Heineken's Results Highlight Strength Of Emerging Markets But More Expansion Still Needed

Dutch brewer Heineken has reported its first annual results following the acquisition of Femsa's beer operations. As would be expected, the acquisition helped the firm register a strong rise in volumes and sales, which came in 21% and 9.7% higher respectively. However, the results also point to continued weak demand in the firm's traditional markets, with sales falling by 3.6% in Western Europe - a region where the firm still generates 47% of its revenues. On an organic basis Heineken's volumes fell by 1.7%, while value sales were down by 2.2%. It is evident that while the expansion into Mexico

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