- Heineken has seen a significant hit to volumes during COVID-19, as key operating areas in Latin America, Africa, and Asia have been hit by production, distribution, and retail difficulties.
- Heineken was one of the first major brewers to really embrace premiumization, and the company's attractive geographic footprint give it above-average long-term growth potential.
- Margins are an area where the company has lagged, and I expect the new CEO to take a more aggressive approach to improving sourcing, manufacturing, and distribution efficiency.
- Heineken's valuation is more "okay" than "exciting", but I like the leverage to faster-growing markets and margin self-improvement.
For further details see:
Heineken Is Leveraged To Growth Markets, And Has Above-Average Margin Leverage Potential