just the preview – Heineken H1
On Wednesday (26 August), Heineken announces its first-half results.
Below, we take a look at the highs and lows of the last three months for the Netherlands-based company.
- Shortly after releasing its first-quarter results, Heineken said in April that it has secured finance to cover debt repayments for the next three years.
- In May, Heineken's Asian joint-venture with Fraser & Neave, Asia Pacific Breweries, posted a slight lift in profits, despite slowing sales in its second quarter.
- The long-running discussions between Heineken and United Breweries have rumbled on throughout the quarter, with no immediate end in sight.
- Also in May, Jeremy Blood, the managing director of Heineken's UK arm, stepped down from the position with immediate effect. Stefan Orlowski, Heineken's current group commerce director, replaced Blood in July.
- In June, Heineken confirmed it would close two breweries in Czech Republic as part of a three-year cost savings programme across the group.
- Then, earlier this month, Asia Pacific Breweries reported a 39% rise in net profits for the third quarter thanks to a one-off payment.
- Another senior departure was announced last week, when the president and CEO of Heineken USA, Don Blaustein, said he is to step down at the end of the month, following a "difference of opinion" on company strategy.
Heineken surprised many observers with the timing and swiftness of its deal to acquire FEMSA Cerveza, announced this week. Here's what analysts and other media have been saying about the deal....
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