WiB
inek
WHO SAYS JANUARY
HAS TO BE DRY?
85.6mhl €7,429m
35.5% €1,204m
13.4mhl 29.9%
Americas
We delivered strong revenue and
profit growth driven by performance,
premiumisation and continuous cost
savings. Heineken® performed very
well with double-digit growth.
O O Qs
Report of the Executive Board
Report of the Supervisory Board
Financial Statements
Sustainability Review
Heineken N.V. Annual Report 2019 O
Other Information
Key brands:
Heineken®
Tecate
Dos Equis
Schin
Lagunitas
Consolidated beer volume Net revenue (beia)
(2018: 83.3mhl) (2018: €6,781m)
Consolidated beer
volume a of total
(2018: 35.6%)
Operating profit (beia)
(2018: €1,118m)1
Heineken® volume
(2018: 11.5mhl)
Operating profit (beia)
as of total
(2018: 29.4%)1
Both Brazil and Mexico delivered solid results,
driving profit growth in the region.
Beer volumes grew strongly in Brazil, especially
across premium and mainstream portfolios.
Brazil is now the largest Heineken® market globally.
The outcome of the Arbitral Court in October
2019 did not disrupt our business. We continued
to operate effectively with the current dual route
to market, while preparing for a smooth transition
to a single distribution system by March 2022.
In Mexico, we delivered robust profit growth
including double-digit growth of Heineken®.
The impact of our renewed contract (announced
on 26 February 2019) with OXXO, the Mexican
chain of convenience stores, is in line with
expectations. Our SIX stores expansion continues
to be successful. At the end of 2019 we had over
13,000 stores.
The US beer market remains challenging and
continued to decline in 2019. We have positive
trend changes with Heineken® and Dos Equis,
thanks to more focused campaigns. Heineken® 0.0
has been the fastest growing brand extension in
the US and this has had a positive halo effect on
the Heineken® brand.
Water balancing in Mexico
Since the end of 2018, we have
achieved our water balancing target
for the Monterrey Brewery, returning
1.15 million cubic metres of water
per year to the local watershed.
We will continue with reforestation
and maintenance efforts until the end
of 2020 to ensure the full restoration
of the ecosystem and the preservation
of 2 million planted trees committed
for 2020 in Mexico.
Lagunitas' US market share is stabilising in the
context of fierce craft competition. In September
2019, the biggest Lagunitas circus event was
attended by 12,000 people. The brand is now
being sold in 35 markets globally.
In May 2019, we acquired a majority stake in
Biela y Bebidas del Ecuador, a fully operational
brewery in Ecuador. With its favourable
demographics, flourishing tourism industry and
GDP growth, it offers strong potential to grow our
premium offering in Ecuador, led by Heineken®.
1 Restated for IAS 37.
Heineken®0.0
in the Americas
Heineken® 0.0 is now sold in the
US, Canada, Mexico, Puerto Rico,
Chile, French West Indies and
West Caribbean.
