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GLOBALFOOTPRINTNorth AmericaOver the past 20 years we have grown rapidlyfrom our original South African base into a globaloperation, developing a balanced and attractiveportfolio of businesses. Our markets range fromdeveloped economies such as North America tofast growing developing markets such as Chinaand India.Latin AmericaColombiaEcuadorEl SalvadorHondurasPanamaPeru25%EBITA 2007Latin AmericaOur primary brewing and beverageoperations cover six countries. Theseare Colombia, El Salvador, Ecuador,Honduras, Panama and Peru. We are thenumber one brewer, in terms of marketshare, in each of these countries.We bottle soft drinks for The Coca-ColaCompany in El Salvador and Honduras.We have recently entered the Puerto Ricomarket with our international premiumbeer brands.Total number of breweries – 17Total number of bottling plants – 14Total average number of employees – 26,394*Key local lager brands include: Aguila;Atlas; Balboa; Barena; Cristal; Club; ClubColombia; Costeña; Cusqueña; PilsenCallao; Golden Light; Pilsen; Poker;Pilsener; Port Royal and Salva VidaFor more information see pages 24-25EBITA 2007Europe20%Our primary brewing operations cover eightcountries. These are the Canary Islands(Spain), Czech Republic, Hungary, Italy,Poland, Romania, Russia and Slovakia.In the majority of these countries we arethe number one or two brewer.We also have significant import businessesin the UK and Germany where we importour international premium brands.Total number of breweries – 19Total average number of employees – 12,017*Key local lager brands include: AranyAszok; Debowe Mocne; Dorada; Dreher;Gambrinus; Kozel; Lech; Moya Kaluga;Nastro Azzurro; Pilsner Urquell; Peroni;S˘ aris˘; Radegast; Timisoreana Lux; Topvar;Tropical; Tyskie; Ursus; Zolotaya Bochkaand ZubrFor more information see pages 25-2610%EBITA 2007North AmericaMiller Brewing Company is the second largestbrewer in the US market – the beer marketwith the world’s biggest profit pool. Throughmore than 150 years of innovation andbrewing excellence, Miller has built a portfolioof award-winning beers and now ownsthe fast growing premium Sparks brand.Miller has licensed production in Canadaand distribution in Mexico.Total number of breweries – 8Total average number of employees – 5,889*Key local lager brands include: Miller Lite;Miller Genuine Draft; Miller High Life;Milwaukee’s Best and Leinenkugel’sFor more information see pages 26-272SABMiller plc Annual Report 2007 Global footprint For more information on our businesses, visitwww.sabmiller.com/sabmiller.com/en_gb/Our+business/Our+markets
South Africa12%EuropeCzech RepublicHungaryItalyPolandRomaniaRussiaSlovakiaCanary IslandsUKEBITA 2007Africa and AsiaAfrica and AsiaAngola TanzaniaBotswana UgandaComoros ZambiaGhana ZimbabweLesothoMalawi AustraliaMayotte ChinaMozambique IndiaSwaziland VietnamIn Africa, our primary brewing and beverageoperations cover 31 countries and we arethe number one brewer in terms of marketshare in most of these countries. In 12of these countries we have managementcontrol, while in the others we have astrategic alliance with Castel and a minorityshareholding in Kenya and Zimbabwe.We bottle soft drinks for The Coca-ColaCompany in seven of our African markets.CR Snow, our partnership with ChinaResources Enterprise Limited, is the largestbrewer by volume in China, and we are thesecond largest brewer in India. We have ajoint venture in Vietnam with Vinamilk andwe also sell our premium brands in Australiathrough a joint venture with Coca-Cola Amatil.* See note 6 to the Consolidated Financial Statements.** Volumes are defined in the ‘Definitions’ section on page 140.Denotes regions where SABMiller operates, or has a major distributionagreement (over 100,000 hectolitres) or recent start-up operationsDenotes regions covered by our strategic partner CastelTotal number of breweries – 76Total number of bottling plants – 17Total average number of employees – 11,028*Key lager brands include: 2M; Castle;Castle Milk Stout; Chibuku (sorghum);Club; Club Pilsner; Eagle (clear sorghum);Fosters; Haywards; Laurentina; Kilimanjaro;Manica; Mosi; Nduvo; N’gola; Nile Special;Royal Challenge; Safari; Snow; Stone;St Louis and ZorokFor more information see pages 27-28200More than 200 brands owned127Total number of breweries67,000Total average numberof employees*216 millionTotal volume of lager sold**(hectolitres)33%EBITA 2007South AfricaSouth African Breweries Ltd (SAB Ltd) is ouroriginal brewing company. Founded in 1895,SAB Ltd has since become one of SouthAfrica’s leading companies as well as Africa’slargest brewer. The soft drinks division ofSAB Ltd is South Africa’s largest producer ofproducts for The Coca-Cola Company.SABMiller has hotel and gaming intereststhrough the Tsogo Sun Group, one of thelargest hotel and gaming groups in SouthAfrica. The group was created in 2003 whenSABMiller and Tsogo Investments mergedtheir activities. At the time, it was the largestempowerment transaction in the sector andSABMiller holds a 49% interest in the group.Total number of breweries – 7Total number of bottling plants – 10Total average number of employees – 11,400*Key local brands include: Brutal Fruit;Carling Black Label; Castle; Castle Lite;Castle Milk Stout; Hansa Marzen Gold;Hansa Pilsener; Redd’s and SaritaFor more information see pages 28-29Overview Operating and financial review Governance Financial statements Shareholder informationFor more information on our brands, visitwww.sabmiller.com/sabmiller.com/en_gb/Our+brandsGlobal footprint SABMiller plc Annual Report 20073
Page 1 and 2: Annual Report2007
Page 3 and 4: SABMiller is one of the world’s l
Page 5: ■■■■■■OURPERFORMANCEGro
Page 9 and 10: Share price1 April 2002 to 31 March
Page 11 and 12: CHIEF EXECUTIVE’SREVIEWGRAHAM MAC
Page 13 and 14: Our Miller business in North Americ
Page 15 and 16: Between 1999 and 2007, we have grow
Page 17 and 18: Strong relevant localbrand portfoli
Page 19 and 20: Group reported EBITA marginperforma
Page 22 and 23: CHIEF FINANCIALOFFICER’S REVIEWMA
Page 25 and 26: Net cash from operations(US$m)4,000
Page 27 and 28: Our strong financial structure give
Page 29: a premium price. CSD volume growthw
Page 32 and 33: OPERATIONSREVIEWSOUTH AFRICAWe reco
Page 34 and 35: SUSTAINABLEDEVELOPMENTREVIEWOur abi
Page 36 and 37: Sustainable development framework c
Page 38 and 39: CORPORATEGOVERNANCE1.The directors
Page 40 and 41: on a rotational basis, from the div
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Page 44 and 45: Executive committeeThe executive co
Page 46 and 47: BOARD OFDIRECTORSGraham Mackay (57)
Page 48 and 49: EXECUTIVECOMMITTEEThe executive com
Page 50 and 51: In December 2006, CR Snow announced
Page 52 and 53: REMUNERATION REPORTIntroductionThis
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REMUNERATION REPORTContinuedInforma
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REMUNERATION REPORTContinuedSABMill
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STATEMENT OF DIRECTORS’ RESPONSIB
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CONSOLIDATED INCOME STATEMENTfor th
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CONSOLIDATED CASH FLOW STATEMENTfor
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NOTES TO THE CONSOLIDATED FINANCIAL
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INDEPENDENT AUDITORS’ REPORTto th
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NOTES TO THE COMPANY FINANCIAL STAT
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FIVE-YEAR FINANCIAL REVIEWfor the y
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DEFINITIONSAn explanation of some o
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ORDINARY SHAREHOLDING ANALYSESListe
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ADMINISTRATIONSABMiller plc(Registr
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