Heineken Holding N.V. Trading Update - Third Quarter 2012
(Thomson Reuters ONE) -
Amsterdam, 24 October 2012 - Heineken Holding N.V. today announced its trading
update for the third quarter of 2012. In the quarter:
·       HEINEKEN's[1] revenue rose 4% organically, driven by higher total
consolidated volumes of 1.5% and revenue per hectolitre growth of 2.5%. Group
beer volume grew 2.6% with increases in four out of five regions;
·       Heineken® volume in the international premium segment increased 3.5%,
outperforming group beer volume, primarily driven by strong performance in
Western Europe, the Americas and Africa & the Middle East;
·       EBIT (beia), on an organic basis, increased in the mid-single digits;
·       Net profit (beia) grew organically by mid-single digit percentage
points; and
·       HEINEKEN reaffirms its outlook for full year 2012 net profit (beia) to
be broadly in line with last year, on an organic basis.
Heineken Holding N.V. engages in no activities other than its participating
interest in Heineken N.V. and the management and supervision of and provision of
services to that company.
Financial results
Revenue of HEINEKEN grew 7.1% to ?4,974 million in the third quarter. Combined,
the first time consolidation of new businesses and a positive currency
translational effect increased revenues by ?140 million (+3.0%). The favourable
currency movement primarily reflects appreciation of the Nigerian naira, British
pound and Mexican peso versus the euro reporting currency. On an organic basis,
revenue grew 4% with growth across all regions. This reflects total consolidated
volume growth of 1.5% and revenue per hectolitre growth of 2.5%, driven by
pricing initiatives and improved sales mix.
On an organic basis, EBIT (beia) increased by mid-single digit percentage points
in the quarter. The positive impact of higher revenue and realised cost savings
were partly offset by higher business capability investments and increased input
costs.
Reported net profit of Heineken N.V. in the quarter was ?577 million compared
with ?525 million in the third quarter of 2011.
--------------------------------------------------------------------------------
[1]HEINEKEN means Heineken Holding N.V., Heineken N.V., its subsidiaries and
interests in joint ventures and associates.
Changes in consolidation
The main consolidation scope changes having an impact on financial results in
the third quarter of 2012 include:
·         The acquisition of the Harar and Bedele breweries in Ethiopia,
consolidated from 4 August 2011;
·         The acquisition of the Galaxy Pub Estate in the United Kingdom,
consolidated from 2 December 2011; and
·         The acquisition of a controlling stake (from 22.5% to 95%) in
Brasserie Nationale d'Haiti S.A in Haiti, consolidated from 17 January 2012.
Full year outlook
HEINEKEN reaffirms its 2012 outlook, as stated in its half year 2012 earnings
release dated 22 August 2012.
Financial structure
On 2 October 2012, HEINEKEN placed Senior Notes for a principal amount of
US$3.25 billion. This comprises US$500 million of 3 year Notes at a coupon of
0.80%, US$1.25 billion of 5 year Notes at a coupon of 1.40%, US$1 billion of
10.5 year Notes at a coupon of 2.75% and US$500 million of 30 year Notes at a
coupon of 4.00%. The proceeds of the Notes will be used to finance the
acquisition of APB.
Acquisition of Asia Pacific Breweries
On 28 September 2012, HEINEKEN announced that at the Extraordinary General
Meeting (EGM) of Fraser and Neave, Limited (F&N) in Singapore, shareholders of
F&N voted in favour of the proposed disposal by F&N of its direct and indirect
interests in APB and F&N's interest in the non-APB assets held by Asia Pacific
Investment Private Limited, for a total consideration of S$5.6 billion (?3.5
billion) (Transaction).
HEINEKEN currently holds an effective stake of 55.6% in APB. Upon completion of
the Transaction HEINEKEN will own a 95.3% stake in APB. Following approval from
the Overseas Investment Office of New Zealand on 9 October 2012, the Transaction
remains subject to regulatory approval from the Competition Commission of
Singapore (CCS). The Transaction is expected to complete in November 2012.
HEINEKEN will then make a Mandatory General Offer (MGO) for all the shares of
APB that the HEINEKEN group does not already own, in accordance with the
Singapore Code on Take-overs and Mergers. Subsequently HEINEKEN will seek to
delist APB.
The Transaction and the MGO will be funded through centrally available cash of
approximately ?3.5 billion. In addition, HEINEKEN has a committed revolving
credit facility of ?2 billion which currently remains undrawn. Further reference
is made to HEINEKEN's announcement regarding the Transaction on 28 September
2012.
Directors' Responsibility Statement
The directors of Heineken Holding N.V. (including those who may have delegated
supervision of this Media Release) have taken all reasonable care to ensure that
the facts stated and all opinions expressed in this Media Release are fair and
accurate and that there are no other material facts not contained in this Media
Release the omission of which would make any statement in this Media Release
misleading.
Where any information has been extracted or reproduced from published or
otherwise publicly available sources or obtained from F&N or APB, the sole
responsibility of the directors of Heineken Holding N.V. has been to ensure
through reasonable enquiries that such information has been accurately and
correctly extracted from such sources or, as the case may be, accurately
reflected or reproduced in this Media Release. The directors of Heineken Holding
N.V. jointly and severally accept responsibility accordingly.
Investor calendar Heineken Holding N.V.
What's Brewing Seminar, London                                 2 November 2012
Financial Markets Conference, Lagos (Nigeria)Â Â Â Â Â Â Â Â Â 13-14 November 2012
Financial results for the full year 2012Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 13 February
2013
Trading update for Q1 2013 Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 24 April 2013
Annual General Meeting of Shareholders (AGM)Â Â Â Â Â Â Â Â 25 April 2013
Heineken Holding N.V. will host an analyst and investor conference call in
relation to this trading update today at 10:00 CET/ 09:00 BST. The call will be
audio cast live via the website:
www.heinekeninternational.com/webcasts/investors. An audio replay service will
also be made available after the conference call at the above web address.
Analysts and investors can dial-in using the following telephone numbers:
Netherlands                                        United Kingdom
Local line: +31-(0) 45-631-6902Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Local line: +44-207-153-2027
Toll-Free: 0800-265-8611Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Toll-Free: 0800-358-0886
Press enquiries  Investor and analyst enquiries
John Clarke  George Toulantas
Head of External Communication  Director of Investor Relations
E-mail: john.g.clarke(at)heineken.com    Lucia Bergamini
John-Paul Schuirink  Senior Investor Relations Manager
Financial Communications Manager   E-mail: investors(at)heineken.com
E-mail: john-paul.schuirink(at)heineken.com   Tel: +31-20-5239590
Tel: +31-20-5239355
Definitions:
Organic growth excludes the effect of foreign currency translational effects,
consolidation changes, exceptional items, amortisation of brands and customer
relations. Beia refers to financials before exceptional items and amortisation
of brands and customer relations. Group beer volume includes 100 percent of beer
volume produced and sold by fully consolidated companies and joint venture
companies, as well as the volume of HEINEKEN's brands produced and sold under
license by third parties. Consolidated beer volume includes 100 percent of beer
volume produced and sold by fully consolidated companies (excluding the beer
volume brewed and sold by joint venture companies). Total consolidated volume
includes volume produced and sold by fully consolidated companies (including
beer, cider, soft drinks and other beverages), volume of third party products
and volume of HEINEKEN's brands produced and sold under license by third
parties.
Editorial information:
HEINEKEN is a proud, independent global brewer committed to surprise and excite
consumers with its brands and products everywhere. The brand that bears the
founder's family name - Heineken® - is available in almost every country on the
globe and is the world's most valuable international premium beer brand.
HEINEKEN's aim is to be a leading brewer in each of the markets in which it
operates and to have the world's most valuable brand portfolio. HEINEKEN wants
to win in all markets with Heineken® and with a full brand portfolio in markets
of choice. HEINEKEN is present in over 70 countries and operates more than 140
breweries with volume of 214 million hectolitres of group beer sold. HEINEKEN is
Europe's largest brewer and the world's third largest by volume. HEINEKEN is
committed to the responsible marketing and consumption of its more than 250
international premium, regional, local and specialty beers and ciders. These
include Amstel, Birra Moretti, Cruzcampo, Desperados, Dos Equis, Foster's,
Heineken®, Newcastle Brown Ale, Ochota, Primus, Sagres, Sol, Star, Strongbow,
Tecate, and Zywiec. HEINEKEN's leading joint venture brands include Cristal,
Kingfisher, Tiger and Anchor. In 2011, revenue totaled EUR 17.1 billion and EBIT
(beia) was EUR 2.7 billion. The number of people employed is around 70,000.
Heineken N.V. and Heineken Holding N.V. shares are listed on the Amsterdam stock
exchange. Prices for the ordinary shares may be accessed on Bloomberg under the
symbols HEIA NA and HEIO NA and on the Reuter Equities 2000 Service under
HEIN.AS and HEIO.AS. Most recent information is available on the website:
www.theHEINEKENcompany.com.
Disclaimer:
This press release contains forward-looking statements with regard to the
financial position and results of HEINEKEN's activities. These forward-looking
statements are subject to risks and uncertainties that could cause actual
results to differ materially from those expressed in the forward-looking
statements. Many of these risks and uncertainties relate to factors that are
beyond HEINEKEN's ability to control or estimate precisely, such as future
market and economic conditions, the behaviour of other market participants,
changes in consumer preferences, the ability to successfully integrate acquired
businesses and achieve anticipated synergies, costs of raw materials, interest-
rate and exchange-rate fluctuations, changes in tax rates, changes in law,
pension costs, the actions of government regulators and weather conditions.
These and other risk factors are detailed in HEINEKEN's publicly filed annual
reports. You are cautioned not to place undue reliance on these forward-looking
statements, which are only relevant as of the date of this press release.
HEINEKEN does not undertake any obligation to release publicly any revisions to
these forward-looking statements to reflect events or circumstances after the
date of these statements. Market share estimates contained in this press release
are based on outside sources, such as specialised research institutes, in
combination with management estimates.
Heineken Holding N.V. Trading Update-Third Quarter 2012:
http://hugin.info/136154/R/1651712/532932.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: HEINEKEN Holding NV via Thomson Reuters ONE
[HUG#1651712]
Unternehmensinformation / Kurzprofil:
Datum: 24.10.2012 - 08:03 Uhr
Sprache: Deutsch
News-ID 195587
Anzahl Zeichen: 13647
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 125 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Heineken Holding N.V. Trading Update - Third Quarter 2012"
steht unter der journalistisch-redaktionellen Verantwortung von
HEINEKEN Holding NV (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
