GEBR. HEINEMANN Addressing Heinemann’s results


and forward planning, the company said that it ‘achieved corporate balance and growth in the global duty free market’ last year, effectively offsetting the impact of significant political events on its business ‘as much as possible’. As of April 2017, Heinemann and its


affiliates achieved aforementioned reported preliminary controlled group turnover up +5.6% to €3.8bn ($4bn), while claiming market leadership in Europe with a 30% share in the duty free marketplace.


Globalisation offsets risks The split across the top three categories saw LTC (liquor, tobacco, confectionery) account for 58% of sales, perfume & cosmetics 31% and fashion & accessories 8%. By contrast, in Asia sales increased from 6% to 10% of the total. In a statement, Gebr. Heinemann


said it will now place even greater emphasis on global components, reasoning that the more globally it is positioned, the better it can offset country-specific risks. This follows a year where its


retail business returned 4% overall growth and the distribution sector grew 30% – ‘despite the strong impact of unexpected developments within the political sphere and the global economy’. It also transpires that some of the


biggest markets were also down, as Raoul Spanger, Executive Director Retail & HR explained. He revealed that the company’s


biggest markets were under pressure, including Turkey where the business fell from €631m to €576m, although he added that this was still ‘a good achievement’ considering the pressured trading environment. Turnover also fell slightly in


Norway from €544m to €541m, although this was ‘a euro effect’ since in Norwegian Kroner the business was up by 4%. In Germany Spanger said sales fell


from €407m to €384m, although this was due to Chinese travellers visiting destinations other than Europe. A happy recipient of more


Chinese was, of course, Australia where Heinemann’s Sydney Airport operation generated A$356m


MAY 2017 An artist’s impression of the new New Istanbul Airport.


(€248m) – an 18% rise on the previous year, although the two periods were not entirely like-for-like comparatively, length-wise. The budget for 2017 is another 7.5%


increase and this is on target in the first three months, although he says the company is mindful that Chinese spending behaviour is changing. Spanger then turned to Istanbul


where the huge new airport project is progressing. He said the retail mix is being


determined, just as Unifree now knows which shops it will be operating within this huge project where Heinemann has around 30 to 40 people flying in to make it all happen. He said this is by far the biggest


project the company has ever undertaken, but it remains fully committed to it, even if times are a little more turbulent than before. Spanger agreed with Claus


Heinemann’s early comments that even if times are a little more difficult now, the company is making its best efforts to start the project ‘in the best possible way’. Interestingly, Spanger added that


while Heinemann now has three joint ventures in Istanbul, Amsterdam and Frankfurt and it is one of the company’s preferred business models, he says it is more likely to opt for this relationship where it has established a relationship for some time. Lastly, Spanger referred to Oslo


Gardermoen Airport, where its Travel Retail Norway company has just opened its second departures


store, as well as the world’s biggest duty free arrivals shop and it is set for further growth in future. In its results statement the


company says it is also on track with its forecasts: “Winning the concessions in Sydney, setting up the joint venture with Duty Free International in Malaysia, and the successful retail business at Kuala Lumpur Airport all show what Heinemann is capable of in the Asian/Pacific market. In the USA, Heinemann Americas busily targets different distribution and retail opportunities.”


Fraport & Heinemann JV The company reported that 2016/17 has been a very busy and important period in terms of business activities and developments. This has included the establishment of its joint venture between Fraport and Heinemann at Frankfurt Airport; a successful first year joint venture with Amsterdam Schiphol Airport; the opening of the world’s biggest duty free arrivals store at


“We have never experienced such a dramatic geopolitical year. The referendum in the UK on Brexit and attempted coup in Turkey were and are fundamental changes for our company and for the entire duty free industry.”


Claus Heinemann, Co-owner, Gebr. Heinemann


TRBUSINESS 29


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