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Eabl-2020-Annual-Report-Abridged.Pdf Lorem ipsum GEARS growth 2020 Integrated Report and Financial Statements GEARS growth 2 EABL 2020 Integrated Report and Financial Statements EABL 2020 Integrated Report and Financial Statements 3 4 EABL 2020 Integrated Report and Financial Statements EABL in 2020 ast African Breweries Limited (EABL) is a regional leader in beverage alcohol with an exceptional collection of brands across beer and spirits. EAlthough our business is concentrated in three core markets of Kenya, Uganda and Tanzania, our products are sold in more than 10 countries across Africa and beyond. Our brands are an outstanding combination of local beers and international premium spirits. These include: Tusker, Guinness, Bell Lager, Serengeti Lager, Kenya Cane, Uganda Waragi, Smirnoff and Johnnie Walker among others. Our performance ambition is to be among the best performing, most trusted and respected consumer products company in Africa. We are proud of the brands we make and the positive impact they have on society. We are passionate about alcohol playing a positive role in society as part of a balanced lifestyle. Contents Our Business Model 6 Our Strategy 8 Financial Highlights 10 Executive Summary 12 Chairman’s Statement 16 Group Managing Director’s Statement 20 Board of Directors 26 Senior Management 30 Notice of Annual General Meeting 32 Corporate Governance Statement 40 Annual Report and Financial Statements 54 Corporate Information 56 Directors’ Report 58 Directors’ Remuneration Report 64 Statement of Directors’ Responsibilities 70 Report of the Independent Auditor 71 Financial Statements 76 Principal Shareholders and Share Distribution 141 Proxy Form 142 Electronic Communications Consent Form 144 EABL 2020 Integrated Report and Financial Statements 5 Our Business Model EABL Overview East African Breweries Limited (EABL) is the leading branded alcohol beverage business in East Africa with an outstanding collection of brands that range from beer, spirits and adult non-alcoholic drinks (ANADs) reaffirming our standing as a total adult beverage (TAB) company. Our extensive network of breweries, distilleries, and distribution facilities span across the six markets within which we operate in East Africa, especially concentrated in the three core markets of Kenya, Uganda and Tanzania. Despite operating in East Africa, our unique products can be found in more than 10 countries across Africa and beyond. The group's diversity is an important factor in delivering the highest quality brands to East African consumers and long-term value to East African investors. Our brands are an outstanding combination of local beers and international premium spirits. These include: Tusker, Guinness, Bell Lager, Serengeti Lager, Kenya Cane, Uganda Waragi, Smirnoff and Johnnie Walker Despite operating in East Africa, our unique products can be found among others. We are proud of the brands we make and the positive impact they in more than 10 countries across Africa and beyond. The group's have on society. We are passionate about diversity is an important factor in delivering the highest quality alcohol playing a positive role in society as brands to East African consumers and long-term value to East part of a balanced lifestyle. African investors. Our Business Model Our business operates with the simple purpose of supporting our consumers in ‘Celebrating life every day, everywhere’. beyond. Our portfolio and geographic reach • Producing quality beer, spirits and adult Hence, the consumer is at the heart of enable us to deliver sustainable performance non-alcoholic beverages (ANADs). our business. Our performance ambition and create value for our shareholders. • Investing in responsible marketing to ‘to create the best performing, most We are proud of our long heritage of investing build aspiration for high quality brands. trusted and respected consumer products in individual markets within the region and • Continuously innovating to unlock new company in Africa’, coupled with our vision enriching the community; as well as building opportunities and deliver new offerings ‘to be the most celebrated business in brands that continue to meet consumer needs that meet changing consumer demands. every market in Eastern Africa’, guide how and provide enjoyment to millions. We have • Transforming sales execution and we operate and every decision we make. a broad portfolio across categories and price extending our reach to ensure our EABL operates across East Africa through points to suit our consumers changing lifestyle. consumers can access and enjoy our the following subsidiaries: Kenya Breweries We continuously invest in building strong brands every day, everywhere. Limited (KBL), Uganda Breweries Limited brands that play a positive role in society. • Sourcing and producing locally where viable to support local communities. (UBL), Serengeti Breweries Limited (SBL) in Our business model is centered on country • Playing a positive role in society and Tanzania, UDV (Kenya) Limited, East African specific strategies which allow us the agility delivering value to our stakeholders and Beverages (South Sudan) Limited and East to identify and shape consumer trends, as well shareholders. African Maltings Limited (EAML) in Kenya. as respond to market dynamics to support Although our business is concentrated growth. We are a proud grain-to-glass business in these markets, our brands are sold in and remain steadfastly focused on: more than 10 countries across Africa and 6 EABL 2020 Integrated Report and Financial Statements Our Business Model Leading total Scale Global Giants: Johnnie Walker, adult beverage Smirnoff, Baileys and Guinness are company in among the global brands that we Eastern Africa bring to market with scale. 98 years of Agility in Innovation: Focused on experience, growing share by innovating new since 1922 offerings that meet changing consumer needs 1% GDP Extensive footprint contribution in supply and in Kenya distribution Operating across 6 Market countries within East leadership in 2 Africa, with 6 breweries key markets. and 1 malting plant +2 million people Working with a network impacted directly of capable distribution or indirectly partners and over 110,000 retailers Partnering with 60,000 Strong iconic brands farmers to supply our raw materials A Winning Portfolio: Over 40 brands Investing in capacity within spirits and beer, making building from grain up East Africa’s largest and most to glass. diverse portfolio of brands. Powerful Local Jewels: Some of the most iconic and loved brands in East Africa – Tusker, Serengeti & Bell Lager. EABL 2020 Integrated Report and Financial Statements 7 Our Strategy Our Strategy on an understanding of growth potential, partnering with governments across profitability and our own right to win. the region in addressing the health risks Our strategy is underpinned by our associated with consumption of illicit passionate desire to serve our consumers Our strategy is delivered through 4 alcohol. with high quality brands to suit every executional priorities: Bringing vibrancy and occasion and economic levels, and our dynamism to mainstream beer; exploding Delivery of our ambition is further reinforced desire to deliver long term shareholder mainstream spirits with an affordable and by our laser focus on: building an effective value to our investors. We are committed aspirational portfolio; accelerating and route to consumer ensuring our brands are to serving the communities in which we winning in premium by building aspiration highly accessible and available; investing operate by ensuring alcohol continues to and availability of our brands; and shaping across our supply chain from grain to glass play a positive role in society as part of a new frontiers by recruiting new consumers guaranteeing supply through an advantaged balanced lifestyle. within total beverage alcohol. but fit purposeful value chain; and enforcing a culture of continuous evaluation to Our strategic ambition is to create the best Informal secton is still the largest source of optimize our costs for maximum returns. performing, most trusted and respected growth in the region, with as high as 50% Lastly, we pride ourselves in the reputation consumer products company in Africa. We of alcohol consumed and sold through we continue to build and solidify as a recently refreshed our strategic priorities to informal channels. Hence, we will continue respected partner in the community reflect the changing consumer trends and to innovate at scale to provide safe and by enforcing a culture of integrity and market dynamics, hence sharpening our accessible alternatives to our value driven compliance across the business. focus on where to invest and win based consumers. We are also committed to AMBITION To create the best performing, most trusted and respected consumer products company in Africa. STRATEGIC IMPERATIVES Vibrant Mainstream Beer Explode Mainstream Win in Premium Shape new frontiers Spirits KEY ENABLERS Aspirational and Accessible Innovations. Route to Consumer Reputation Supply Footprint Ecient Growth / Productivity Competitive coverage that drives market Respected partner by all stakeholders for being Guarantee supply through an advantaged Culture of Monitoring and Evaluation share gains across the 4 imperatives. best in class in compliance, brand protection but t for purpose value chain and investment allocation to drive out and sustainability. cost and make every shilling worth more. Culture of compliance embedded at all levels. Unlock growth Through People and
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