I n novation
Outlook for 2003
I LOVE FOOTBALL, MY KJOS
MY JOBTHERE'S NOTHING
BETTER THAN SEEING THE
SMILES ON PEOPLES FACES
WHEN THEY HEAR THEIR
FAVOURITE TUNE-
to continue. Other contributory factors, apart from the
ongoing improvements in our business processes, will be
the reorganisation projects in Spain and the Netherlands
and the closure of one brewery in Poland.
Profit forecast
Our results are affected from year to year by factors which
are difficult to predict such as exchange rates, govern
ment policy and the weather. Further in 2003 higher pen
sion charges, the cost of launching Fleineken beer in the
premium segment in the United Kingdom, the effects of
the weaker dollar, the deteriorating economic situation
in many countries, will also play a role. The newly acquired
breweries will deliver a positive contribution. Despite
these uncertainties, Fleineken expects further growth
in net profit in 2003. The possible impact on our results
of increasing international tensions can't be predicted.
We shall also realise a non recurring after tax gain of
€73 million in 2003 on the sale of our 15% stake in the
Argentinian brewer Quilmes International (Bermuda) Ltd.
We remain positive regarding the longer-term profit
outlook, given the success of our corporate strategy,
the strength of our brands, our international coverage,
the current debt capacity at our disposal and our exten
sive international experience.
You have to work hard to keep
your place among the leading
international brewers. Stand
ing behind Heineken, Amstel
and our other brands is a global
organisation working constant
ly to respond to the changing
needs and wishes of custo
mers, consumers and the wider
community. Heineken strives
for innovation in all links in the
supply chain. Recent innova
tions include ingenious
dispensing systems, advances
in quality and safety monitor
ing in the brewing and bottling
processes, imaginative new
packaging designs, welcoming
themed bars, interactive com
munication with our target
groups and new approaches to
understanding the needs of
young adults. Some examples
are given in this annual report.
