THE HAGUE, Feb 12 — Dutch brewer Heineken cheered today a jump in profits for 2019, as the company said its CEO was stepping down after 15 years at the helm.
Heineken, the world’s second largest brewer after Anheuser-Busch InBev, posted profits of €2.1 billion (RM9.5 billion), up 13 per cent on the previous year.
The beer giant, which tied up a deal with the biggest Chinese brewer China Resources Beer in April, reported turnover of €28.5 billion, up 6.4 per cent.
“In 2019, we delivered another year of superior top-line growth, with continued strong performance in the second half,” said CEO Jean-Francois van Boxmeer.
Heineken announced late yesterday that Boxmeer is due to step down in June and be replaced by Dolf van den Brink, the brewer’s current Asia-Pacific head.
Heineken shares were up 6.22 per cent at €103.55 mid-morning on the Amsterdam stock market.
The brewer said its flagship Heineken brand grew 8.3 per cent in 2019, compared to 7.7 per cent, “the best in a decade”.
Heineken predicted profit to grow by “mid-single digit” in 2020 “barring major negative macro economic and political developments.”
It said it was “not possible to assess the extent and duration of the impact of coronavirus” on its business.
Founded in the 19th century, Heineken produces and sells more than 250 brands including Desperados tequila-flavoured beer, Sol, John Smith’s and Strongbow cider.
It employs about 80,000 people in 70 countries around the world. — AFP
