just The Preview - Heineken's Q4 & FY
Heineken will announce its FY results on Wednesday
Heineken will report its fourth-quarter and full-year results on Wednesday (12 February). Here just-drinks takes a look at the company's highs and lows in the three months to the end of December.
- In October, Heineken appointed a new managing director for its Ireland business. Maggie Timoney took on the role left vacant by David Forde, who became MD of Heineken UK in May.
- Also in October, the company unveiled its at-home draught beer dispenser, The Sub. The appliance has been designed to house a two-litre keg of beer with the Heineken, Affligem, Desperados and Birra Moretti Baffo d'Oro beer brands set to feature from launch.
- At the Tax Free World Association exhibition in Cannes at the end of October, Heineken announced it was expanding the footprint of its New Zealand craft beer range, Monteith. The company played down suggestions that this was its big play in the craft beer category, but was more a chance to give a small label a more international platform.
- At the same time, Heineken's US division lost its chief marketing officer to Weight Watcher's. The company replaced Lesya Lysyj this month.
- Heineken also renewed its headline sponsorship of the UEFA Champions League. The brewer will partner with the tournament until at least the end of the 2017/18 European football season.
- Fraser & Neave agreed in November to drop a clause that had prevented Heineken from selling soft drinks in Singapore. The move with Heineken's former JV partner came after Heineken acquired F&N’s 50% stake in Asia Pacific Breweries in 2012.
- In December, Heineken's CEO Jean-François van Boxmeer said the company needs to make its brands "sexy" in Europe to attract younger drinkers as baby boomers disappear from the beer market.
- In the same month, Heineken raised its stake in India's United Breweries by 1.3%.
- Net profits were up by 36.7% to EUR227m (US$295.2m)
- Net sales increased by 8.1% to EUR4.15bn
- Operating profits “increased in the mid-teens”
- Net profits fell by 11% to EUR734m
- Net sales were down by 7% to EUR9.35bn
- Operating profits rose by 17% to EUR1.22bn
- Net profits fell by 15% to EUR483m
- Net sales flat at EUR5.66bn
- Operating profit "was slightly lower"
To read a preview of Heineken's Q3 results, click here.
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