Netherlands: Heineken achieves solid volume growth in first four months of 2007
Heineken N.V. announced that it has achieved good beer volume growth across all regions in the first four months of 2007, according to company’s press release, May 16. The announcement was made ahead of Heineken’s Financial Markets Conference in Miami, USA. Heineken will leave its previously communicated full-year guidance of 10-13% organic net profit growth unchanged as the full-year result is heavily dependent on performance in the peak-selling season, from May to August.
In the first four months of 2007, consolidated beer volume grew 11.3% to 34.9 million hectolitres with first-time consolidations accounting for 0.9% of the increase. Due to seasonality in the beer industry, volume and profitability in the first four months of a year is relatively low in the Northern hemisphere. In the first four months of 2006, Heineken’s consolidated beer volume and net profit (beia) accounted for 28% and 21% respectively of the full-year 2006 numbers.
Consolidated beer volume (first four months (‘000 hls))
- Western Europe 9,443 (2007), 9,031 (2006), 4.6%
- Central and Eastern Europe 13,937 (2007), 12,253 (2006), 13.7%
- Americas 4,367 (2007), 4,131 (2006), 5.7%
- Africa 4,633 (2007), 3,955 (2006), 17.1%
- Asia Pacific 2,494 (2007), 1,971 (2007), 26.5%
- Total 34,874 (2007), 31,341 (2006), 11.3%
Volume in the first four months of 2007 was favourably affected by the strong performance of the Heineken brand, which saw double-digit growth in the international premium segment of the world beer market. In addition, the company’s local brand portfolios developed well across all regions, in part as a result of the mild winter in large parts of Europe.
In the Americas, consolidated volume grew almost 6%. Volume of Heineken USA - excluding Femsa’s Mexican beer brands - increased almost 5% thanks to the general consumer trend towards light and premium beers. Heineken Lager and Heineken Premium Light benefited from this trend and grew despite the impact of adverse weather conditions. Heineken Premium Light is on track to meet its volume target of more than 1 million hectolitres sales volume for 2007.
In Africa and Asia, strong economic growth continued to boost beer volume.
Fit2Fight, Heineken’s fixed cost saving programme, is proceeding according to plan and is expected to deliver incremental gross savings between €135 million and €155 million before taxation for 2007.
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