HEINEKEN: Asia shines in an otherwise weak Q3 update | NEUTRAL | EUR100(+3%)
HEINEKEN - NEUTRAL | EUR100(+3%)Asia shines in an otherwise weak Q3 update
Q3 organic beer volume growth of 2.3%
Heineken tends to do better on volumes, not on real price/mix
Full year organic operating profit guidance at low end
New guidance for currency impact is lower
Heineken Holding is a holding company based in the Netherlands. Through its subsidiaries, Co. promotes the continuity, independence and stability of the Heineken group. This creates the conditions which enable Heineken N.V. to pursue its long-term policy in the interest of the shareholders, the staff and other stakeholders. Co. does not engage in operational activities itself. These have been assigned within the Heineken group to Heineken N.V. and its subsidiaries and associated companies. Through Heineken N.V., Co. is involved in the brewing and selling of beer.
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
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