|Tiger and Heineken brands lift brewer’s volumes to new highs in China, but earnings plunge
Dutch brewer Heineken said today beer volume in China exceeded 1 million hectolitres in the past year, as it reported that 2013 net profit had more than halved to 1.36 billion euros compared with the previous year – when an acquisition lifted its bottom line.
One hectoliter is equivalent to 100 liters.
The 2013 result was 53 percent lower than for 2012, when the company's profit grew by 1.4 billion euros because of its purchase of Asia Pacific Breweries.
Heineken's revenues for 2013 showed a slight rise of 1.3 percent, to 21.25 billion euros.
The brewer said volume in the international premium segment declined by 1.8 percent in 2013 against comparable growth of 5.3 percent the previous year. This reflects lower volume in the key markets of US, Vietnam and France.
The Tiger brand grew by 30 percent with gains across nearly all markets and particularly strong performances in Vietnam, Malaysia and China, Heineken said.
Volume in China grew in the low-single digits with continued strong growth of the Tiger and Heineken brands in the international premium segment partly offset by lower volume of the mainstream Anchor brand.
Heineken’s brand portfolio includes Amstel, Anchor, Biere Larue, Bintang, Birra Moretti, Cruzcampo, Desperados, Dos Equis, Foster's, Newcastle Brown Ale, Ochota, Primus, Sagres, Sol, Star, Strongbow, Tecate, Tiger and Zywiec.—The Standard/AFP