Philip Morris CR's AGM yesterday approved a gross dividend of CZK 1,240 per share out of its 2001 profit. The record date for the dividend is April 15 (changes in PMCR shares’ records in the Czech Securities Register was suspended between April 9 and April 15). PMCR will distribute the dividend as of May 3, 2002.
Philip Morris CR also reported its unconsolidated 2001 results yesterday, which were better than our expectations at all levels:
CZK mil. 2001A 2000A change
Sales 13,594 12,285 +11%
EBITDA 5,328 4,840 +10%
EBIT 4,885 4,406 +11%
Pretax income 5,007 4,381 +14%
Net income 3,407 3,220 +6%
The company says in the Annual Report that its sales rose mostly due to the 14% and 9% increases in domestic sales and in exports to Slovakia, respectively. PMCR’s market shares grew to almost 80% and 56% in the Czech Republic and Slovakia, respectively.