The market share of the Tobacco Factory Rovinj (TDR) in Serbia has increased by 49 percent over the past three years and currently stands at nearly 10 percent. In 2009, TDR sold more than 1.6 billion cigarettes in Serbia and generated revenues of 20 million euros, according to a statement from TDR reporting on a press conference held today in Belgrade by TDR’s CEO Davor Tomašković.
At the beginning of this year, due to changes in legislation, tax burdens on tobacco products in Serbia were increased by 10 percent compared to 2009. Due to the new excise tax system, we expect a decrease in revenues this year, stated Tomašković. Prices and taxes are still far below the levels in EU countries, indicating a continuation of increased tax burdens on cigarettes in the future, Tomašković added. TDR is the leading cigarette manufacturer in Southeast Europe, with sales exceeding 12.5 billion cigarettes annually and annual revenues exceeding 250 million euros. It is also present in other European markets and is developing its sales network in the Middle and Far East countries. (H)
