Western Europe AMSTEL iORETTI €7,894 million €768 million €904 million 45.4 million hectolitres 31.1 per cent 7.4 million hectolitres Report of the Executive Board Regional Review .BIRRA Moretti BIRRA EBIT (beia) grew 17 per cent organically, primarily reflecting the achievement of significant TCM cost savings across the region, a strong profit improvement in the United Kingdom and an improved sales mix. This contributed to significantly higher operating profit margins. The reported change in revenue reflects a EUR280 million reduction related to the deconsolidation of the Waverley TBS distribution operation in the UK. The difference in organic change between consolidated beer volume and revenue is mainly due to the impact of a declining on-trade on the revenues of our wholesale operations. Group beer volume in the region declined 3.5 per cent on an organic basis as a challenging economic environment impacted consumption, particularly in on-trade channels in Italy, Spain, the Netherlands, the UK and Ireland. Volume grew in Finland and remained stable in Portugal, France and Belgium. Premium volume of the Heineken brand outperformed the overall regional volume trend following the success of new marketing initiatives and strong brand performances in France and Portugal. Revenue EBIT EBIT (beia) Consolidated beer volume Consolidated beer volume as of Group Heineken volume in premium segment Heineken N.v EBIT (beia) in the United Kingdom grew strongly, primarily driven by higher pricing and significant cost savings. This was achieved despite the overall beer market declining 4 per cent. Lengthy price negotiations with certain off-trade customers in the first half of the year adversely impacted volume and market share in the off-trade channel, part of which was recovered in the second half of the year. The closure of the breweries in Reading and Dunston, the divestment of Waverley TBS and the restructuring of S&N Pub Company increased efficiency and effectiveness. In Spain, the beer market contracted 1 per cent, with the effect of government austerity programmes impacting consumer spending, particularly in on-trade channels. A successful new marketing campaign supported growth of the Amstel brand. Whilst volumes of the Cruzcampo and Heineken brands were both affected by the overall market trend, the Heineken brand gained market share in the off-trade channel. Higher marketing investments in our brands were only partly offset by the benefit of realised cost savings, resulting in a decrease in EBIT (beia). Heineken France continued to gain market share. EBIT (beia) grew strongly driven by TCM cost savings, an improved sales mix and improved operating efficiencies at France Boissons, the wholly-owned distributor. The key brands, Heineken, Desperados, Pelforth and Affligem, all achieved solid growth. In Italy, volume declined 1 per cent, broadly in line with the market. The key brands Heineken and Birra Moretti grew, benefiting from effective trade marketing programmes and the successful introduction of 'Moretti Baffo d'Oro', a full-malt beer in the off-trade channel. Volume of the Dreher brand was broadly stable. The restructuring of the Partesa distribution business is well under way. EBIT (beia) was lower due to a higher provision for trade receivables. EBIT (beia) in the Netherlands was lower, as fixed cost savings and lower marketing expenditure could not fully offset the effects of a declining beer market on volumes. Heineken Netherlands gained market share in the on-trade, but lost share in the off-trade due to lower price levels of competitors. In the fourth quarter, Heineken Netherlands successfully launched Amstel Blond.

Jaarverslagen en Personeelsbladen Heineken

Jaarverslagen | 2010 | | pagina 22