just The Preview - Heineken Q3 & YTD
Heineken will release its YTD results on Wednesday
Heineken will report its third-quarter and year-to-date results on Wednesday (23 October). Here just-drinks takes a look at the company's highs and lows in the three months to the end of September.
- In early-July, the brewer confirmed its intention to sell off its Hartwell division in Finland to Denmark's Royal Unibrew for EUR470m (US$613m). The move is in Hartwall's best interests, Heineken said.
- Also in July, Heineken's Mexican unit and Anheuser-Busch InBev's Grupo Modelo received approval from the country's Federal Trade Commission for their commitments following SABMiller's charges of monopolistic practices in the country's brewing sector. The concessions were dismissed by SABMiller a day later, with the brewer saying that the two "did not go far enough to materially change the conditions for access to the beer market and for real competition”.
- Then, in August, the two families that control the brewer said that they plan to buy “up to a maximum” of EUR100m (US$133.3m) more shares in Heineken Holding, the unit which owns half of Heineken. The Heineken and Heyer families hold 51.083% of Heineken Holding.
- Early-September saw the head of Coca-Cola FEMSA call on Heineken to boost the bottler's margins in Brazil. Coca-Cola FEMSA handles about 40% of Heineken's sales in the country and "wants to have more leverage and to convince the Heineken people that we need better margins for the following months", said Carlos Salazar Lomelín. In response, Heineken would only say that its agreement with Coca-Cola FEMSA is "a great partnership for both companies".
In the first six months of 2013:
- Net profits fell by 11% to EUR734m (US$983m)
- Net sales were down by 7% to EUR9.35bn
- Operating profits rose by 17% to EUR1.22bn
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