Heineken 1H Operating Profit Beats Estimates

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Aug. 20 (Bloomberg) –- Bloomberg’s Manus Cranny and Mark Barton report earnings for Heineken and Carlsberg and the impact tensions with Russia have on the numbers on “Countdown.” (Source: Bloomberg)

Go to that.

Carlsberg has cut its full-year profit outlook.

The earlier forecast was for adjusted net income to rise by low single-digit percentages third what they said is adjusted net income won't fall by mid-to high single digit percentage.

What we care some much about carlsberg, not only because it is the world's fourth biggest brewer, russia is its biggest market.

What it says about russia is fascinating.

Market volume in russia down by 6%-7% in the first half.

Its market share has fallen by 128 basis points and it sees the russian beer market down by a high single-digit percentage.

Its earlier forecast was a mid-single-digit drop.

Revenue threatened by political tension over ukraine.

The weakening global and government efforts to curb drinking.

We'll come back to carlsberg in a second.

Heineken is all yours.

Can i be a seamless as that?

First-half consolidated revenue comes in slightly ahead of market estimates.

Operating profit excluding items -- 1.4 5 billion euros.

The estimate was for 1.32. it beat on operating profit from heineken.

Organic revenue grew by 4.6%. it is a different story with heineken.

Carlsberg, virtually all of the trading has gone into a global basket called russia.

Diversification is the hallmark of heineken.

60% of operating profit comes from emergent markets.

Western u.s. and the u.s. -- western europe and the u.s. for the driver in the first quarter.

1.5 4 billion euros.

The estimate was 1.32. beer volume rises by 3.1% driven by growth in africa, middle east, the americas, and western europe.

Improved performance trend in the second quarter in the asia-pacific.

We have a group euro volume rising by three point -- root beer -- group beer volume rising by 3.2%. that seems to be the overall topline.

It is interesting you mention emerging markets.

What carlsberg is trying to do is push into the likes of a ship to make up for this week are russian markets.

It is pushing into asia and new territories to try to plant -- supplant the pressure from russia.

We have seen a gain in market share in asia and also it sees the asian beer market in line with 2013. western europe, which is important -- i think it accounts for 58% of its sales.

The western european beer market will be slightly down.

Market share gains in asia, europe is flat.

The growth outlook coming from heineken -- a expect a positive volume development over the remainder of the year.

A different story to what your guidance is on heineken.

They targeted a year on year improvement of operating margin of approximately 40 basis point.

Margin expansion is expected to be above median target.

Carlsberg as to cut.

Heineken, where would you be without it?

Two very different stories and it is all down to russia.

I will check into that number

This text has been automatically generated. It may not be 100% accurate.

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