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RELATÓRIO DA ADMINISTRAÇÃO O Ano De 2019 Foi Marcado Por
RELATÓRIO DA ADMINISTRAÇÃO O ano de 2019 foi marcado por investimentos transformadores em nosso portfólio, com novos líquidos e novas embalagens, inovações que buscam o crescimento sustentável da Companhia no longo prazo, alcançando um crescimento orgânico da receita líquida de 7,9%. Por outro lado, enfrentamos pressões significativas sobre o custo devido ao aumento do preço de matérias-primas denominadas em dólar, levando a um crescimento orgânico moderado do EBITDA de 1,5%, com contração orgânica da margem em 260 pontos-base. Estamos comprometidos a entregar melhores resultados em 2020, fortalecendo os fundamentos que temos construído nos últimos anos para gerar crescimento no longo prazo: (i) uma abordagem centrada no consumidor; (ii) nosso portfólio excepcional de marcas; (iii) nossa inigualável capacidade de distribuição; (iv) inovações animadoras; (v) iniciativas em tecnologia; e (vi) nossa gente. No segmento de cervejas no Brasil, introduzimos inovações em todos os segmentos de mercado e continuamos a realizar investimentos estruturais direcionados ao consumidor. Lançamos e consolidamos a marca Skol Puro Malte, que fortalece a família Skol de cervejas, e avançamos com o bom momento da marca Brahma, que manteve sua conexão com paixões brasileiras – futebol e música sertaneja. Nosso portfólio de cervejas premium manteve o forte ritmo de crescimento, de dois dígitos. O excelente desempenho das marcas globais, Budweiser, Corona e Stella Artois, assim como da cerveja Original, foi reforçado pelo lançamento de Beck’s, uma legítima cerveja puro malte alemã com sabor amargo único, e da marca Colorado Ribeirão Lager, que em poucos meses se tornou líder do segmento de cervejas artesanais no Brasil. As cervejas Nossa, Magnífica e Legítima, produzidas com mandioca de produtores locais, apresentaram resultados surpreendentes, fomentando, assim, a economia e a cultura dos estados do Nordeste onde são produzidas e vendidas. -
The Deity's Beer List.Xls
Page 1 The Deity's Beer List.xls 1 #9 Not Quite Pale Ale Magic Hat Brewing Co Burlington, VT 2 1837 Unibroue Chambly,QC 7% 3 10th Anniversary Ale Granville Island Brewing Co. Vancouver,BC 5.5% 4 1664 de Kronenbourg Kronenbourg Brasseries Stasbourg,France 6% 5 16th Avenue Pilsner Big River Grille & Brewing Works Nashville, TN 6 1889 Lager Walkerville Brewing Co Windsor 5% 7 1892 Traditional Ale Quidi Vidi Brewing St. John,NF 5% 8 3 Monts St.Syvestre Cappel,France 8% 9 3 Peat Wheat Beer Hops Brewery Scottsdale, AZ 10 32 Inning Ale Uno Pizzeria Chicago 11 3C Extreme Double IPA Nodding Head Brewery Philadelphia, Pa. 12 46'er IPA Lake Placid Pub & Brewery Plattsburg , NY 13 55 Lager Beer Northern Breweries Ltd Sault Ste.Marie,ON 5% 14 60 Minute IPA Dogfishhead Brewing Lewes, DE 15 700 Level Beer Nodding Head Brewery Philadelphia, Pa. 16 8.6 Speciaal Bier BierBrouwerij Lieshout Statiegeld, Holland 8.6% 17 80 Shilling Ale Caledonian Brewing Edinburgh, Scotland 18 90 Minute IPA Dogfishhead Brewing Lewes, DE 19 Abbaye de Bonne-Esperance Brasserie Lefebvre SA Quenast,Belgium 8.3% 20 Abbaye de Leffe S.A. Interbrew Brussels, Belgium 6.5% 21 Abbaye de Leffe Blonde S.A. Interbrew Brussels, Belgium 6.6% 22 AbBIBCbKE Lvivske Premium Lager Lvivska Brewery, Ukraine 5.2% 23 Acadian Pilsener Acadian Brewing Co. LLC New Orleans, LA 24 Acme Brown Ale North Coast Brewing Co. Fort Bragg, CA 25 Actien~Alt-Dortmunder Actien Brauerei Dortmund,Germany 5.6% 26 Adnam's Bitter Sole Bay Brewery Southwold UK 27 Adnams Suffolk Strong Bitter (SSB) Sole Bay Brewery Southwold UK 28 Aecht Ochlenferla Rauchbier Brauerei Heller Bamberg Bamberg, Germany 4.5% 29 Aegean Hellas Beer Atalanti Brewery Atalanti,Greece 4.8% 30 Affligem Dobbel Abbey Ale N.V. -
L & F to Purchase Desert Eagle Dist
Modern Brewery Age Weekly E-Newsletter •Volume 58, Number 51• December 17, 2007 Miller Brewing Co. to test “lite” craft beers Miller Brewing Co. has announced that it will test the ‘‘Miller Lite Brewers Collection,’’ a portfolio of craft-style beers that are lower in calories and carbohydrates. Miller will test the collection in four markets— Minneapolis, Charlotte, San Diego and Baltimore, beginning in February 2008. The Brewers Collection will feature three beers—Blonde Ale, an Amber and a Wheat—each with fewer calories and carbs than a typical craft beer for that style. Miller Chief Marketing Officer Randy Ransom said “Miller is seeking to again establish a whole new category for the beer industry—craft-style-light. “The brewer who can provide a more refreshing and drinkable craft style can stake out a whole new niche in the market. (Continued on Page 10) L & F to purchase Desert Eagle Dist. Desert Eagle Distributing, which controls 76 percent of El Paso's beer market is sell- ing the company to L&F Distributors, a larger McAllen, TX-based, family-owned distributor, the El Paso Times reports. "The future of the business will be large, Jim Sloan, vice president, Star Brand Imports, pours the first draft beer from a rare keg of Affligem mega wholesalers. We either had to grow Noel tapped at the Ginger Man in New York City this past week. Star Brands is importing 61 20-liter the business or sell out. In our case we had kegs of the celebrated Belgian seasonal, to be sold on draft in select accounts in the New York, no acquisition possibilities," J. -
AB Inbev-Sabmiller Merger Bash: Who Will Have the Most Fun by HELEN THOMAS and SPENCER JAKAB, WSJ, Sept
AB InBev-SABMiller Merger Bash: Who Will Have the Most Fun By HELEN THOMAS And SPENCER JAKAB, WSJ, Sept. 16, 2015 12:53 p.m. ET Anheuser-Busch InBev has finally opted to down its pint, but everyone else in the bar may end up having more fun. The world’s largest brewer by sales said Wednesday that it planned to make an offer to buy SABMiller, a long-awaited deal that would bring together companies controlling 30% of global beer volumes. The timing, at least from AB InBev’s standpoint, makes sense. SABMiller has underperformed other beer companies this year, thanks to its huge emerging-markets exposure. Nearly 70% of its sales are made in China or markets reliant on commodities like Nigeria, Australia or sub-Sahran Africa, notes Barclays, the highest in the European staples sector. Longer-term this should translate into higher growth. Indeed, increasing its exposure to markets like Colombia, Peru and in Africa may be part of the appeal for AB InBev. But given current anxieties, SABMiller’s valuation had dropped to about 18 times forecast earnings, a slight discount to the sector. Over the past year, the stock has underperformed AB InBev by about 30 percentage points. SABMiller still won’t come cheap. Even before the deal announcement, its valuation was at a slight premium to its five- year average of about 18.3 times. Its substantial shareholders, Altria and Colombia’s Santo Domingo family, from whom SAB bought Bavaria in 2005, together control more than 40% of the company. But AB InBev’s formidable reputation in slashing costs means a deal helps to offset concerns about its own slowing growth. -
Meet China's Corporates: a Primer
Meet China’s Corporates: A Primer An At-A-Glance Guide to China’s Non-Financial Sectors July 9, 2020 S&P Global (China) Ratings www.spgchinaratings.cn July 9, 2020 Meet China’s Corporates: A Primer July 9, 2020 Contents Beer ..................................................................................................... 3 Car Makers ........................................................................................... 6 Cement ................................................................................................ 9 Chemical Manufacturers .................................................................... 11 Coal ................................................................................................... 13 Commercial Real Estate ..................................................................... 16 Engineering and Construction ............................................................ 18 Flat Panel Display Technology ............................................................ 21 Household Appliances ....................................................................... 23 Liquor ................................................................................................ 25 Online and Mobile Gaming.................................................................. 28 Power Generation ............................................................................... 31 Real Estate Development ................................................................... 34 Semiconductors ................................................................................ -
ANNUAL REPORT 2012 Asahi Group Holdings, Ltd
Asahi Group Holdings, Ltd. Creating Value for Sustainable Growth ANNUAL REPORT 2012 CORPORATE CORPORATE PHILOSOPHY BRAND STATEMENT The Asahi Group aims to satisfy Share the “Kando”* its customers with the highest levels of Always creating new value moves people’s quality and integrity, hearts and forms a strong bond. Always imagining a fresh tomorrow moves while contributing to people’s hearts and helps them shine. the promotion of healthy living and Sharing these emotional experiences with as many people as possible — this is the enrichment of society worldwide. the mission of the Asahi Group. * Kando is an emotion experienced in various ways. It can be an extreme satisfaction, an extraordinary feeling beyond one’s expectations, and/or a sensitively touch- ing and moving sensation. CONTENTS 01 To Our Shareholders and Friends 40 Group Management 02 Financial Highlights 40 Corporate Governance 44 Risk Management and Compliance Opening Feature: 04 45 Board Of Directors, Corporate Auditors Toward long-term, stable growth and Corporate Officers 06 Interview with the President 46 Corporate Social Responsibility (CSR) 14 Special Feature: 51 Financial Section Enhancing our business base 99 Fact Sheets for stable, long-term growth 103 Corporate Data —Realizing a value cycle— 105 Investor Information 16 Review of Operations Forward-Looking Statements 16 Asahi Group at a Glance The current plans, forecasts, strategies and performance presented in this annual 18 Alcohol Beverages report include forward-looking statements based on assumptions and opinions arrived at from currently available information. The Asahi Group cautions readers 24 Soft Drinks that future actual results could differ materially from these forward-looking statements depending on the outcome of certain factors. -
Anheuser-Busch Inbev
Our Dream: Anheuser-Busch InBev Annual Report 2014 1 ABOUT ANHEUSER-BUSCH INBEV Best Beer Company Bringing People Together For a Better World Contents 1 Our Manifesto 2 Letter to Shareholders 6 Strong Strategic Foundation 20 Growth Driven Platforms 36 Dream-People-Culture 42 Bringing People Together For a Better World 49 Financial Report 155 Corporate Governance Statement Open the foldout for an overview of our financial performance. A nheuser-Busch InBev Annual / 2014 Report Anheuser-Busch InBev 2014 Annual Report ab-inbev.com Our Dream: Anheuser-Busch InBev Annual Report 2014 1 ABOUT ANHEUSER-BUSCH INBEV Best Beer Company Bringing People Together For a Better World Contents 1 Our Manifesto 2 Letter to Shareholders 6 Strong Strategic Foundation 20 Growth Driven Platforms 36 Dream-People-Culture 42 Bringing People Together For a Better World 49 Financial Report 155 Corporate Governance Statement Open the foldout for an overview of our financial performance. A nheuser-Busch InBev Annual / 2014 Report Anheuser-Busch InBev 2014 Annual Report ab-inbev.com Anheuser-Busch InBev Annual Report 2014 1 ABOUT ANHEUSER-BUSCH INBEV About Revenue was Focus Brand volume EBITDA grew 6.6% Normalized profit Net debt to EBITDA 47 063 million USD, increased 2.2% and to 18 542 million USD, attributable to equity was 2.27 times. Anheuser-Busch InBev an organic increase accounted for 68% of and EBITDA margin holders rose 11.7% Driving Change For of 5.9%, and our own beer volume. was up 25 basis points in nominal terms to Anheuser-Busch InBev (Euronext: ABI, NYSE: BUD) is the leading AB InBev’s dedication to heritage and quality originates from revenue/hl rose 5.3%. -
Annual Report 2008
Annual Report 2008 The best brands in a better world WorldReginfo - 7f159eba-1090-41cd-beb0-24ee6121dae1 Our Vision “To be the best beer company in a better world.” To be the best means fulfi lling the needs of consumers with the best brands and products; to build a strong and unique culture, with the best and most committed people; to have the courage to advance and lead with changes; and to be recognized by our customer as their best partner. We are committed to our people, to our community, our business partners and with a better world. We will be the best company in a better world if today we build the foundations to obtain solid and increasing economic results, focusing on the creation of social and environmental value for our consumers, our employees, our shareholders and the generations to come. WorldReginfo - 7f159eba-1090-41cd-beb0-24ee6121dae1 Summary Welcome to AmBev | 03 Our performance in 2008 | 05 Shareholder information | 06 Strategic location | 08 Complementary brands | 11 The strength that builds us | 15 AmBev Operations | 19 Beer Brazil | 20 Soft Drinks and Non-Carbonated Beverages | 24 Quinsa | 26 Canada | 28 Hila-Ex | 30 People who make the difference | 33 A better world | 37 Corporate governance | 41 Bovespa and NYSE | 44 A team of leaders | 45 Financial statements | 46 WorldReginfo - 7f159eba-1090-41cd-beb0-24ee6121dae1 AmBev 2 Annual Report 2008 AmBev factory in Jaguariúna (SP), Brazil WorldReginfo - 7f159eba-1090-41cd-beb0-24ee6121dae1 Welcome to AmBev We are the 4th largest beer company in the world and we are part of the life of our consumers We are present in 14 countries in South, Central and North America, producing and selling beers, soft drinks and non- carbonated beverages. -
Tsingtao Brewery Company Case Study Tsingtao Brewery Co., Ltd
Tsingtao Brewery Company Case Study Tsingtao Brewery Co., Ltd., one of the oldest beer makers in China, was founded in 1903 by German and British merchants under the name Nordic Brewery Co., Ltd. Tsingtao Branch. Today, Tsingtao Brewery is China’s largest brewery and was also an Official Sponsor of the Beijing 2008 Olympic Games. On July 15, 1993, Tsingtao Brewery became the first-ever Chinese company to be listed on the Hong Kong Stock Exchange (stock code 0168). On August 27, 1993, it listed on the Shanghai Stock Exchange (stock code: 600600), making Tsingtao Brewery the first Chinese company to be listed in both Mainland China and Hong Kong. China now has about 500 breweries, nearly one for every three counties, but 80 per cent have an annual production capacity of less than 50,000 tons and most have operational difficulties. This has spelled opportunities for the three heavyweights, Tsingtao, Yanjing and China Resources. They have all pursued a domestic expansion plan through numerous strategic mergers, purchasing insolvent companies, reorganization, and joint-venture partnerships. Still, in spite of its having the second largest market in the world, China still has a long way to go because per capita beer consumption annually is only about 15 liters, compared to 84 liters in the United States. In 2007, Tsingtao Brewery achieved a total sales volume of 5.05 million kiloliters globally, with the market share of Tsingtao Beer in China reaching 13% . In that same year, World Brand Lab valued the brand at RMB 25.827 billion, placing it first in China’s brewing industry. -
Beverage Industry Market Update Au Gu S T 2019 Cascadia Capital Beverage Expertise
Beverage Industry Market Update Au gu s t 2019 Cascadia Capital Beverage Expertise We are 15 professionals with greater than 100 years of collective consumer & retail investment banking experience. We have completed more than 75 transactions since the beginning of 2010, in excess of $2.5 billion of enterprise value, including 25 capital markets transactions and 50 M&A advisory assignments. Our team has a deep understanding of the underlying consumer trends driving disruptive change in our core sectors of focus. We are in constant dialog with active strategic and financial counterparties in the consumer and retail sectors, providing us with the ability to best position our clients for an optimal outcome. In March 2018, Cascadia Capital announced a partnership with First Beverage Financial, the investment banking division of First Beverage Group. The acquisition brought Cascadia a proven and highly-specialized team with a deep focus across the beverage landscape, including the market’s leading M&A franchise in craft beer. Recently Closed Beverage Industry Transactions has completed a Series A growth equity has been investment recapitalizedby July 2019 April 2019 has been acquiredby August2016 1 Table of Contents I. Market Overview II. Transaction Highlights III. Public Comparables IV. Appendix i. Cascadia Capital Overview 2 I. Market Overview 3 Beverage Alcohol Volume Declines but Dollars Increase The global market for beverage alcohol has declined due to increased attention to health and wellness, prioritizing quality over quantity and -
Financial Services Guide and Independent Expert's Report In
Financial Services Guide and Independent Expert’s Report in relation to the Proposed Demerger of Treasury Wine Estates Limited by Foster’s Group Limited Grant Samuel & Associates Pty Limited (ABN 28 050 036 372) 17 March 2011 GRANT SAMUEL & ASSOCIATES LEVEL 6 1 COLLINS STREET MELBOURNE VIC 3000 T: +61 3 9949 8800 / F: +61 3 99949 8838 www.grantsamuel.com.au Financial Services Guide Grant Samuel & Associates Pty Limited (“Grant Samuel”) holds Australian Financial Services Licence No. 240985 authorising it to provide financial product advice on securities and interests in managed investments schemes to wholesale and retail clients. The Corporations Act, 2001 requires Grant Samuel to provide this Financial Services Guide (“FSG”) in connection with its provision of an independent expert’s report (“Report”) which is included in a document (“Disclosure Document”) provided to members by the company or other entity (“Entity”) for which Grant Samuel prepares the Report. Grant Samuel does not accept instructions from retail clients. Grant Samuel provides no financial services directly to retail clients and receives no remuneration from retail clients for financial services. Grant Samuel does not provide any personal retail financial product advice to retail investors nor does it provide market-related advice to retail investors. When providing Reports, Grant Samuel’s client is the Entity to which it provides the Report. Grant Samuel receives its remuneration from the Entity. In respect of the Report in relation to the proposed demerger of Treasury Wine Estates Limited by Foster’s Group Limited (“Foster’s”) (“the Foster’s Report”), Grant Samuel will receive a fixed fee of $700,000 plus reimbursement of out-of-pocket expenses for the preparation of the Report (as stated in Section 8.3 of the Foster’s Report). -
Discussion Materials
BMO Financial Group China’s Role in the Global Food Economy A Look Forward BMO Financial Group in China - Timeline 1818 1961 1996 2003 2004 BMO undertakes first BMO is one of the first BMO is the first BMO becomes a 16.7% BMO is the first FX transaction in western banks to Canadian bank owner of Fullgoal Fund Canadian bank to be support of trade with establish direct licensed for a full- Management, China’s 2nd- licensed by the China China business ties with the service branch in largest mutual fund Banking Regulatory Bank of China Beijing company (increased to Commission to sell 28% in 2004) derivatives in China BMO China Timeline 2005 2005 2006 2008 2010 BMO is the first BMO selected to work BMO opens Shanghai branch officially BMO is the first Canadian bank licensed alongside the BOC, the Investment Banking begins operations Canadian bank to to provide RMB local CITIC and the ICBC as a representative office in incorporate in China currency services to market maker for the new Beijing foreign and local FX trading platform companies in China BMO Financial Group in China – Market Presence Bank of Montreal (China) Co. Ltd. -Office presence since 1983 Beijing -4 Greater China branches and 200 staff ▪ -FX pioneer and government-appointed FX market maker -USD & CNY licenses with national coverage -Active in trade finance -Close relationships with top Chinese banks -Expanded product range with 2010 local incorporation ▪ Shanghai Guangzhou ▪ ▪ Hong Kong Bank of Montreal (China) Co. Ltd is a wholly-owned subsidiary of BMO Financial Group Observations The food industry continues to be one of China’s largest, fastest growing and most important sectors.