REASON FOR
O P T I
I S
HALF-YEAR RESULTS
Increased turnover
ANTHONY RUYS 1*1
Over the first six months of 2003 Heineken achieved a net profit
of 400 million. Compared to the first half of 2002, the volume
of sales increased by 9% to 45.3 million hectolitres. The Heineken
brand also showed good growth, with sales up by 3%. Chairman
of the Executive Board Anthony Ruys is optimistic: "Heineken is
developing well. World-wide we have been able to strengthen
our company's position."
Profit climbed by 21% compared to the first half of 2002. This
increase is flattered, since it is due in particular to the sale of the
interest in Quilmes, the Argentinian brewery group. If this exceptional
income item of 71 million is excluded, the net profit amounts to
334 million, an increase of 1% on the first six months of 2002.
Autonomous profit is the best way to measure the increase in
profitability, and it showed a growth of 6%. Autonomous growth is
what the company really achieves and it has increased thanks to
higher beer sales, better selling prices, mix improvements and
lower costs. Thanks to an improved sales mix, higher selling
prices and higher beer sales, autonomous turnover was up by 5%
in the first half of 2003. The consolidation of new interests, such
as Al Ahram in Egypt, CCU in Chile and Karlsberg in Germany, also
brought a growth of 5% in turnover. Against this, lower exchange
rates had an adverse impact.
The figures show that during the first six months of this year there
was a marked increase in sales in Nigeria, Spain, Russia, Poland
and Italy. In France, Greece, the United States, Indonesia and
The Netherlands sales decreased. Sales of the Heineken brand
rose, despite the adverse economic climate. World-wide, sales
increased during the first six months by 3% to 8.9 million hecto
litres. The popularity of Heineken Beer grew in Italy, Spain and
Poland in particular. Sales of Amstel remained stable at 5.1 million
hectolitres, because consumers in Spain, Cameroun and
South Africa brought an increase in sales but Amstel sales in
Greece and France decreased.
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