Heineken's sales in the Americas
increased from 8.4 million hectolitres
to 12.5 million hectolitres, mainly due
to the proportional consolidation,
via our interest in CCU, of our busi
nesses in Chile and Argentina as from
1 April 2003. The businesses in the
United States, Central America and
the Caribbean also contributed to the
growth. The results in all markets
were adversely affected by the
strength of the euro, especially those
into which Heineken beer is imported
from Europe.
Heineken has built a strong position in
the Americas, with exports to the United
States, Central and South America and
Regional Review
