Africa, Middle East
and Eastern Europe
15.0
€376m 10.5%
38.4mhl
19.2
4.7mhl
€3,203m
'V
17
Regional Review (continued)
^ÊlÊÈËÊBf
Our performance was resilient, despite a tough trading
environment across the region.
Thousands of local farmers in Sierra Leone have a
regular income by supplying sorghum to our brewery.
Our local beer Salone is made from 100% locally
grown sorghum.
Strongbow launched the 'Nature Remix' campaign
in Johannesburg, focusing on bringing nature back
to the city and making it a more energising and
beautiful place to live.
IVOIRE
This newly launched beer in Ivory Coast contains local rice.
Heineken NV.
Report of the
Report of the
Financial
Sustainability
Other
Annual Report 2016
Introduction
Executive Board
Supervisory Board
Statements
Review
Information
Macroeconomic challenges, rising
inflation and currency pressure weighed
on performance, particularly in Nigeria.
Continued inflation and low consumer
confidence had an impact on our Russian
business, while in Egypt adverse economic
conditions also impacted performance.
In the Democratic Republic of Congo,
we had to take an asset impairment
charge of EUR 286 million reflecting the
consequences of the more challenging
market conditions on our long-term cash
flow forecasts.
The strategy of having a balanced portfolio
of premium, mainstream and economy
brands is critical to our success in the region.
We continued to invest in our existing brands
and in product innovation. We premiered
a new brand, Ivoire, in the Ivory Coast and
our new brewery in the country is on schedule
to officially open in Q1 2017.
In South Africa, Heineken® performed well
with double digit volume growth. In addition,
Strongbow Apple Ciders shows early signs
of success in one of the most important
cider markets in the world. Supported by our
exciting Nature Remix campaign which was
activated in 21 countries, we successfully
added innovations such as Red Berry and
Gold Apples to the market.
Our local sourcing projects in the region
continue to contribute positively to the
communities where we operate. In 2016,
we launched Salone, our 100% locally sourced
sorghum beer in Sierra Leone, and our newly
launched Ivoire beer in Ivory Coast contains
local rice.
Key brands
Heineken®, Primus, Amstel, Walia, Goldberg
Regional revenue as of total
Consolidated
beer volume
(2015: 35.9mhl)
Consolidated beer
volume as of total
(2015: 19.1%)
Heineken® volume
in premium segment
(2015: 4.6mhl)
Revenue
(2015: €3,263m)
Operating profit (beia)
(2015: €579m)
Operating profit (beia)
as of total
(2015: 17.1%)