Executive Summary 7

Business Environment ....8

Regional Food & Drink Business Environment Ratings .... 8

Table: CEE Food & Drink Ratings – Q308 11

Slovakia’s Food and Drink Business Environment Rating... 11

Global Food & Drink Business Environment Ratings . 13

SWOT Analysis . 14

Food And Drink 14

Slovakia Food And Drink Industry SWOT 14

Mass Grocery Retail ...... 15

Slovakia Mass Grocery Retail Industry SWOT .. 15

Macroeconomic Outlook ..... 16

Table: Slovakia Economic Activity .. 17

Food ......18

Industry Forecast Scenario . 18

Food Consumption ..... 18

Table: Food Consumption Indicators – Historical Data & Forecast 18

Confectionery.. 18

Table: Value/Volume Sales of Confectionery – Historical Data & Forecasts ... 19

Trade 19

Table: Food, Drink & Tobacco Trade Indicators (US$mn) . 19

Industry Developments .. 19

Market Overview .. 20

Food Consumption ..... 20

Main Players... 20

Confectionery.. 22

Canned Food .. 22

Trade 22

Agriculture. 22

Drink .....24

Industry Forecast Scenario . 24

Table: Alcoholic Drinks Indicators – Historical Data & Forecasts 24

Table: Hot Drinks Indicators – Historical Data & Forecas 25

Table: Soft Drinks Indicators – Historical Data & Forecas 25

Industry Developments .. 25

Market Overview .. 26

Agriculture At A Glance .29

Table: Slovakia Organic Agricultural Data 29

Table: Slovakia Agricultural Production Statistics ..... 29

Agricultural Commodity Price 30

Retail .....31

Industry Forecast Scenario . 31

Table: Mass Grocery Retail Sales By Format (US$bn) 32

Table: Grocery Retail Sales By Format – Historical Data And Forecasts . 32

Industry Developments . 32

Market Overview 33

Main Players... 34
Table: Structure Of Slovakia’s Mass Grocery Retail Market By Estimated Number Of Outlets 35
Table: Structure Of Slovakia’s Mass Grocery Retail Market – Sales Value By Format (US$bn) 35
Table: Average Value Per Outlet, 2007 .... 36
Competitive Landscape .37
Key Players. 37
Mass Grocery Retail ...... 37
Table: Key Players In Slovakia Mass Grocery Retail Sector 2007 37
Food And Drink 38
Table: Key Players: Slovakia Food & Drink Sector 2007 Estimates 38
Company Analysis ...... 39
Mass Grocery Retail ...... 39
Coop Jednota Slovensko sd ..... 39
Tesco Stores SR 40
Schwarz Group ..... 41
Food ... 42
Tauris AS ... 42
Drink ... 43
Heineken Slovensko AS .. 43
Deep US Recession Scenario ....44
Global Scenario 44
Table: World GDP Growth ..... 44
Table: US GDP Growth, Investment Growth, and Private Consumption Growth ...... 45
Table: Eurozone GDP Growth 46
Table: Asia, Excluding Japan, GDP Growth ..... 47
Table: China GDP Growth ..... 48
Table: Mexico GDP Growth ... 48
Table: Africa GDP Growth ..... 49
CEE Food & Drink Scenario 50
Table: Impact Of Deep Us Recession On Total Food Consumption (US$Bn) In Selected CEE Markets - Cumulative US$ Impact Over 5yr
Forecast Period 51
Appendix 53
Food & Drink Business Environment Ratings ....53
Ratings Methodology . 53
Ratings Overview 53
Ratings System ...... 53
Indicators... 53
Limits Of Potential Returns ..... 54
Risks To Realisation Of Potential Returns 55
Weighting... 56
Weighting... 56
BMI Food & Drink Industry Glossary ....57
Food & Drink . 57
Mass Grocery Retail .. 57
BMI Food & Drink Forecasting & Sourcing ...59
How We Generate Our Industry Forecasts .... 59
Sourcing ... 60