CRT026736 Project SUN COMBINED v10 - page 8

8
EUROPEAN MARKET OVERVIEW
Many of the countries with the highest C&C consumption are in the eastern
EU, bordering with cheaper priced non-EU countries
C&C consumption as a percentage of overall consumption 2014
(1)
Top 10 C&C countries by volume, 2014
(1)
Source: (1) KPMG EU Flows Model 2014
Andorra
France
Belgium
Lux.
Neth.
Spain
Portugal
United Kingdom
Ireland
Denmark
Switzerland
Germany
Austria
Czech Rep.
Poland
Slovakia
Hungary
Slovenia
Croatia
Bosnia
and
Herz.
Romania
Ukraine
Moldova
Bulgaria
Albania
Montenegro
Turkey
Cyprus
Italy
Norway
Sweden
Finland
Estonia
Latvia
Lithuania
Russia
Belarus
Russia
Kazakhstan
Georgia
Armenia
Azerbaijan
Ira
Iraq
Syria
Lebanon
Israel Jordan
Saudi Arabia
Egypt
Libya
Tunisia
Algeria
Morocco
Serbia
Macedonia
Greece
Malta
noitpmusnoC C&C :yeK
Over 20%
15-20%
10-15%
5-10%
0-5%
Not part of study
The
Baltic countries
have historically had
the highest levels of
C&C as a proportion of
total consumption
The majority of
Polish C&C is
accounted for by
flows from Belarus
which has much
lower prices
Norway
is the most
expensive market in
Europe with high C&C
C&C was low in
countries where
price gaps narrowed
in 2014
Increases of C&C in
Greece
were heavily impacted by
IllicitWhites brand flows
PROJECT SUN
EXECUTIVE SUMMARY
Key: C&C Consumption
Over 20%
15-20%
10-15%
5-10%
0-5%
Not part of study
0
6
4
2
8
10
Lithuania
Bulgaria
Spain
Romania
UK
Germany
France
8.89
8.15
8.15
6.29
8.156.14
8.15
4.43
8.15 4.42
8.154.06
8.15 3.80
8.15
2.50
8.15
1.06
8.15
C&C Billion cigarettes
Greece
Poland
Italy
© 2015 KPMG LLP, a UK limited liability partnership, and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative, a Swiss entity.
France
had the highest volume
of C&C in Europe with volumes
growing fromAlgeria
1,2,3,4,5,6,7 9,10,11,12,13,14,15,16,17,18,...336
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