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NETHERLANDS: Heineken savings scheme to boost 2013 - analyst

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Heineken can expect a “significant” margins boost this year as its global costs programme finally kicks in, an analyst has said.

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The Dutch brewer last year saw savings from its Total Cost Management (TCM) activity swallowed up by an 8% rise in input costs, analyst Bernstein said following the release of Heineken's full-year results today (13 February). This year, “slight” input cost inflation will see benefits from the three-year EUR500m (US$674m) scheme “hit the bottom line”, Bernstein predicted.

A further EUR25m in savings will come from synergy benifits from Heineken's acquisition of Asia Pacific Breweries, which is in its final stages of completion.

Earlier today, Heineken posted healthy rises in profits and sales for 2012. Group volumes also increased, by 3.4%, and international sales of brand Heineken were up by 5.3%.

However, analyst UBS warned that organic sales and EBIT were “disappointing”.

Meanwhile, Heineken will spend EUR100m on implementing its Global Business Services (GBS) organisation to the end of next year, Bernstein said. GBS was launched in 2010 to help the brewer control costs more tightly.

For just-drinks' coverage of Heineken's full-year results, click here.


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