FDBusiness.com

Profit Warning By Heineken

 Breaking News
  • New Chief Executive For Tate & Lyle Tate & Lyle, a global provider of ingredients and solutions to the food, beverage and other industries, with operations in over 30 locations worldwide, has appointed Nick Hampton as Chief Executive with effect from 1 April 2018. Nick Hampton is currently Chief Financial Officer and a Board member of Tate & Lyle. Nick Hampton succeeds Javed [...]...
  • Müller Direct Next Generation Müller, Britain’s biggest producer of branded and private label fresh milk, butter, yogurt, desserts and dairy ingredients, has announced a new initiative to help ambitious young farmers build vibrant dairy businesses for the future. Müller will initially work closely with a group of approximately 25 Müller Direct young farmers who have the potential to create [...]...
  • New Geographical Indication From the Netherlands The Commission has approved the addition of a new product from The Netherlands to the quality register of Traditional Speciality Guaranteed (TSG). ‘Suikerstroop’ is dark brown syrup made of the syrupy liquid left behind during the production of sugar from sugar beet or sugar cane. It has a sweet taste due to its large sugar content (at [...]...
  • Firmenich Extends Capability to Design Innovative and Sustainable Natural Ingredients Firmenich has established an exclusive partnership with Blue Marble Biomaterials, a leading US biotechnology company specialized in natural and sustainable ingredients. With this partnership Firmenich gains direct access to key expertise, from biomimicry to non-GM fermentation, enabling the design of innovative and sustainable natural ingredients for the food, beverage and flavor industries. “At Firmenich, we are committed to [...]...
  • Tetra Pak Pledges Support For EU Plastics Strategy Tetra Pak has pledged to support the European Commission’s Plastics Strategy, announced as part of the EU Action Plan for a Circular Economy. The company will: Work with industry partners to ensure that by 2030, recycling solutions are in place for all components of beverage cartons so they can be fully recycled across Europe; Substantially increase the use [...]...

Profit Warning By Heineken

Profit Warning By Heineken
October 24
08:41 2013

A 2% organic decline in group beer volume to 52.8 million hectolitres in its third quarter, primarily driven by market weakness in Central & Eastern Europe, where volume fell by 7%, has prompted Heineken to warn that it now expects 2013 net profit (beia) to decline in the low single-digits, on an organic basis. The international brewer had previously forecast that 2013 profits would be broadly in line with the previous year.

Heineken is continuing to make strong progress under its current TCM2 cost management programme. In response to the ongoing challenging trading environment in Europe, Heineken is further intensifying efforts to optimise its cost structure in the region, including head office functions. In the second half of 2013, Heineken will incur pre-tax exceptional costs of approximately Eur70 million related to right-sizing and other restructuring activities across Europe. These activities are expected to generate recurring annualised benefits from 2014 onwards and form part of the additional Eur100 million of cost savings under the current TCM2 programme ending 2014.

Jean-François van Boxmeer, chairman and chief executive of Heineken, comments: “Underlying trading conditions across Europe remain challenging, as evidenced by a weak consumer environment in Central & Eastern Europe in the quarter. As a consequence, we are accelerating efforts to drive improved efficiencies, particularly in Europe, through restructuring and other cost related initiatives. Looking forward, we remain confident that our broad geographic spread and strong brand portfolio will continue to support long-term growth for Heineken.”

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • January 19, 2018International Green Week
  • January 20, 2018Sigep Rimini
  • January 24, 2018International Bulk Wine and Spirits Show (IBWSS)
  • January 28, 2018ProSweets Cologne (Int'l Sweets and Biscuits Fair)
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements