All going according to plan...
...even if it means: lower net profit for the full year before amortisation of goodwill. Heineken’s Chief Financial Officer Rene Hooft Graafland told the media that net profit would fall due to the effect of a weak dollar while Heineken would also start amortising goodwill.
Analysts expect a net profit in 2004 of around EUR780 million, rising to EUR825 million in 2005 and EUR900 million in 2006 on sales of EUR10.2 billion in 2004, EUR10.6 billion in 2005 and EUR10.8 billion in 2006.
Heineken, which reported flat 2003 profits of EUR798 million, warned in February that the weak dollar would take EUR85 million out of 2004 earnings, despite organic growth.
The CFO forecast Heineken’s total net debt would rise to EUR3.0 billion at the end 2004 from EUR2..
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