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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.

India. Sebi expands probe into financial dealings of Vijay Mallya firms

Suspecting serious lapses in financial dealings of various listed companies of Vijay Mallya-led United Breweries Group, the capital markets regulator Securities and Exchange Board of India (Sebi) has expanded its probe into possible diversion of funds by the promoters.

The matter is also being flagged to other agencies and government departments, including the corporate affairs ministry and its probe agency the SFIO (Serious Fraud Investigation Office), a senior official said.

The Sebi is looking into violation of securities market regulations including the strict disclosure requirements such as insider dealings with the promoters and related parties.

Besides, Sebi is also probing any possible violation of norms aimed at checking fraudulent and unfair trades and compromising the interest of minority shareholders.

A forensic audit has found possible irregularities and mismanagement in advances and investments made by Mangalore Chemicals and Fertilisers Ltd (MCFL), where Mallya’s UB Group remains a promoter entity despite Zuari Group having acquired a controlling stake, to his other group companies.

As a result, financial dealings of other group companies with their respective promoters are also being probed, the official said.

The board of MCFL, which Zuari Fertilisers and Chemicals Ltd took over last year after wresting control from Mallya, had appointed Ernst and Young LLP to do a forensic investigation into the Rs.200 crore investment MCFL had made in Bangalore Beverages Ltd.

The audit was also asked to look into various advances made by MCFL to Mallya’s flagship United Breweries (Holdings) Ltd (UBHL), of which Rs.16.68 crore was outstanding as of 31 March 2016.

Bangalore Beverages is a step-down subsidiary of UBHL and is facing a liquidity crunch. The audit found these “transactions may have involved irregularities and elements of mismanagement in the company.”

On its part, MCFL is also taking legal advice in connection with the findings of Ernst and Young. MCFL has made provision of Rs.200 crore for potential diminution in the value of investments in Bangalore Beverages.

It has also provided for Rs.16.68 crore advances receivable from UBHL in its books of account for 2015-16.

Various UB Group firms are already facing probes by Sebi relating to listing rule violations, while the corporate affairs ministry is also looking into alleged violations of certain provisions of the Companies Act. The role of previous auditors is also under the scanner.

10 мая. 2016

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