Heineken Holding N.V. reports 2014 third quarter results
(Thomson Reuters ONE) -
Amsterdam, 22 October 2014 - Heineken Holding N.V. (EURONEXT: HEIO; OTCQX:
HKHHY) today announced its trading update for the third quarter of 2014.
HIGHLIGHTS
* Group revenue +0.7% organically, with group revenue per hectolitre up 0.9%
* Group beer volume +0.1% organically, with positive growth momentum in Asia
Pacific, Africa Middle East and the Americas region, offset by lower volumes
in Europe
* Heineken® premium brand +3%, with growth across all regions
* Full year outlook unchanged; expect operating profit (beia) margin expansion
in 2014 to be ahead of medium term target level of around 40 basis points
per annum.
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.
OPERATIONAL OVERVIEW
+------------------------------+------------------------------+
Key figures(1) | Consolidated | Group |
+------------------------------+------------------------------+
(in mhl or ? 3Q14 Total Organic 3Q14 Total Organic
million) growth % growth % growth % growth %
--------------------------------------------------------------------------------
Revenue(2) 5,101 -1.5 0.2 5,577 -1.7 0.7
Beer volume 48.0 -0.6 -0.2 52.4 -0.2 0.1
--------------------------------------------------------------------------------
(1 )Refer to the Definitions section for an explanation of non-IFRS measures and
other terms used throughout this report
(2 )Net of Heineken N.V. head office & eliminations
Group revenue increased 0.7%, organically, reflecting a total group volume
decline of 0.2% and higher group revenue per hectolitre of 0.9%. Consolidated
revenue decreased 1.5% to ?5,101 million. This includes a negative net
consolidation impact of 1.3% (-?67 million) mainly from the divestment of the
Hartwall business in Finland in August 2013 and an unfavourable foreign currency
translational effect of 0.5% (-?24 million). Organically, consolidated revenue
grew 0.2%.
Group beer volume grew by 0.1% organically, led by sustained growth of the Asia
Pacific, Africa Middle East and the Americas regions. Volume performance in
Europe (compared to the first half of 2014) was slightly below expectations
owing to unseasonably wet weather conditions.
3Q14 Organic YTD Organic
growth 2014 growth
% %
Heineken®
(in mhl or %)
-----------------------------------------------------------------
Heineken® in premium segment 7.8 3.0 21.9 5.3
-----------------------------------------------------------------
Heineken® volume in the international premium segment grew by 3%. Heineken®
brand growth was particularly strong in markets including China, Brazil, Mexico,
Taiwan, Russia, Canada and the UK. This growth was supported by continued
activation of the 'Open Your World' marketing campaign.
Reported net profit of Heineken N.V. in the quarter was ?460 million compared
with ?483 million in the third quarter of 2013. Net profit (beia) was lower
compared to last year.
OUTLOOK STATEMENT
(Based on consolidated reporting)
HEINEKEN* reaffirms all elements of its full year outlook for 2014 as stated in
its half year 2014 earnings release dated 20 August 2014.
* HEINEKEN means Heineken Holding N.V., Heineken N.V., its subsidiaries and
interests in joint ventures and associates
BUSINESS DEVELOPMENT UPDATE
Below is an update of business development activity since the release of
HEINEKEN's half year 2014 results on 20 August 2014:
* The disposal of the Mexican packaging business, EMPAQUE was announced on
1 September and is expected to close by the end of the year subject to
customary closing conditions and required regulatory approvals.
* The acquisition of the indirect shareholding of Coca-Cola HBC in Zagorka AD,
the Bulgarian brewer, will increase HEINEKEN's ownership to a controlling
stake of 98.86%. Regulatory approval has been obtained and the transaction
is expected to complete by the end of October 2014.
* The divestiture of an 80% shareholding in HEINEKEN's subsidiary Brasserie
Lorraine on Martinique to Antilles Glaces was completed in September 2014.
HEINEKEN retains a 20% shareholding in the business.
* On 10 October, Nigerian Breweries Plc notified The Nigerian Stock Exchange
that management of Nigerian Breweries Plc and Consolidated Breweries Plc
have received approval of the Scheme of Merger document from the Securities
& Exchange Commission for the proposed combination of the two businesses.
The next step involves shareholders of both Nigerian Breweries Plc and
Consolidated Breweries Plc voting at separate court-ordered EGMs
(announcements to follow when dates are confirmed). The proposed merger is
expected to be finalised by the end of 2014.
DEFINITIONS
Organic growth excludes the effect of foreign currency translational effects,
consolidation changes, accounting policy changes, exceptional items and
amortisation of acquisition-related intangibles. Beia refers to financials
before exceptional items and amortisation of acquisition-related intangibles.
Group figures include HEINEKEN's attributable share of joint ventures and
associates. Group revenue in 2013 has been restated from the earnings release
dated 23 October 2013 (with no impact on group operating profit (beia)). The
license fee for the Heineken® brand has been increased since 1 January 2014. To
facilitate a meaningful financial and margin comparison compared to last year,
the regional impact is reported as a consolidation change in 2014.
ENQUIRIES
Media Investors
John Clarke George Toulantas
Head of External Communication Director of Investor Relations
Christine van Waveren Sonya Ghobrial/ Aarti Narain
Financial Communications Manager Investor Relations Manager(s)
E-mail: pressoffice(at)heineken.com E-mail: investors(at)heineken.com
Tel: +31-20-5239355 Tel: +31-20-5239590
HEINEKEN HOLDING N.V. INVESTOR CALENDAR 2014
What's Brewing Seminar, Western Europe, London 12 November 2014
CONFERENCE CALL DETAILS
Heineken Holding N.V. will host an analyst and investor conference call in
relation to this trading update today at 10:00 CET/ 9:00 BST. The call will be
audio cast live via the website: www.theheinekencompany.com/investors/webcasts.
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)20 713 2790 Local line: +44(0)20 7136 2054
National free phone: 0800 020 2576 National free phone: 0800 279 4992
United States of America
Local line: +1718 354 1152
National free phone: 1877 280 2296
Participation/ confirmation code for all countries: 3232861
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 165
breweries. HEINEKEN is Europe's largest brewer and the world's second largest by
consolidated 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 Heineken®, Affligem, Amstel, Anchor,
Biere Larue, Bintang, Birra Moretti, Cruzcampo, Desperados, Dos Equis, Foster's,
Newcastle Brown Ale, Ochota, Primus, Sagres, Sol, Star, Strongbow, Tecate, Tiger
and Zywiec. HEINEKEN's leading joint venture brands include Cristal and
Kingfisher. The number of people employed is over 81,000. Heineken N.V. and
Heineken Holding N.V. shares are listed on the NYSE Euronext in Amsterdam.
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. HEINEKEN has two sponsored level 1 American Depositary Receipt (ADR)
programmes: Heineken N.V. (OTCQX: HEINY) and Heineken Holding N.V. (OTCQX:
HKHHY). Most recent information is available on the website:
www.theHEINEKENcompany.com and follow HEINEKEN via (at)HEINEKENCorp
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.
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(ii) they are solely responsible for the content, accuracy and
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Source: HEINEKEN Holding NV via GlobeNewswire
[HUG#1864591]
Unternehmensinformation / Kurzprofil:
Datum: 22.10.2014 - 08:03 Uhr
Sprache: Deutsch
News-ID 345939
Anzahl Zeichen: 12455
contact information:
Town:
Amsterdam
Kategorie:
Business News
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