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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.

Sapporo Holdings Revises Consolidated Full-year Earnings Forecast

Sapporo Holdings expects its ordinary income and net income to be more than 30% higher than previous guidance for the fiscal year ended December 31, 2010, issued on November 30, 2010. The company has accordingly revised its consolidated earnings forecast as detailed below.
1) Revision of consolidated full-year earnings forecast for fiscal 2010 (January 1 – December 31, 2010) (millions of yen, except percentages and per-share data)

 Net sales

Operating income

Ordinary income

Net income

Net income per share (yen)

Previous forecast (A)

391,000

13,500

11,000

7,000

17.87

Current forecast (B)

389,200

15,400

14,300

10,700

27.32

Change (B - A)

(1,800)

1,900

3,300

3,700

 

Percent change

(0.5)%

14.1%

30.0%

52.9%

 

For reference: Fiscal 2009 results

387,534

12,895

10,725

4,535

11.57

2) Reason for revision
Sapporo Holdings expects ordinary income of 14.3 billion yen, exceeding previous guidance of 11.0 billion yen by 3.3 billion yen, and net income of 10.7 billion yen, exceeding previous guidance of 7.0 billion yen by 3.7 billion yen.
The company expects operating income to exceed its previous forecast by 1.9 billion yen, mainly due to concentration of resources on core brands in its Japanese Alcoholic Beverages Business as well as production cost reductions. Also buoyed by a positive contribution from equity in income of affiliates and a reduction in net financial loss, Sapporo Holdings consequently expects ordinary income and net income to exceed their previous forecasts.

Sapporo Holdings

3 Фев. 2011

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