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3-2019

Russia: Positions of Brewing Companies

The review contains an analysis of interim performance of brewers in the first half of 2019. There are rather dynamic changes behind a modest industry growth. Baltika is again experiencing a stage of volumes and market share slid due to competition with AB InBev Efes. Because of the price competition and presence expansion in the modern trade company #2. has come close to the leading position. At the same time sales of Heineken Russia have continued growing which makes the premium part of the portfolio heavier. The market premiumization trend had been also confirmed by import brands. MBC and Zavod Trekhsosenskiy have been the most successful among federal market players. The market share of independent regional brewers and Ochakovo have continued falling as they are being squeezed out by the market leaders at their competitive fields.

Ukrainian beer market 2019: companies and brands

In 2019 beer production and market have been still fluctuating about zero point. However, the past season was successful for brewers judging by the sales profitability. The price mix has improved due to rapid general market premiumization, as well as its particular aspect, the growth of import beer sales. By the season end AB InBev Efes improved its positions considerably. It turned out that consumers had not forgot Efes brands that had to leave the market, but started to recover rapidly. Against the stagnating market that meant sales decline of other companies, in the first place Carlsberg Group that most of all beneficiated from Efes exiting the market. PPB turned out to be stable to branding activity of its competitor and Obolon kept the same volumes and at the moment it is the absolute leader of the economy segment. The share growth of independent producers took place thanks to leading craft breweries, that so far do not have a big market weight, but they are rapidly gaining it.

Brewing industry in Kazakhstan 2019

During the first half of 2019, the majority of Kazakh brewers made their contribution into positive dynamics. Yet it was companies of the lower division, not the two transnational leaders that raised their production and sales. The shares of draft beer and aluminum can which is rapidly squeezing glass bottle out of the market, have been growing. The price segmentation has remained stable despite the substantial rise of retail prices and fluctuations of brand market shares, while the borders between segments have become blurred. The main events in the industry have been: the announced revision of the beer excise policy, launch of BeerKhan brand in the strong beer segment, and most important – purchasing assets of Shymkentbeer by Arasan.

SINGAPORE: APB’s group revenue rises 20% in first nine month of 2011

Asia Pacific Breweries Ltd (APB) on Thursday announced a Group profit before interest and taxation (PBIT) of S$478.5 million for the nine-month period ended 30 June 2011. This represents a gain of 23% or S$91.1 million versus last year. Attributable net profit before exceptional items (APBE) gained S$38.4 million or 18% to S$250.6 million. Attributable net profit after exceptional items (ANP), further boosted by the exceptional gain from the divestment of interest in Kingway Brewery Holdings Ltd (Kingway Brewery) in May 2011, grew approximately 36% to S$286.8 million as compared to last year. Excluding translation differences, gestation loss,and the impact of acquisitions, and disposals,organic PBIT and APBE improved 24% and 14% respectively.

Group revenue for the nine months stood at S$2.24 billion, up 20% or S$370 million as compared with the same period a year ago.

Mr Roland Pirmez, Chief Executive Officer, APB said, “Improvements in Group PBIT, APBE and revenue were mainly due to stronger demand for our brands in Vietnam, Papua New Guinea and New Caledonia. We also recorded an exceptional income of S$36.3 million with the recent divestment of interest in Kingway Brewery that further contributed to our ANP growth of 36%.”

In addition to driving organic growth in its existing markets to improve its earnings profile, the Group made strategic investments to further expand its regional network in recent months. Forging ahead with its premium brand strategy in China, APB commissioned its 50%-owned greenfield brewery, in Guangzhou in May 2011. It also extended its presence in the South Pacific by acquiring a 97.69% interest in Solomon Breweries Limited in June 2011.

Operations Review (YTD)

South & South East Asia (Singapore, Export Markets, Malaysia, Indonesia and Sri Lanka)

Volume and PBIT for the region rose 25% and 37% respectively, boosted mainly by the acquisition of breweries in Indonesia in February 2010. Excluding the results from Indonesia from October 2010 to January 2011, PBIT grew 4%, driven by higher volumes in Singapore, Malaysia and Sri Lanka as well as improved margins in Indonesia.

Indochina (Vietnam, Cambodia and Laos) & Thailand

Volume for the region grew 18%, led by continued growth momentum in Vietnam. Increased marketing also lifted volumes in Cambodia and Laos.

PBIT grew 20%, underpinned by higher volume and better margins in Vietnam. Excluding translation losses that arise mainly from the 18% devaluation in the Vietnamese dong, PBIT grew organically by 41%.

North Asia (China and Mongolia)

PBIT for the region fell 15% to S$1.8 million. The region incurred higher gestation losses from the newly-commissioned brewery in Guangzhou while improved margins and volumes were reported in Mongolia.

Oceania (New Zealand, Papua New Guinea and New Caledonia)

Volume and PBIT for the region grew 10% and 27% respectively. The strong performance was mainly attributed to contributions from the newly acquired brewery in New Caledonia. Excluding the results from New Caledonia from October 2010 to January 2011, PBIT grew 20% due to higher volumes and improved margins in Papua New Guinea.

Corporate Office

Corporate office expenses were higher than same period last year mainly due to higher personnel expenses offset by higher royalty income and lower marketing expenditure.

Outlook

Rising inflation in our main markets compounded by the recent global economic uncertainties may dampen consumer demand.

Strengthening of the Singapore Dollar against regional currencies, particularly the Vietnamese Dong, will continue to adversely affect the reported financial results of the Group.

The company share price has further appreciated in the last three months, resulting in a higher provision for employee share-based expenses. Taking the current share price as a reference, additional provisions will be required for the last quarter of the financial year.

13 Авг. 2011

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