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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.

Highlights from financial information released by SABMiller

The fiscal year F12 (ending in March 12) is half complete. The driver of sales and earnings growth continues to be the strong developing market performance

Operational Highlights:

- Lager volumes increase 3% on an organic basis led by robust growth in Latin America, Africa and Asia

- Reported group revenue up 10%, with organic, constant currency revenue growth of 6%

- Reported EBITA up 10%, with organic, constant currency EBITA up 6%:

- Latin America EBITA1 up 16% reflecting good volume growth, positive mix and fixed cost efficiencies

- Europe EBITA1 down 6% constrained by challenging economic and market conditions

- North America EBITA1 down by 6% reflecting lower volumes and higher costs

- Africa EBITA1 up 23% benefiting from strong volume growth and price and mix benefits

- Asia EBITA1 up 29% reflecting higher profits in China

- South Africa Beverages EBITA1 up 8% driven by price and mix benefits

- Adjusted earnings up 11% and adjusted EPS up 11% to 103.3 US cents per share

- Continued improvement in free cash flow2, up 19% to US$1,479 million

23 Nov. 2011



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