Heineken Q4 & full-year results – Preview

Heineken will release its Q4 and full-year results on Wednesday (10 February). Here, just-drinks takes a look at the company’s highs and lows in the three months to the end of December:

• At the start of October, Heineken purchased Diageo’s stakes in two beer businesses, for US$780.5m. The deals included a 57.87% shareholding in Jamaican Red Stripe brewer Desnoes & Geddes (D&G) and a 49.99% stake in Singapore-based brewer GAPL
• Staying on the acquisition trail, the brewer also completed its purchase of a majority stake in Slovenian brewer and soft drinks producer Pivovarna Laško
• A day later, Heineken secured a 50% stake in Californian brewer Lagunitas Brewing Co
• At the end of the month, the brewer released a year-to-date and third quarter trading update, in which total volumes for the three months to the end of September were up 6.7% – 5.4% in organic terms. Analysts were buoyed by the company’s performance, prompting observers to consider where the brewer would look next for its growth
• At the start of November, Heineken appointed Cindy Tervoort to the role of UK marketing director, following the promotion of Jacco van der Linden to MD of the group’s operating company in China
• Later in the month, the company unveiled plans for a new brewery in Brazil as its namesake beer brand continued to post growth in the South American country
• On the same day, Heineken said it had no plans to buy more craft brewers, after acquiring its 50% stake in Lagunitas
• Towards the end of November, the company signalled its ambitions for cider in the US. Heineken said the category could grow to 5% of the beer market, despite a recent slowdown
• At the end of November, Heineken bought another bank of shares in United Breweries, inching towards securing majority control of India’s market leader
• At the beginning of December, the brewer said it would appeal a EUR31.5m (US$33.4m) fine from Greek authorities for infringing fair practice rules, including offering incentives to retailers and wholesalers to only stock its beer
• A few days later, Heineken pulled in EUR460m (US$487m) from a note placement, three months after raising EUR500m from a separate note tranche

Q3 & YTD highlights

• Consolidated year-to-date sales were up 7.2% to EUR15.4bn (US$17bn)
• Total volumes in the first nine months of 2015 lifted 3.6% to 141.2mn hl
• Q3 sales rose 8% to EUR5.5bn
• Volumes in three months to end of September were up 6.7% to 51.2mn hl

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