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Slovenia Food and Drink Report Q3 2011
Business Monitor International, May 2011, Pages: 87
Slovenia continues to be viewed as a stable, yet not entirely enticing, target for food and drinks manufacturers. In our proprietary Business Environment Rating (BER) matrix for Q311, the country again ranks seventh out of the 15 key markets surveyed in the Emerging Europe region, a position it has held for a number of quarters. Market maturity and modest population numbers are some of the key barriers to longer-term growth in food consumption values. In the shorter term, Slovenia’s economic performance will remain lacklustre, which will impact consumer confidence and marginalise premium items in consumers’ shopping baskets, for the short term at least.
Headline Industry Data (local currency)
- 2011 per capita food consumption: +1.16%; forecast to 2015: +7.50%
- 2011 alcoholic drinks sales: +1.74%; forecast to 2015: +18.04%
- 2011 soft drinks sales: +1.88%; forecast to 2015: +10.90%
- 2011 mass grocery retail sales: +4.95%; forecast to 2015: +28.77%
Key Company Trends
Slovenian Beer Finds Receptive Audience In China – Having sent its first shipment of beer to China in January 2011, the leading Slovenian brewer is dispatching a further 2,380 hectolitres to its new export market. Pivovarna Laško’s flagship brands – Laško Light, Laško Club and Laško Zlatorog – have reportedly found a receptive audience in China. We expect export activity to increase, as the brewer attempts to diversify geographically and become less reliant on its flagging domestic market. Slovenian Mass Grocery Retailer (MGR) Tus Exiting Serbia – According to Balkan Business News reports, Slovenian retailer Tus Holding sold its outlets in Serbia to Croatian Agrokor-owned Idea, for an undisclosed sum. Idea has retained all employees in the six outlets. Tus Holding has thus completely exited Serbia, having taken the decision in order to deal with the debts of its Tus retail chain to suppliers and banks in Slovenia. Tus is also rumoured to be undergoing a restructuring plan, according to Slovenia Times, as part of this divestment and loan repayment delay deal.
Key Risks to Outlook
Both Up And Downside Risks Associated With The Performance Of The Eurozone – In the short term, the Slovenian economic recovery will remain subdued, with domestic demand still struggling due to the unfavourable labour situation, among other factors. Exports will be the one bright spot, with a continuation of the recovery in the wider eurozone helping to lift the Slovenian external sector. We maintain that risks are broadly balanced on both the up and the downsides.
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