2012

2012

The analysis of financial position of Heineken, Carlsberg and Saigon Beer Company
The analysis of financial position of Heineken, Carlsberg and Saigon Beer Company

Le Dinh Quang | Do Thi Tra Mi |

SAXION UNIVERSITY OF APPLIED SCIENCE
Academy of International Finance and Accounting
Education: Accountancy

The analysis of financial position of Heineken, Carlsberg and Saigon Beer Company

Le Dinh Quang (Leo) | St.No. 153452 | Do Thi Tra Mi (Kathy) | St.No. 154723 |
Students:

Mr Harm.Postma | Mr J.J Bodewes |
Supervisors:

Deventer, the Netherlands
May 2012

* Prefatory Note

Our dissertation is about the financial ratios analysis based on information from financial statements of three beer companies: …show more content…

ofiles of companies 16 4.1 Heineken beer company (Netherlands) 16 4.2 Carlsberg Beer Company (Denmark) 17 4.3 Saigon Beer Company (Vietnam) 17 5 Comparative analysis performance 19 5.1 Saigon Beer Company versus Heineken Beer Company 19 5.1.1 Liquidity ratios 19 5.1.2 Financial leverage ratios 21 5.1.3 Asset management ratios 23 5.1.4 Profitability ratios 25 5.1.5 Investor ratios 27 5.2 Saigon Beer Company versus Carlsberg Beer Company 28 5.2.1 Liquidity ratios 28 5.2.2 Financial leverage ratios 29 5.2.3 Asset management ratios 31 5.2.4 Profitability ratios 34 5.2.5 Investor ratios 35 5.3 Conclusion 36 6 Evaluation performance of Heineken, Carlsberg and Saigon 37 6.1 Heineken 37 6.2 Carlsberg 40 6.3 Saigon Beer Company 43 6.4 Conclusion 46 7 The influence of external factors on financial situation 47 8 Conclusion and recommendations 48 Literature list 51 Appendix 1: Balance sheets of Heineken, Carlsberg and Saigon 53 Balance sheets of Heineken Company in 2009, 2010 and 2011 53 Balance sheets of Carlsberg company in 2009, 2010 and 2011 55 Balance sheets of Saigon Company in 2009, 2010 and 2011 59 Appendix 2: Income statements of Heineken, Carlsberg and Saigon 67 Income statements of Heineken Company 2009, 2010 and 2011 67 Income statement of Carlsberg Company 2009, 2010 and 2011 69 Income statements of Saigon Company 2009, 2010 and 2011 71 Appendix 3: The Table of calculations 73

Introduction
In this chapter, the