TOP 10 OPERATORS 6: GEBR. HEINEMANN
6 A
New management dawn for Heinemann as retail hits $4.2bn
Despite enduring a ‘very challenging business year’ rocked by global macroeconomic and political instability in certain territories, Gebr. Heinemann posted ‘solid and healthy’ sales in 2018, increasing its share in Asia Pacific, consolidating in Europe and winning tenders in the cruise sector. Luke Barras-Hill reports.
s Gebr. Heinemann Co- owner Claus Heinemann attests in an internally
produced business review, 2018 ‘was the most difficult and stressful’ year he had ever experienced in his 39- year career. The combination of cousin and
fellow Co-owner Gunnar falling ill in the first five months – TRBusiness is glad to report Gunnar has since recovered – together with volatility in Turkey where Heinemann began operations at Istanbul’s new airport with Unifree Duty Free this year were flagged as particular hurdles. This is not to mention wider
global macroeconomic uncertainty, including perpetual currency fluctuations coupled with changes in tax regulations. The fact then that Group turnover
grew by 11.4% to €4.6bn/$5.4bn with retail at +14.5% to €3.6bn/$4.2bn represents a very solid return. Retail (80%) accounted for the vast
majority of Group income, followed by wholesale activities (19%) and rendered services (1%). Heinemann’s airport business
OCTOBER 2019
(80%) headed sales by channel, followed by border shops (12%), cruise lines and ferries (3%), other (3%) and airlines and catering (2%). Liquor, tobacco, confectionery
and fine food (56%) accounted for the lion’s share of the retail business followed by perfumes & cosmetics (34%), fashion & accessories (8%) and other categories and rendered services (2%). Europe including Germany
(75%) continued to dominate Heinemann’s share of total external sales by region, although sales from Asia Pacific (19%) rose; up eight percentage points year-on-year. Rest of the world (6%) accounted for the remainder of revenue. As reported by this publication in
some detail in print and online earlier this year, the family-run company entered 2019 by announcing a fresh ‘C-Level’ management re- organisation.
Investments ‘paying off’ Representing a notable milestone in its 140-year history, the company ushered in a fifth generation of
Perfumes & cosmetics, watches & jewellery, fashion & accessories, confectionery and other categories are available on Hapag-Lloyd Cruises’ Hanseatic Nature.
TOP 10 OPERATORS 47
leadership by announcing Max Heinemann as the new Chief Executive and Speaker of the Executive Board [see panel on p50]. While the business of Max’s
appointment and his strategy objectives have been well
Above: Unifree Duty Free took its grand bow at the new Istanbul Airport in April.
Europe including Germany (75%) continued to dominate Heinemann’s share of total external sales by region, although revenue from Asia Pacific (19%) rose; up eight percentage points year-on-year.
TRBusiness
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