Analysis of beer market in China (on Russian)
Beer market of Ukraine: big three losing weightIn 2016, fast increase of excises and resulting price spike stood in the way of the beer market stabilization. Most of competition (as well as mass sorts) moved to the economy segment of the market. The biggest losses were incurred by the leading three, especially Obolon, which again experienced pressure after reallocation of Efes market share. However, one should already speak of TOP-4. Group Oasis CIS (PPB) became a strong player and competitor to transnational companies. Besides the net sales of many regional medium breweries look rather good and 16-fold cost reduction wholesale trade license for craft brewers opens up a possibility of rapid growth in 2017.
Analysis of beer market in China
China’s transition to a “new normal” reality backfired on the brewing industry unexpectedly. Stagnation and subsequent market decline resulted from dynamic social and economic changes. There has emerged a “two speed” market where the medium class significance is growing, yet the share of main beer consumers, “blue collar” is decreasing. Also the inflow of consumers is shrinking, as demographics stopped being a growth driver. Finally, beer is giving way to other alcohol drinks....
India. United Breweries: Q4 numbers to be impressive
IIFL estimates that the company’s net profit is expected to surge to Rs. 73 crore, at a rate of 52.1% yoy and 1.4% qoq.
As per IIFL’s forecast, the company’s net revenue for Q4 FY16 is likely to soar to Rs. 1,217 crore, at a rate of 4.7% yoy and 5.1% qoq.
Operating Profit Margin is likely to be at 14.1%, with a yoy rise of 363 bps.
Our preview coverage universe of 374 companies, representing ~75% of India’s equity market cap is expected to report 4.2% yoy drop in net profit in Q4 FY16. On a qoq basis, profits will rise by 17% on account of low base of preceding two quarters, which had witnessed sequential PAT declines.
Other key quarterly results on May 13 include Advanta, AkzoNobel India, Allahabad Bank, Bank of Baroda, Bayer CropScience, Capital First, Cadila Healthcare, IL& FS Transportation, La Opala RG, Poly Medicure, Taj GVK, Sona Koyo Steering, and Union Bank of India.
13 May. 2016