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post #1 of 19 (permalink) Old 08-27-2008, 06:25 AM Thread Starter
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Way To Go, Team BWOT!

Truly a global effort...the folks over at Heineken thank you, thank you, thank you!

Heineken profit climbs 35% in first half - MarketWatch
Heineken first-half profit climbs 35%
By Steve Goldstein, MarketWatch
Last update: 5:40 a.m. EDT Aug. 27, 2008

LONDON (MarketWatch) -- Dutch brewer Heineken on Wednesday reported a 35% rise in first-half profit, buoyed by drinkers opting for more high-end beers, slashing costs and the company's acquisition of half of Scottish & Newcastle.

Heineken (NL:00916: news, chart, profile) , which is also the maker of Amstel Light, Dos Equis and Tiger beer, said its first-half profit rose to 407 million euros ($598 million) from 302 million euros.

Revenue rose 17% to 6.41 billion euros, or a 7% rise on a comparable basis.

The world's number-four brewer by volume said its profit rose 7% to 925 million euros when stripping out exceptional items and goodwill amortization. By that measure, Heineken's profit wasn't as strong as some analyst estimates.

Still, Heineken shares rose 2.5% in morning Amsterdam action. Heineken shares have dropped about 30% over the last year.

"Heineken's first-half results could be described as a relief especially taking into account the all time high 10% outstanding short interest," said Nico Lambrechts, an analyst at Merrill Lynch.

"The results contain something for the bears and the bulls, but we do not believe the market will materially increase full year earnings at this stage with the key summer consuming months nearly completed," he added.

Like all brewers, Heineken is faced with rising input costs, both for the grains used to produce the beer and for the metals used to package it.
Per hectoliter, input costs rose 15%, Heineken said.

Heineken has employed hedges to compensate this year's raw material and packaging costs and has in place 50% of what's needed for next year, when it expects prices to rise by another 8%.

But the company recorded beer volume growth of 15%, much of that coming on the Scottish & Newcastle deal. Heineken and Carlsberg jointly bought Britain's Scottish & Newcastle for 7.8 billion pounds, or roughly $15 billion, and then broke the company in half.

Heineken became the number-one brewer in the U.K. and became the number-two position in Portugal, Finland and Belgium through the Scottish & Newcastle deal, which added brands like Newcastle Brown, Kroenenbourg 1664 and Strongbow to Heineken's portfolio.

The Scottish & Newcastle deal, which closed in May, contributed 28 million euros to adjusted profit and 608 million euros to revenue.

Heineken said it would have added 32 million euros to earnings and 1.51 billion euros to revenue had it closed on the beginning of the year.

Last week, Heineken announced more savings from the deal, anticipating 184 million euros a year rather than 152 million euros.

Slowing sales in Western Europe, U.S.
The rest of the volume growth was driven by strong performances in Africa, Central and Eastern Europe and the Asia Pacific region, which offset slowing volumes in Western Europe and the U.S.

Price rises, weakening economies and the implementation of smoking bans hurt sales in Western Europe, while in the U.S., less promotion and weak trade hurt Heineken-branded lager sales. Amstel Light sales also dropped.
Worldwide, Heineken-branded beer volumes grew 5.8%, allowing it to gain market share in the international premium segment.

It's also cut costs as part of its Fit 2 Fight program, mostly on supply-chain initiatives but also on the implementing of shared service centers in Poland and Italy.

For the year, Heineken is targeting at least mid-single digit, organic profit growth -- by that measure, its profit grew 7.5% during the first half -- and for the volume trends to continue into the second half.

Heineken hadn't previously issued a profit forecast for the year.
It's going to pay a dividend of 28 eurocents a share, up 17% from last year.
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post #2 of 19 (permalink) Old 08-27-2008, 06:43 AM
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Who is drinking the stuff?

ERIC.

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post #3 of 19 (permalink) Old 08-27-2008, 07:01 AM
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weren't I

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post #4 of 19 (permalink) Old 08-27-2008, 07:06 AM
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Hawaii loves da green bottles.

http://i30.photobucket.com/albums/c328/nutz4benz/W123/6C3A9CA5-EDFF-4834-8125-34B70B20A676_zpsiyesrawz.jpg
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post #5 of 19 (permalink) Old 08-27-2008, 07:09 AM
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That's one of my favs too
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post #6 of 19 (permalink) Old 08-27-2008, 07:09 AM
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Quote:
Originally Posted by eric242340 View Post
Who is drinking the stuff?
i've switched over to heine light, don't care for regular heine, just to bitter

used to be a labatts blue boy, boycotting that for their change to a twist off cap and now the switch to a 11.5 oz bottle
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post #7 of 19 (permalink) Old 08-27-2008, 07:28 AM Thread Starter
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Ed Freeman would respond, but he's hung over from emptying another mini keg.
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post #8 of 19 (permalink) Old 08-27-2008, 07:37 AM
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Doesn't ed drink in moderation?

Quis custodiet ipsos custodes?

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post #9 of 19 (permalink) Old 08-27-2008, 07:40 AM Thread Starter
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Barrrrrump pum pum....
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post #10 of 19 (permalink) Old 08-27-2008, 07:43 AM
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Doesn't ed drink in moderation?
Moderation, strange name for a Bar?

ERIC.

___________________________________________
"I am enclosing two tickets to the first night of my new play; bring a friend, if you have one."
- George Bernard Shaw to Winston Churchill.

"Cannot possibly attend first night, will attend second ... if there is one."
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