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E-Malt.com newsletter
February 03 - February 05, 2003
Top Industry News
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The ten beer giants of the world in 2002.
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SABMiller plc, the world’s second largest brewer, reported in a statement on February 04, that its subsidiary in Poland, Kompania Piwowarska S.A. (KP) will acquire a 98.8% stake in the Polish brewer Browar Dojlidy.
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Mexico's number one beer company, Grupo Modelo, surged 4.96% in the stock market early Monday afternoon as investors took advantage of recent steep losses.
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Brazilian beer giant AmBev has announced it had accomplished a $600 million deal to buy 36.1 percent of the voting rights of top Argentine brewer Quilmes Industrial (Quinsa).
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Britain's biggest brewer, Scottish & Newcastle Plc, said on February 3 it would take an extra 15 million pound ($25 million) hit in its fiscal second half from problems in reorganizing its UK beer division, Scottish Courage.
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More news are available on site www.e-malt.com
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The British regional brewer Greene King Plc has announced that underlying sales at its managed pubs grew over the key Christmas and New Year period, allaying fears of weaker trading...more info
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Interbrew noted the Reuters statement issued last Friday, stating: "A group representing descendants of the founding families of Interbrew have sold some shares in the Belgian Brewer, according to a statement from Euronext Brussels"...more info
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The Danish investment bank, Danske Bank, Danske Equities, has raised its recommendation on Danish brewer, Bryggerigruppen, from "hold" to "buy"...more info
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Puurs, 31st January 2003 - Consolidated sales of the Belgian brewing group Duvel Moortgat NV will rise by more than 12% in the 2002 financial year, to at least 57.5 million euros, compared with 51.6 million the previous financial year...more info
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Czech brewery association said beer consumption per capita is with 159 litres in 2002 still the highest in the world. Domestic beer production rose last year by 2.2 percent to 17,8 million hectolitres...more info
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The world's second largest brewer SABMiller plc said on February 3 it had sold its "Just Juice" brand and "Valpre" water brand to The Coca Cola Company for $13 million in cash. "These brands will continue...more info
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Baltic Beverage Holdings may consider buying breweries in ex-Soviet states, thanks to the success of its Russian operations. Ramm-Schmidt would not mention any specific areas, but said if it did buy other breweries they would be located in former Soviet Union countries...more info
1. Industry news
The biggest beer maker of the world for 2002 year was proved to be the US company Anheuser-Bush, which produced about 148 million hl of beer during the year with an annual turnover of 13.650 million EUR and a profit of 1.911 million EUR. The number two brewer of the world is SABMiller (AS/US) with the annual turnover for 2002 of 7.959 million EUR and a profit of 320 million EUR. SABMiller has registered an output of 121 million hl of beer during 2002.
The third world largest brewer for the 2002 is the Dutch brewer Heineken, which has registered an output of 96 million hl, a turnover of 9.880 million EUR and a profit of 837 million EUR. After Heineken comes the Belgian brewer Interbrew, with a turnover of 7.614 million EUR, a profit of 592 million EUR and an output of 89 million hl... more info
SABMiller plc, the world’s second largest brewer, reported in a statement on February 04, that its subsidiary in Poland, Kompania Piwowarska S.A. (KP) will acquire a 98.8% stake in the Polish brewer Browar Dojlidy Sp. z o.o. (Dojlidy) and an outstanding shareholder loan from Radeberger Gruppe AG for a cash consideration of EUR 35.15 million (about US$37.89 million). The acquisition is conditional upon the satisfactory completion of a due diligence review by Kompania Piwowarska and the approval of the Polish Office for Protection of Competition and Consumers and the Ministry of Interior.
"This acquisition, which further consolidates our operations in Poland, gives us the opportunity to grow Dojlidy's core brands across our existing distribution platform. It builds on our strategy of optimising and expanding our established positions in developing markets and we anticipate additional benefits, such as procurement and distribution synergies, from integrating the business into KP,'' Graham Mackay, Chief Executive of SABMiller said... more info
Mexico's number one beer company, Grupo Modelo, surged 4.96% in the stock market early Monday afternoon as investors took advantage of recent steep losses, according to Reuters. "Modelo has been heavily punished, to the extent the stock almost had to rebound," a Mexico City trader said. The company, which produces top U.S. beer import Corona, saw its stock plummet more than 10 percent from Jan. 2 to last Friday.
Bear Stearns on Jan. 30 downgraded Grupo Modelo to peer perform from outperform following a reduction in management's fourth-quarter 2002 guidance because of weak December sales. "It appears that poor macro conditions in Mexico are now affecting the southern and central regions, where Modelo holds dominant market share," Bear Stearns said in its report. Modelo, whose main rival in Mexico is Fomento Economico Mexicano (Femsa), is half-owned by the world's largest beer producer, Anheuser-Busch Cos Inc.
Brazilian beer giant AmBev has announced it had accomplished a $600 million deal to buy 36.1 percent of the voting rights of top Argentine brewer Quilmes Industrial (Quinsa). The reason of the deal is to widen the company’s reach across the South American market. AmBev, the world's fifth-largest brewer, will now hold a 37.5-percent economic interest in Quinsa.
The news had been expected since AmBev (Companhia de Bebidas das Americas) said in mid-January that it had reached an agreement with Dutch brewer Heineken, which had been trying to block the sale first agreed in May.
The two companies will combine their operations in Argentina, Bolivia, Paraguay, and Uruguay to produce an unrivalled regional brewer. The deal also includes rights for Quinsa's shareholders, Beverage Associates Corp. (BAC), to exchange their Quinsa stock for AmBev shares from April 2003.
Britain's biggest brewer, Scottish & Newcastle Plc, said on February 3 it would take an extra 15 million pound ($25 million) hit in its fiscal second half from problems in reorganizing its UK beer division, Scottish Courage.
The firm, which brews three of Europe's top 10 beers in Kronenbourg, Foster's and Baltika, said the division was also unlikely to achieve any significant growth in operating profit in calendar 2003.
Scottish & Newcastle (S&N) warned investors on December 3 that reorganising Scottish Courage's supply chain had resulted in greater than expected disruption costs and delays in making cost savings... more info
2. Theoretical malt prices.
| EURO = USD 1.0884 February 05, 2003 |
| Crop year |
2002 |
| Parity |
FOB Antwerp |
| Position |
Oct 2002-Sept 2003 |
| Conditioning |
Bulk |
In bags |
Bulk containers |
In bags in containers |
| Malting barley variety |
EURO |
USD |
EURO |
USD |
EURO |
USD |
EURO |
USD |
| 2RS |
Prisma |
296.50 |
322.50 |
312.00 |
339.50 |
309.00 |
336.00 |
318.00 |
346.00 |
| 2RS |
Scarlett |
299.00 |
325.50 |
314.50 |
342.00 |
311.50 |
339.00 |
320.50 |
349.00 |
| 2RS |
Aspen |
295.50 |
321.50 |
310.50 |
338.00 |
307.50 |
335.00 |
317.00 |
345.00 |
| 2RS |
Optic |
295.50 |
321.50 |
310.50 |
338.00 |
307.50 |
335.00 |
317.00 |
345.00 |
| 2RS |
Nevada |
nq |
nq |
nq |
nq |
nq |
nq |
nq |
nq |
| 2RS |
Astoria |
288.00 |
313.50 |
303.50 |
330.00 |
300.50 |
327.00 |
309.50 |
337.00 |
| 2RS |
Cork |
288.00 |
313.50 |
303.50 |
330.00 |
300.50 |
327.00 |
309.50 |
337.00 |
| 2RS |
Average price |
294.50 |
320.50 |
309.50 |
337.00 |
306.50 |
334.00 |
316.00 |
344.00 |
| 2RS |
FAQ |
286.50 |
312.00 |
302.00 |
328.50 |
299.00 |
325.50 |
308.50 |
335.50 |
| 6RW |
Esterel |
269.00 |
293.00 |
284.50 |
309.50 |
281.50 |
306.50 |
290.50 |
316.50 |
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Theoretical malt prices for crop 2003 are available on site www.e-malt.com
3. Malting barley prices. French barley prices. Nominal prices.
| EURO = USD 1.0884 February 05, 2003 |
| Crop year |
2002 |
2003 |
| Parity |
FOB Creil |
FOB Creil |
| Position |
July 2002 |
July 2003 |
| Type |
Variety |
EURO |
USD |
EURO |
USD |
| 2RS |
Scarlett |
145.00 |
158.00 |
145.00 |
158.00 |
| 2RS |
Prisma |
143.00 |
156.00 |
nq |
nq |
| 2RS |
Prestige |
nq |
nq |
144.00 |
157.00 |
| 2RS |
Aspen |
142.00 |
154.50 |
143.00 |
156.00 |
| 2RS |
Optic |
142.00 |
154.50 |
143.00 |
156.00 |
| 2RS |
Nevada |
nq |
nq |
nq |
nq |
| 2RS |
Astoria |
136.00 |
148.50 |
141.00 |
153.50 |
| 2RS |
Cork |
136.00 |
148.50 |
141.00 |
153.50 |
| 6RW |
Esterel |
124.00 |
135.00 |
123.00 |
134.00 |
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