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4-2017

Global hop market

A local alternative to mass beer suggested by independent brewers has been successful and is now altering the global market. Beer is becoming more diversified, so transnational companies have to accept the new game rules and to switch focus to young and fast growing markets. All these processes increased the demand for aroma and bitter hop as well as their acreage expansion on two continents. However now there appeared a downward trend of alcohol consumption in the world, so even special sorts can soon turn to be sufficient. In this connection the dynamic American hop market is already facing some problems. EU hop producers have become more cautious, they are not racing to exceed the demand and look forward with more confidence, judging by the contract terms. 

Hop Market in Russia

Germany still dominates the Russian market, yet over the recent two years one has been able observe a continuous success of Czech hop suppliers. Their expansion and growing popularity of hops from the United States became the drivers of supplies growth in 2016 despite the preceding modest harvest crop in the EU, as well as the factor of relative stability in 2017. In this connection, in 2017, the ratio of the varieties continued to shift towards the aroma ones, and the supplies of Magnum hop and other alpha varieties were reduced. However, the import of bitter hop pellets is partially replaced by extracts, especially from the major beer manufacturers. Total volumes of alpha acid supplies, according to our estimation, decreased by approximately 5% and returned to the level of 2015. Barth Haas Group continues dominating the hop products market; HVG also increased its weight. At the same time, Morris Hanbury significantly reduced the supplies in 2017.

SABMiller Board Management Changes

SABMiller plc announces that Malcolm Wyman, Chief Financial Officer, has confirmed his intention to retire from the company at the end of August 2011, and he will stand down from the board at the forthcoming AGM on 21 July 2011.

Malcolm will be replaced by James ("Jamie") Wilson, currently Finance Director for SABMiller Europe. Jamie joined SABMiller in 2005 and has held a number of senior positions in the group, including Senior Vice President, Market Development and Strategy, Miller Brewing Company, USA; Managing Director, SABMiller Russia; and Managing Director for SABMiller's Central European businesses.

Jamie has 23 years of experience in the global beverage industry, having held a number of senior executive positions before joining SABMiller, notably Group Finance Director and Managing Director - Operations of Highland Distillers plc; Executive Chairman of Maxxium, the international drinks distribution business; Managing Director of Orpar SA, the parent company of Remy Cointreau; Strategy/Finance Director for Scottish Courage Ltd; and Strategy/Project Director for Scottish & Newcastle plc. He has a law degree from the University of Edinburgh, is a qualified chartered accountant and is a member of the Chartered Institute of Taxation.

Jamie becomes deputy Chief Financial Officer of SABMiller with immediate effect, but he will retain his responsibilities as Finance Director for SABMiller Europe until his replacement is appointed.

Malcolm Wyman leaves SABMiller after 25 years of service. He first joined The South African Breweries Ltd in 1986, after a successful career in investment banking in South Africa, and was appointed to the board as Group Corporate Finance Director in 1990. He transferred onto the board of South African Breweries plc upon its listing on the London Stock Exchange in 1999, and became Chief Financial Officer in 2001 with responsibility for the group's finance operations, corporate finance and development, and group strategy. Following his retirement, Malcolm will continue through a consulting arrangement with SABMiller, to provide advice and support to the company.

Graham Mackay, SABMiller group chief executive, commented:

"We owe Malcolm a deep debt of gratitude for the pivotal role he has played in SABMiller's transformation from a small regional business into a leading global brewer. He has made an outstanding contribution to the significant growth of the group through his leadership of our corporate finance activities, which included the transformational transactions with Miller Brewing Company in the US and the Bavaria Group in South America. He has brought a unique and insightful perspective to all of our financial activities.

"His extraordinary dedication, wisdom and good judgement, combined with an unfailing sense of humour and "steadiness under fire" will be greatly missed by me personally and all in the business.

"We all wish Malcolm and his wife Gill a long and happy retirement.

"In Jamie we are fortunate to gain an outstanding talent, with a considerable breadth of industry experience, acquired both within SABMiller and the wider alcohol beverage sector.

"He combines a unique operational, commercial and financial perspective with a proven track record in the business. I believe that his leadership will further enhance the commercial focus of the finance function, ensuring that we leverage value from the range of business capability initiatives that we are progressively implementing throughout the group."

4 May. 2011

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