Chief Executive's Statement Social networking since 1864 Report of the Executive Board Contents Overview Report of the Executive Board Report of the Financial Other Supervisory Board statements information Left Jean-Franqois van Boxmeer Chairman of the Executive Board/CEO Right René Hooft Graafland Member of the Executive Board/CFO 2014 has been an excellent year. We have continued to bring enjoyment to consumers around the world while driving top and bottom line growth. Group revenue grew 3.3 per cent organically, with group revenue per hectolitre up 1.4 percent. Group operating profit (beia) grew 7.8 per cent organically. Our strong performance reflects the success of our strategy. We continued to invest in our portfolio of brands and we have significantly improved commercial execution. We combined this with compelling consumer marketing and a powerful innovation agenda that contributed €1.5 billion to our revenues. As a result, Heineken® premium volume grew 5.1 per cent and a number of our global brands saw double digit growth. At the same time we have continued to focus on driving cost out of the business. Celebrating 150 years Throughout the year we have taken time to celebrate the journey that was started 150 years ago by Gerard Adriaan Heineken. It is clear that the values he established when the Company was just one brewery in Amsterdam continue to burn strongly today, across 178 countries and in the hearts and minds of our 81,000 employees. It is the continued passion for guality, for brands that people love, for the enjoyment of life, all underpinned by respect for people and the planet which gives me confidence that the best years for HEINEKEN remain ahead of us. Benefits of a balanced geographic footprint The steps that we have taken to transform our geographic footprint over the last 10 years are now being consistently reflected in our results. In 2014 emerging markets in the Africa Middle East, Americas and Asia Pacific regions contributed 50 per cent of revenue and 51 per cent of profit. In Western Europe the focus on innovation and higher brand investment led to market share gains across virtually every market. Market conditions in Central Eastern Europe continued to be challenging but our focus on value over volume and the premium segment should enable us to deliver a stronger performance over time. In every region we are putting greater emphasis on strengthened sales execution, sampling activities to support new product launches, higher marketing investment and improving the effectiveness of promotional programmes. At the same time we are finding new ways to leverage our scale to drive cost out of the business and to improve the efficiency of our supply chain. The power of innovation This year our innovation rate reached 7.7 per cent. This is an excellent performance and is helping drive new interest in the beer and cider categories. We are meeting consumer needs across the world with great tasting no and low alcohol beers such as 0.0% MAXX and Radler 0.0%. New delivery systems are improving the guality of the beer we enjoy both in the bar and at home as well. Great ideas can come from anywhere. That is why we have created open sourcing projects like the Innovators Brewhouse to keep a steady pipeline of new thinking coming into the Company. Broad premium portfolio, led by Heineken® The Company continued to strengthen its leadership position in the premium segment. The Heineken® brand had an excellent year driven by strong global campaigns, brought to life in the markets. The 'Man of the World' platform continues to inspire ideas that capture the imagination of consumers. A good example of this is 'The City' campaign. More than 1 billion bottles, localised with the names of more than 50 cities, were created. This is helping to fuel the growth of Heineken® in the world's leading cities, from New York to Lagos and from Mexico City to Shanghai. 3 Heineken N.V. Annual Report 2014

Jaarverslagen en Personeelsbladen Heineken

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