1 31. VW.'. North American market, including Canada, volumes were flat at 6.9 million hectolitres. Amstel Light volumes were under pressure, but the volume trend improved in the second half of the year thanks to a brand repositioning and a new targeted marketing campaign which both helped to address the issue. Some trends have crystallised in the US beer market: first, the increasing competition of wine and spirits, secondly, the aggressive discounting by domestic brewers to face pressure on their volumes, and thirdly the move towards light beers as well as imported and specialty beers by consumers. We will exploit opportunities in the luxury segment of the light market and strengthen our market position l the premium import segment. The new management team appointed during the year at our US operations is vigorously addressing ne challenges of the market by bolstering our brand portfolio through the introduction of Heineken remium Light Lager, as well as innovative packaging nd draught beer systems. )ur goal for 2006 is to consolidate our position l the US market and to fully exploit the potential if the expanding import and light beer segments, he launch of Heineken Premium Light will be jpported by additional marketing campaigns. United States Total beer volume Market share* Market position* •imported beer segment 6.9 million hectolitres 30.3 percent 2nd Revenues increased by 12.4 percent, whereas EBIT fell as a result of the negative exchange rate effect and higher marketing and packaging costs. The currency impact cut €67.3 million from EBIT. However, a positive price mix and the first-time consolidation of the distribution agreement with FEMSA, boosted EBIT. The USA is one of the biggest contributors to Heineken's profit and the profitability per hectolitres in euros remains high. Market share of Heineken in the USA in its import segment decreased. Total beer volumes (including Canada) edged slightly up to 19,000 hectolitres year-on-year. Total depletions - sales by distributors to retailers - were almost fiat. Depletions of the Heineken brand rose though. The Heineken brand performance varied across the regions: good results were recorded mainly in the Southern and Western regions, while the pressure, especially on prices, remained high in the Northeast. Heineken USA, the nation's largest beer importer, has been a proud sponsor of the US Open for the past 13 years. Heineken's distinction as exclusive beer sponsor of the annual tournament includes on-court and off-court signage and the Red Star Café where tennis fans can enjoy a Heineken or Amstel Light while viewing matches on closed-circuit TVs. In 2005, Heineken once again presented the Heineken Star Award, honouring the all-time greatest moments in the US Open's history, while raising funds for charitable organisations. Heineken N.V. - Annual Report 2005

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