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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.

Heineken and Efes unwind their partnerships in Kazakhstan and Serbia

Heineken N.V. (‘Heineken’) today announced that Heineken and Efes Breweries International N.V. (‘EBI’), a wholly-owned subsidiary of Anadolu Efes, agreed to unwind their partnerships in Kazakhstan and Serbia:

Heineken will sell its 28% stake in Efes Kazakhstan to EBI; and
Heineken will acquire EBI’s 28% stake in Central Europe Beverages (‘CEB’), the holding company for the Serbian operations, thereby obtaining full ownership.
Selling the minority cross-holdings to each other will result in a consideration to be paid by EBI to Heineken of US$161 million.

Each of the transactions announced today is anticipated to be completed no later than May 2013. The completion, which is subject to certain conditions, is expected to result in an exceptional book gain for Heineken. The proceeds will support the company’s financial objective to return to a net debt/EBITDA (beia )? ratio of below 2.5 times within 24 months of the closing of the APB transaction.

Heineken holds a solid position in the Serbian beer market with a brand portfolio that includes the Heineken® brand, which is the leader in the international premium segment, the Amstel brand and the local brands PilsPlus, Zajecarsko, MB Pils and Master.

The Kazakh beer market offers attractive growth opportunities for the Heineken® brand in the international premium segment and Heineken will continue to export the brand to the country.

The partnerships in Kazakhstan and Serbia were created in 2008, when Heineken and EBI combined their operations in the two countries. Following a strategic review the decision has been taken to unwind the partnerships.

? Before exceptional items and amortisation of brands.

24 Дек. 2012

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