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Asia Pacific
Adapting to short-term
challenges to capture
future growth
“As we adjusted for challenging
circumstances in 2023, our focus
remains on value creation through
our balanced portfolio, consumer-
driven innovations, and high-value
product and packaging offerings.”
17.7%
€4,157m
21.7%
€926m
43.0mhl 11.4mhl
Introduction
Sustainability
Review
Other
Information
Financial
Statements
Report
of the
Supervisory
Board
Report
of the
Executive
Board
Jacco van der Linden
President, Asia Pacific
In APAC, we aim to deliver growth at attractive
operating profit margins through a balanced portfolio
of brands led by premiumisation and innovation,
targeting the region's rapidly growing middle class,
who demand more varied and meaningful
experiences. To strengthen our ability to deliver
disruptive and scalable product innovations, we
launched our Innovation Hub in Singapore in
2023 and set-up a Regional Consumer Market
Insights team.
We are on a journey digitally enabling our route-to-
consumer across the region. As of 2023, 60% of our
fragmented trade revenues are coming through our
eB2B eCommerce platform in Vietnam, Cambodia,
New Zealand, Malaysia, Singapore, Indonesia,
Myanmar and New Caledonia. This lays an important
foundation for enhanced service for our customers
and bring value across the entire value chain.
We strengthened our Revenue Margin Growth (RMG)
capabilities to enable us to drive value for consumers,
customers and our business through pricing and non
pricing levers.
Finally, we are proud of our Diversity, Equity and
Inclusion (DEI) agenda progress. 72% of our
leadership in our markets are now regional talents,
and 26% of our senior management positions are
held by women, supporting our global goal of 30% by
2025. This progress is achieved through the BOOST
(Build Our Own Sustainable Talent) programme,
where we aim to grow our leaders for APAC and
HEINEKEN worldwide. The main programme,
Management Team FastTrack (MTFT), has welcomed
109 leaders from 19 operating companies since 2019.
Furthermore, we continue to make strides in achieving
net zero emissions in production, achieving 79%
renewable energy in our breweries across the region.
Malaysia achieved net zero carbon emissions in its
breweries, successfully transitioning to 100%
renewable electricity through the Renewable Energy
Certificate (REC) programme and installing renewable
energy solutions on site. Additionally, Multi Bintang
Indonesia has built biomass plants for each of its two
breweries, lowering emissions by 11 and HEINEKEN
Malaysia’s rooftop solar panels will cover an estimated
14% of its annual energy consumption, once
operational.
Heineken
N.V.
Annual
Report
2023
Heineken®
volume
(2022: 9.5mhl)
Consolidated
beer volume
as of total
(2022: 18.7%)
Net revenue
(beia)
(2022: €4,652m)
Operating
profit (beia)
as of total
(2022: 28.1%)
Operating
profit (beia)
(2022: €1,235m)
After a record-breaking performance in 2022,
HEINEKEN faced short-term growth challenges in
Vietnam in 2023. Despite the slowdown in this key
market, we increased our market share in most of our
Asia Pacific (APAC) markets, demonstrating the
region’s long-term potential for HEINEKEN.
Our flagship premium brand, Heineken®, achieved
a remarkable 20% growth driven by China and
Vietnam. In India, our flagship brand, Kingfisher,
reached all-time high volumes, reinforcing its position
as the largest and most iconic Indian beer brand.
We also continue to grow our volume market share
and appeal to a new generation of beer enthusiasts
in India by introducing innovations such as Heineken®
Silver draught.
Our power brand innovations, such as Heineken® Silver
and Tiger Crystal, grew by 42%, demonstrating our
ability to connect with new consumers and meet
changing consumer needs. We launched Tiger Soju
in markets including Indonesia, Singapore, Taiwan
and Vietnam. This easy-to-drink lager is infused
with a touch of soju and comes in various flavours,
creating exciting new experiences for Gen Z
consumers of legal drinking age. This innovation
helped us expand into new segments, occasions
and consumer groups, driving incremental growth.
Consolidated
beer volume
(2022: 48.0mhl)
KUOS* jjjTS;
Key brands:
Kingfisher
Bia Viet
Heineken® Silver
Tiger Crystal T Éh
Bintang flk B9
Of SI
