Americas (continued)
The USA
Canada
Latin America
and Caribbean
Report of the Executive Board
Regional Review
Consolidated beer volume:
7.1 million hectolitres
Market share: 3.8%
The beer market declined slightly. Due to
downtrading, the economy segment grew
4 per cent whilst the import segment
declined 9.8 per cent.
Organically, EBIT of Heineken USA improved
substantially. The key drivers were the price
increase across the Dutch portfolio
implemented at the end of 2008, lower
marketing rates and the positive effect of the
TCM initiatives which generated significant
savings in marketing, logistics and general
expenses. Reported EBIT was reduced by
EUR 17 million due to the weaker dollar.
Beer volume of Heineken USA was 10.7 per
cent lower due to the decline in the import
segment and price competition. Volumes of
the Dutch portfolio were 10.4 per cent lower,
whilst the Mexican portfolio grew 1.0 per cent.
Heineken® declined 10 per cent. Tecate Light
and Dos Equis performed strongly, growing
14 per cent and 20 per cent respectively.
Volume of Newcastle Brown Ale, imported
from Heineken UK, increased by 1.7 per cent.
Depletions - sales by distributors to retailers -
of the Dutch portfolio in 2009 were in line
with sales, whilst depletions of the Mexican
portfolio were higher, at 2.4 per cent.
Consolidated beer volume:
0.5 million hectolitres
Market share: 2.1%
The market was affected by the difficult
economic environment and volume of
imported Heineken declined by high single
digits, but witnessed an improvement in the
fourth quarter.
Consolidated beer volume:
1.8 million hectolitres
Heineken operates in the region through:
Controlled operations: Panama, Bahamas,
St. Lucia, Martinique and Suriname
CCU, a joint venture with leading position
in Chile and number two in Argentina
A minority stake in F1FC0 in Costa Rica
Exports to a number of markets of which
Puerto Rico is the most significant.
Beer consumption in Chile decreased. CCU's
volume was broadly stable organically.
Volume of the Heineken brand increased
8.3 per cent.
Despite a challenging trading environment,
volume in the Caribbean markets and in
Latin America grew slightly. The Heineken
brand grew in Brazil (+52 per cent) and
Panama (+4.5 per cent).
EBIT grew double digits as a result of lower
overhead costs, and better profitability of the
operations in the Bahamas and Costa Rica.
38 Annual Report 2009 - Heineken N.V.