Dutch brewing giant Heineken said that it a better-than-expected rise in net profit in 2009 on Feb. 23.
“In one of the most challenging trading environments ever witnessed in our industry, we have delivered an outstanding financial performance, transformed our platform for future growth and built a more competitive business," chief executive Jean-Francois van Boxmeer said in a statement.
Heineken's net profit rose by 4.1 percent to 1.05 billion EUR (1.43 billion USD) last year compared to 1.01 billion EUR in 2008. This beat an average analyst forecast of 1.04 billion EUR compiled by Dow Jones Newswires.
Sales increased by 2.7 percent to 14.7 billion euros despite a 1.5 percent drop in the volume of beer delivered last year during the global economic crisis, the company said in a results statement.
"Strong pricing delivered stable revenues that compensated for lower volumes," van Boxmeer said.
Heineken said it would increase prices again in 2010 but not as much as last year.
"The global economic environment will continue to lead to lower beer consumption and down-trading in a number of regions in 2010," the company said.
"Price increases will be at levels well below those of 2009. However, Heineken aims to continue passing on excise duty increases through higher sales prices," it said.
Founded in the 19th century in Amsterdam, Heineken makes more than 200 different beers and ciders and employs more than 55,000 people worldwide./.
“In one of the most challenging trading environments ever witnessed in our industry, we have delivered an outstanding financial performance, transformed our platform for future growth and built a more competitive business," chief executive Jean-Francois van Boxmeer said in a statement.
Heineken's net profit rose by 4.1 percent to 1.05 billion EUR (1.43 billion USD) last year compared to 1.01 billion EUR in 2008. This beat an average analyst forecast of 1.04 billion EUR compiled by Dow Jones Newswires.
Sales increased by 2.7 percent to 14.7 billion euros despite a 1.5 percent drop in the volume of beer delivered last year during the global economic crisis, the company said in a results statement.
"Strong pricing delivered stable revenues that compensated for lower volumes," van Boxmeer said.
Heineken said it would increase prices again in 2010 but not as much as last year.
"The global economic environment will continue to lead to lower beer consumption and down-trading in a number of regions in 2010," the company said.
"Price increases will be at levels well below those of 2009. However, Heineken aims to continue passing on excise duty increases through higher sales prices," it said.
Founded in the 19th century in Amsterdam, Heineken makes more than 200 different beers and ciders and employs more than 55,000 people worldwide./.
