just the preview – Heineken FY
Heineken announces FY results on Tuesday
Heineken is set to report its full-year results next Tuesday (23 February).
Here, just-drinks takes a look at the highs and lows for Heineken in the three months to the end of December.
- Back in October, Heineken highlighted the troubles facing brewers in Russia when it confirmed another wave of job cuts in the country. This time, the company said it would cut 140 jobs at its Ivan Taranov brewery in Novotroitsk.
- Towards the end of November, Heineken's CEO, Jean-François van Boxmeer, offered a sign of things to come, when he said that the firm "will participate" in what he believed was the continuation of consolidation in the global brewing industry.
- A week later, the brewer toasted the conclusion of long-running discussions with United Breweries about Heineken's disputed stake in the Indian firm, after Heineken bought Scottish & Newcastle's Indian operations in early-2008.
- In the UK, Heineken confirmed in December that it would withdraw its White Lightning cider brand as a result of concerns about white cider's public image in the country as a contributor to problem drinking.
- Although it didn't occur in the fourth quarter, the biggest news involving Heineken came last month, when the company surprised many by successfully acquiring FEMSA in Mexico. The purchase, which cost Heineken EUR3.8bn (US$5.5bn), saw the brewer snaffle FEMSA from under SABMiller's nose.
To read up on Heineken's third-quarter results, click here.
Sectors: Beer & cider
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