Heineken 1Q13 Earnings Call Notes

This post is part of a series of posts called “Company Notes.” These posts contain quotes and exhibits from earnings calls, conference presentations, analyst days and SEC filings. The quotes are generally pieces of information that I find interesting or helpful to understanding the company, industry or economy and are not meant to provide summaries of the full content of the call. Other posts in this series can be found by clicking here. Full transcripts can be found at Seeking Alpha.

“the first quarter is seasonally small, accounting for 21% of our group beer volumes”

“We continue to face challenging economic conditions in Europe”

“further exacerbated by poor weather conditions in key markets”

“Europe experienced record low temperatures up to 5 degrees lower in the UK, France, and the Netherlands, and a record rainfall in Spain and Portugal 2x to 3x the level of last year”

“Actually off-premise is pretty much stable but the issue is very much indeed the on-premise and that is where you would expect the weather have the biggest impact.”

“the stocking in France, we said in the annual call that it was around 250,000 hectoliters.”

“the beer market in Spain is remarkably resistant for the economic crisis.”

“when we go to Greece, you see volume that looks like that it is bottoming out now and that is a positive news…it feels that after three years of having declined double-digit declines in Greece, we are seeing the bottom of the market.”

“In Italy, the thing is that beer is a relatively small category in Italy. Per capita consumption is low.”

“In Africa, we continue to take price fair because it’s in inflationary environment. In Asia, pricing will be modest looking at our premiums skewed portfolio.”

“we are absolutely convinced and we are positive on the longer-term outlook of Nigeria”

“when you are in the brand building business, it is very dangerous to start to react on quarters.”

“On Egypt, the situation is pretty stable company and as we’ve said at the full year, it has recovered and in the first quarter, not much has changed. So, in that sense, the situation is still pretty positive and albeit that you never know what will happen going forward, there’s a volatile environment, but so far, so good.”

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