.1 0.2 0.1 1.3 59.6

2009 26.7 6.0 6.2 2.3 2.8 2.8 2.0 1.4 1.0 0.9 0.6 0.9 0.5 0.2 0.3 0.5 0.5 0.1 0.2 0.1 0.3 0.3 0.1 0.1 0.1 0.9 57.6

2010 26.3 6.6 5.4 3.0 2.5 2.4 1.7 1.4 1.0 0.8 0.8 0.8 0.5 0.5 0.5 0.4 0.4 0.3 0.3 0.3 0.2 0.2 0.2 0.2 0.2 0.7 57.3

Euromonitor International

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14

Source: Note:

GTIS, Euromonitor International - indicates data not available

Table 24

Company Shares of Still Light Grape Wine by National Brand Owner 20072011

% total volume Company Malamatinas, E, & Sons SA Tsantalis SA, E Boutaris, J, & Son Vinicultural SA Greek Wine Cellars D Kourtakis SA Other Private Label INO SA Alfa-Beta Vassilopoulos SA Domaine Hatzimichalis SA Peza Union Achaia Clauss Wine Co SA Cambas SA, Andrew Domaine Kosta Lazaridi SA Others Total
Source:

2007 9.1 8.5 12.4 6.3 4.4 4.0 3.1 5.8 4.1 3.7 2.6 0.2 35.7 100.0

2008 9.1 8.7 10.6 6.1 4.2 4.0 3.3 5.8 4.1 3.8 2.6 0.2 37.5 100.0

2009 9.3 8.7 8.6 6.2 4.0 4.2 4.0 5.5 4.2 3.7 2.7 0.2 38.8 100.0

2010 9.6 8.6 7.4 6.5 5.0 4.7 4.3 5.2 4.5 3.7 2.8 0.2 37.6 100.0

2011 10.0 8.0 7.0 6.5 6.0 5.0 4.8 4.7 4.5 3.4 2.4 0.2 37.4 100.0

Euromonitor International from official statistics, trade associations, trade press, company research, store checks, trade interviews, trade sources

Table 25 % total volume Company

Company Shares of Still Light Grape Wine by Global Brand Owner 2007-2011

2007 9.1 15.1 8.5 6.3 4.0 5.8 4.1 3.7 0.2 7.5 35.7 100.0

2008 9.1 13.2 8.7 6.1 4.0 5.8 4.1 3.8 0.2 7.5 37.5 100.0

2009 9.3 11.3 8.7 6.2 4.2 5.5 4.2 3.7 0.2 8.0 38.8 100.0

2010 9.6 10.1 8.6 6.5 4.7 5.2 4.5 3.7 0.2 9.3 37.6 100.0

2011 10.0 9.4 8.0 6.5 5.0 4.7 4.5 3.4 0.2 10.8 37.4 100.0

Malamatinas, E, & Sons SA Boutaris Group Tsantalis SA, E Greek Wine Cellars D Kourtakis SA Evoiki AS Domaine Hatzimichalis SA Peza Union Achaia Clauss Wine Co SA Domaine Kosta Lazaridi SA Private Label Others Total
Source:

Euromonitor International from official statistics, trade associations, trade press, company research, store checks, trade interviews, trade sources

Table 26

Brand Shares of Still Light Grape Wine 2008-2011

% total volume Brand (Global Brand Owner)

Company

2008

2009

2010

2011

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15

Retsina Malamatina Party's Wine, The Apelia INOpoiimata (Evoiki AS) Moshofilero (Boutaris Group) Rapsani Paradosiaka Cambas (Boutaris Group) Demestica Ageioritiko Boutari (Boutaris Group) Hatzimichalis Cabernet Sauvignon Ageioritiko Tsantali Kritikos (Boutaris Group) Makedoniko Chateau Julia Other Private Label (Private Label) AB (Private Label) Others Total
Source:

Malamatinas, E, & Sons SA Peza Union Greek Wine Cellars D Kourtakis SA INO SA Boutaris, J, & Son Vinicultural SA Tsantalis SA, E Cambas SA, Andrew Achaia Clauss Wine Co SA Boutaris, J, & Son Vinicultural SA Domaine Hatzimichalis SA Tsantalis SA, E Boutaris, J, & Son Vinicultural SA Tsantalis SA, E Domaine Kosta Lazaridi SA Other Private Label Alfa-Beta Vassilopoulos SA Others Total

9.1 4.1 3.7 2.5 5.0 3.1 2.6 1.9 2.0 1.9 1.0 0.6 0.4 0.1 4.2 3.3 54.4 100.0

9.3 4.2 3.8 2.6 3.6 3.0 2.7 1.8 1.8 1.8 1.0 0.5 0.4 0.1 4.0 4.0 55.4 100.0

9.6 4.5 3.9 2.9 3.0 2.8 2.8 1.7 1.7 1.7 1.0 0.4 0.4 0.1 5.0 4.3 54.1 100.0

10.0 4.5 3.6 3.0 3.0 2.6 2.4 1.6 1.6 1.5 1.0 0.4 0.4 0.1 6.0 4.8 53.4 100.0

Euromonitor International from official statistics, trade associations, trade press, company research, store checks, trade interviews, trade sources

Table 27 % total volume Company

Company Shares of Champagne by National Brand Owner 2007-2011

2007 58.7 8.7 10.6 22.1 100.0

2008 57.1 12.9 11.0 19.0 100.0

2009 68.6 11.5 9.0 10.9 100.0

2010 72.3 11.0 8.0 8.7 100.0

2011 71.0 10.5 7.8 10.7 100.0

Amvyx SA Diageo Hellas SA Pernod Ricard Hellas SA Allied Domecq SA Others Total
Source:

Euromonitor International from official statistics, trade associations, trade press, company research, store checks, trade interviews, trade sources

Table 28 % total volume Company

Company Shares of Champagne by Global Brand Owner 2007-2011

2007 67.4 10.6 22.1 100.0

2008 70.0 11.0 19.0 100.0

2009 80.1 9.0 10.9 100.0

2010 83.3 8.0 8.7 100.0

2011 81.5 7.8 10.7 100.0

LVMH Mot Hennessy Louis Vuitton SA Pernod Ricard Groupe Allied Domecq Plc Others Total
Source:

Euromonitor International from official statistics, trade associations, trade press, company research, store checks, trade interviews, trade sources

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16

Table 29

Brand Shares of Champagne 2008-2011

% total volume Brand (Global Brand Owner) Mot & Chandon (LVMH Mot Hennessy Louis Vuitton SA) Veuve Clicquot (LVMH Mot Hennessy Louis Vuitton SA) Mumm Cordon Rouge (Pernod Ricard Groupe) Dom Prignon (LVMH Mot Hennessy Louis Vuitton SA) Mumm Cordon Rouge (Allied Domecq Plc) Others Total
Source:

Company

2008

2009

2010

2011

Amvyx SA

51.5

64.3

68.0

67.0

Diageo Hellas SA

12.9

11.5

11.0

10.5

Pernod Ricard Hellas SA

11.0

9.0

8.0

7.8

Amvyx SA

5.5

4.3

4.3

4.0

Allied Domecq SA Others Total

19.0 100.0

10.9 100.0

8.7 100.0

10.7 100.0

Euromonitor International from official statistics, trade associations, trade press, company research, store checks, trade interviews, trade sources

Table 30

Company Shares of Other Sparkling Wine by National Brand Owner 20072011

% total volume Company Bacardi-Martini Hellas SA Cair SA Others Total


Source:

2007 17.4 19.1 63.5 100.0

2008 16.2 16.8 67.0 100.0

2009 19.1 15.9 64.9 100.0

2010 28.0 17.8 54.1 100.0

2011 29.7 19.1 51.2 100.0

Euromonitor International from official statistics, trade associations, trade press, company research, store checks, trade interviews, trade sources

Table 31 % total volume Company Bacardi & Co Ltd Cair SA Others Total
Source:

Company Shares of Other Sparkling Wine by Global Brand Owner 2007-2011

2007 17.4 19.1 63.5 100.0

2008 16.2 16.8 67.0 100.0

2009 19.1 15.9 64.9 100.0

2010 28.0 17.8 54.1 100.0

2011 29.7 19.1 51.2 100.0

Euromonitor International from official statistics, trade associations, trade press, company research, store checks, trade interviews, trade sources

Table 32

Brand Shares of Other Sparkling Wine 2008-2011

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17

% total volume Brand (Global Brand Owner) Martini (Bacardi & Co Ltd) Cair Others Total
Source:

Company

2008

2009

2010

2011

Bacardi-Martini Hellas SA Cair SA Others Total

16.2 16.8 67.0 100.0

19.1 15.9 64.9 100.0

28.0 17.8 54.1 100.0

29.7 19.1 51.2 100.0

Euromonitor International from official statistics, trade associations, trade press, company research, store checks, trade interviews, trade sources

Table 33

Company Shares of Fortified Wine and Vermouth by National Brand Owner 2007-2011

% total volume Company Bacardi-Martini Hellas SA Achaia Clauss Wine Co SA Union of Vinicultural Co-operatives of Samos Tsantalis SA, E Greek Wine Cellars D Kourtakis SA Cambas SA, Andrew Cair SA Mantis SA EPOM Mytilene Distillers' Union Ltd Others Total
Source:

2007 31.0 34.6 13.4 3.9 3.9 2.5 1.8 0.4 0.3 8.2 100.0

2008 30.6 35.0 13.5 3.9 4.0 2.5 1.8 0.4 0.3 8.1 100.0

2009 30.2 34.9 13.5 3.9 4.0 2.5 1.8 0.9 0.3 8.1 100.0

2010 31.5 34.0 13.1 3.9 3.9 2.5 1.8 0.7 0.3 8.5 100.0

2011 33.3 33.0 12.9 3.7 3.2 2.2 1.3 0.7 0.3 9.4 100.0

Euromonitor International from official statistics, trade associations, trade press, company research, store checks, trade interviews, trade sources

Table 34

Company Shares of Fortified Wine and Vermouth by Global Brand Owner 2007-2011

% total volume Company Bacardi & Co Ltd Achaia Clauss Wine Co SA Union of Vinicultural Co-operatives of Samos Tsantalis SA, E Greek Wine Cellars D Kourtakis SA Boutaris Group Cair SA Campari Milano SpA, Davide Sogrape - Vinhos de Portugal SA Others Total

2007 31.0 34.6 13.4 3.9 3.9 2.5 1.8 0.4 0.3 8.2 100.0

2008 30.6 35.0 13.5 3.9 4.0 2.5 1.8 0.4 0.3 8.1 100.0

2009 30.2 34.9 13.5 3.9 4.0 2.5 1.8 0.9 0.3 8.1 100.0

2010 31.5 34.0 13.1 3.9 3.9 2.5 1.8 0.7 0.3 8.5 100.0

2011 33.3 33.0 12.9 3.7 3.2 2.2 1.3 0.7 0.3 9.4 100.0

Euromonitor International

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18

Source:

Euromonitor International from official statistics, trade associations, trade press, company research, store checks, trade interviews, trade sources

Table 35

Brand Shares of Fortified Wine and Vermouth 2008-2011

% total volume Brand (Global Brand Owner) Martini (Bacardi & Co Ltd) Mavrodafni Achaia Clauss Samos vin Doux Mavrodafni Tsantalis Mavrodafni Kourtakis Mavrodafni Cambas (Boutaris Group) Muscat de Rhodes Cinzano (Campari Milano SpA, Davide) Sandeman Ruby Porto (Sogrape - Vinhos de Portugal SA) Others Total
Source:

Company

2008

2009

2010

2011

Bacardi-Martini Hellas SA Achaia Clauss Wine Co SA Union of Vinicultural Co-operatives of Samos Tsantalis SA, E Greek Wine Cellars D Kourtakis SA Cambas SA, Andrew Cair SA Mantis SA EPOM Mytilene Distillers' Union Ltd Others Total

30.6 35.0 13.5 3.9 4.0 2.5 1.8 0.4 0.3

30.2 34.9 13.5 3.9 4.0 2.5 1.8 0.9 0.3

31.5 34.0 13.1 3.9 3.9 2.5 1.8 0.7 0.3

33.3 33.0 12.9 3.7 3.2 2.2 1.3 0.7 0.3

8.1 100.0

8.1 100.0

8.5 100.0

9.4 100.0

Euromonitor International from official statistics, trade associations, trade press, company research, store checks, trade interviews, trade sources

Table 36 million litres

Forecast Sales of Wine by Category: Total Volume 2011-2016

2011 Fortified Wine and Vermouth - Dessert Wine - Port/Oporto - Vermouth Non-Grape Wine Sparkling Wine - Champagne - Other Sparkling Wine Still Light Grape Wine - Still Red Wine - Still Ros Wine - Still White Wine Wine
Source:

2012 2.2 1.4 0.0 0.8 1.9 0.1 1.7 296.2 101.3 16.3 178.6 300.3

2013 2.1 1.4 0.0 0.8 1.8 0.1 1.7 286.8 97.4 15.9 173.5 290.8

2014 2.1 1.3 0.0 0.8 1.8 0.1 1.7 280.7 95.0 15.6 170.0 284.6

2015 2.0 1.3 0.0 0.7 1.8 0.1 1.6 276.6 93.4 15.4 167.7 280.4

2016 2.0 1.2 0.0 0.7 1.7 0.1 1.6 273.3 92.1 15.3 165.9 277.0

2.4 1.5 0.0 0.8 1.9 0.1 1.8 310.7 106.9 16.8 187.0 315.0

Euromonitor International from trade associations, trade press, company research, trade interviews, trade sources

Table 37 EUR million

Forecast Sales of Wine by Category: Total Value 2011-2016

Euromonitor International

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Passport

19

2011 Fortified Wine and Vermouth - Dessert Wine - Port/Oporto - Vermouth Non-Grape Wine Sparkling Wine - Champagne - Other Sparkling Wine Still Light Grape Wine - Still Red Wine - Still Ros Wine - Still White Wine Wine
Source:

2012 34.1 13.9 0.1 20.1 94.2 21.2 73.1 3,578.9 1,360.9 188.8 2,029.3 3,707.3

2013 32.6 13.3 0.1 19.2 89.3 19.5 69.8 3,322.0 1,266.6 178.1 1,877.3 3,443.9

2014 31.5 12.8 0.1 18.5 85.3 18.2 67.2 3,150.7 1,209.0 171.2 1,770.5 3,267.5

2015 30.7 12.4 0.1 18.1 82.6 17.3 65.4 3,049.0 1,172.4 167.3 1,709.2 3,162.3

2016 30.2 12.2 0.1 17.9 82.2 16.8 65.3 2,972.8 1,142.9 165.3 1,664.6 3,085.1

36.6 15.1 0.1 21.4 99.1 23.4 75.7 3,979.7 1,509.7 203.4 2,266.6 4,115.5

Euromonitor International from trade associations, trade press, company research, trade interviews, trade sources

Table 38

Forecast Sales of Wine by Category: % Total Volume Growth 2011-2016

% total volume growth 2015/16 Fortified Wine and Vermouth - Dessert Wine - Port/Oporto - Vermouth Non-Grape Wine Sparkling Wine - Champagne - Other Sparkling Wine Still Light Grape Wine - Still Red Wine - Still Ros Wine - Still White Wine Wine
Source:

2011-16 CAGR -3.6 -4.2 -1.4 -2.5 -1.9 -5.5 -1.6 -2.5 -2.9 -1.8 -2.4 -2.5

2011/16 Total -16.7 -19.2 -6.6 -12.1 -9.2 -24.5 -8.0 -12.0 -13.9 -8.5 -11.3 -12.1

-2.0 -2.3 -0.3 -1.5 -0.3 -2.2 -0.1 -1.2 -1.4 -0.7 -1.1 -1.2

Euromonitor International from trade associations, trade press, company research, trade interviews, trade sources

Table 39

Forecast Sales of Wine by Category: % Total Value Growth 2011-2016

% local currency, constant value growth 2011-16 CAGR Fortified Wine and Vermouth - Dessert Wine - Port/Oporto - Vermouth Non-Grape Wine Sparkling Wine - Champagne - Other Sparkling Wine Still Light Grape Wine - Still Red Wine - Still Ros Wine - Still White Wine -3.8 -4.2 -2.1 -3.6 -3.7 -6.4 -2.9 -5.7 -5.4 -4.1 -6.0 2011/16 TOTAL -17.7 -19.2 -9.9 -16.6 -17.1 -28.1 -13.7 -25.3 -24.3 -18.7 -26.6

Euromonitor International

W INE IN GREECE

Passport

20

Wine
Source:

-5.6
Euromonitor International from trade associations, trade press, company research, trade interviews, trade sources

-25.0

Euromonitor International