Pivnoe Delo
abbey-beer-icon

pivnoe-delo_logo5

Top articles

Journals

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.

Denmark. Royal Unibrew’s “positive earnings trend continues” in Q1 2011

Royal Unibrew reported its revenue — measured organically — declined in Q1 by just below 1% primarily because Easter is in Q2 in 2011, whereas in 2010 it was in Q1. In spite of the revenue development, the positive earnings trend in Royal Unibrew continued, and earnings before interest and tax (EBIT) increased by DKK 30 million to DKK 40 million. This is as expected. At the same time, EBIT margin went up in all group segments compared to 2010, which is primarily due to increased efficiency and lower expenses. Royal Unibrew expects to commence buying back shares for treasury for DKK 110 million immediately upon conclusion of the Annual General Meeting, it said. The outlook for 2011 is maintained.

“In light of the timing of Easter, we are content to have on the whole maintained our revenue while defending or winning market shares. And not least, we are pleased that, in spite of the revenue development, we have been able to continue improving our financial results. In Q1 we also finalised the agreement concerning the merger of Royal Unibrew Polska with Polish Van Pur, which is a significant step towards achieving the targeted position in Poland. All in all we have now realised the major structural changes of our business, which means that we can focus completely on developing our existing activities and on realising the strategic targets established for 2011?, says Henrik Brandt, CEO.

HIGHLIGHTS

•Generally market shares were won or defended on branded beer as well as soft and malt drinks.
•Net revenue declined by just below 5% to DKK 745 million. Adjusted for the sale of the Caribbean breweries and the Polish activities, the organic revenue decline was below 1%.
•EBITDA increased by DKK 12 million to DKK 76 million.
•Earnings before interest and tax (EBIT) increased by DKK 30 million from 2010 amounting to DKK 40 million.
•Profit before tax amounted to DKK 21 million compared to a loss of DKK 21 million in 2010.
•Free cash flow amounted to a negative DKK 28 million in Q1 2011 compared to a negative DKK 6 million in 2010.
•Net interest-bearing debt increased by DKK 45 million in the quarter to DKK 815 million.

OUTLOOK

Royal Unibrew maintains the outlook for 2011 as announced in March 2011 as follows:

•Net revenue: DKK 3,400-3,550 million
•EBITDA: DKK 575-625 million
•EBIT: DKK 435-485 million

4 мая. 2011

Advertising

pilsena_en
gea
sidel100x100
jg
portinox

Main topics

Exact matches only
Search in title
Search in content
Search in comments
Search in excerpt
Search in posts
Search in pages
Search in groups
Search in users
Search in forums
Filter by Custom Post Type
Filter by Categories
Home
Magazines
News
×