Heineken Holding N.V. reports 2015 first quarter results
(Thomson Reuters ONE) -
Amsterdam, 22 April 2015 - Heineken Holding N.V. (EURONEXT: HEIO; OTCQX: HKHHY)
today announced its trading update for the first quarter of 2015.
HIGHLIGHTS
* Group revenue grew 2.2% organically with group revenue per hectolitre up
0.3%
* Group beer volume grew 2.2% organically, with positive growth momentum in
Asia Pacific and the Americas regions, more subdued growth in Africa Middle
East and slightly lower volumes in Europe
* Heineken® volume in the premium segment grew 6.2%, with growth across most
markets
* Full year 2015 outlook and medium term guidance unchanged
The first quarter is seasonally less significant in terms of volume and profit
contribution to full year HEINEKEN* group results.
Heineken Holding N.V. engages in no activities other than its participating
interest in Heineken N.V. and the management or supervision of and provision of
services to that company.
OPERATIONAL OVERVIEW
+------------------------------+------------------------------+
Key figures(1) | Consolidated | Group |
+------------------------------+------------------------------+
(in mhl or ? 1Q15 Total Organic 1Q15 Total Organic
million) growth % growth % growth % growth %
--------------------------------------------------------------------------------
Revenue( 2) 4,338 7.4 2.0 4,827 8.1 2.2
--------------------------------------------------------------------------------
Beer volume 39.3 2.9 2.2 43.1 2.4 2.2
--------------------------------------------------------------------------------
(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
* HEINEKEN means Heineken Holding N.V., Heineken N.V., its subsidiaries and
interests in joint ventures and associates
Group revenue increased 2.2%, organically, with a total group volume increase of
1.9% and group revenue per hectolitre up 0.3%. Adjusting for negative country
mix, revenue per hectolitre would have increased by 0.9%. Consolidated revenue
increased 7.4% to ?4,338 million. This includes a foreign currency benefit of
?227 million and a small negative consolidation impact of ?8m. Organically,
consolidated revenue grew 2.0%.
Group beer volume grew by 2.2% organically, led primarily by positive growth
momentum in Asia Pacific and the Americas. Volume growth in Africa Middle East
although positive was subdued by lower volume in Nigeria given weaker market
conditions. In Western Europe despite the Easter timing benefit volume was down
slightly against tough comparatives. In Central and Eastern Europe volume was
down 2.6% impacted mainly by beer market weakness in Russia.
1Q15 Organic
growth
%
Heineken®
(in mhl or %)
------------------------------------------------
Heineken® in premium segment 6.7 6.2
------------------------------------------------
Heineken® volume in the international premium segment grew by 6.2%. Key markets
contributing to growth in both developed and developing markets in the quarter
included Vietnam, Brazil, China, South Africa, Spain, Taiwan, Canada and the UK.
Weaker Heineken® brand performance in Central and Eastern Europe was in line
with lower volume in markets adversely impacted by softer economic conditions.
Volume of the global brands continued to deliver positive growth, with
Desperados and Sol Premium volume up double digit, and Affligem up in the high
single digit. Strongbow volume was up slightly.
Reported net profit of Heineken N.V. in the quarter was ?579 million, materially
higher than last year (2014: ?143 million) as it includes the post tax book gain
of ?375 million from the EMPAQUE sale, which is recorded as an exceptional item.
OUTLOOK STATEMENT
(Based on consolidated reporting)
HEINEKEN reaffirms all elements of its full year outlook for 2015 as stated in
its full year 2014 earnings release dated 11 February 2015.
BUSINESS DEVELOPMENT & FINANCING UPDATE
Below is an update of business development and financing activity since the
release of HEINEKEN's full year 2014 results on 12 February 2015:
* The disposal of the Mexican packaging business, EMPAQUE completed on 18
February 2015 for the value of USD1.225bn (?956 million based on hedged
rate). HEINEKEN will deploy up to ?750 million of the proceeds for a share
buyback programme.
* HEINEKEN has launched a ?1bn Euro Commercial Paper programme to facilitate
its cash management operations and to further diversify its funding sources.
The first three issues under this ECP programme took place on 17 March 2015.
* On 31 March 2015 HEINEKEN announced organisational changes to accelerate
strategy delivery, including the regrouping of the business around 4
regions. The new structure will be operational from 1 July 2015, with
restated figures for the prior year and 2015 first half performance based on
the new regional structure to be provided in the second half of the year.
* The acquisition of 51.11 percent of the share capital of Pivovarna Lasko,
the leading Slovenian brewer for ?114.3 million was announced on 13 April
2015. Completion of the acquisition is subject to customary regulatory
approvals and will be followed by a mandatory takeover offer extended to all
remaining shareholders.
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. Revenue per hectolitre has been restated to include only third party
revenue and to exclude interregional revenues.
ENQUIRIES
Media Heineken Holding N.V.
Kees Jongsma
tel. +31 6 54 79 82 53
E-mail: cjongsma(at)spj.nl
Media Heineken N.V.
John Clarke Christine van Waveren
Director of External Communication Financial Communications Manager
E-mail: pressoffice(at)heineken.com Tel: +31-20-5239355
Investors
Sonya Ghobrial Gabriela Malczynska
Director of Investor Relations Investor Relations Analyst
E-mail: investors(at)heineken.com Tel: +31-20-5239590
HEINEKEN HOLDING N.V. INVESTOR CALENDAR
Annual General Meeting (AGM) 23 April 2015
HEINEKEN N.V. INVESTOR CALENDAR
(events also accessible for Heineken Holding N.V.
shareholders)
Annual General Meeting (AGM) 23 April 2015
What's Brewing Seminar (London) 18 June 2015
Half Year 2015 Results 3 August 2015
Trading update for Q3 2015 28 October 2015
What's Brewing Seminar (US) 19 November 2015
CONFERENCE CALL DETAILS
Heineken N.V. will host an analyst and investor conference call in relation to
this trading update today at 9:30 CET/ 8:30 BST. This call will also be
accessible for Heineken Holding N.V. shareholders. 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)20 721 9158 Local line: +44(0)20 7136 2051
National free phone: 0800 020 2576 National free phone: 0800 279 4992
United States of America
Local line: +1718 354 1158
National free phone: 1877 280 1254
Participation/ confirmation code for all countries: 3368960
Editorial information:
HEINEKEN is the world's most international brewer. It is the leading developer
and marketer of premium beer and cider brands. Led by the Heineken® brand, the
Group has a powerful portfolio of more than 250 international, regional, local
and specialty beers and ciders. HEINEKEN is committed to innovation, long-term
brand investment, disciplined sales execution and focused cost management.
Through "Brewing a Better World", sustainability is embedded in the business and
delivers value for all stakeholders. HEINEKEN has a well-balanced geographic
footprint with leadership positions in both developed and developing markets.
HEINEKEN employs 81,000 people and operates more than 160 breweries in 70
countries. Heineken N.V. and Heineken Holding N.V. shares trade on the Euronext
in Amsterdam. Prices for the ordinary shares may be accessed on Bloomberg under
the symbols HEIA NA and HEIO NA and on Reuters 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.
Heineken Holding N.V. engages in no activities other than its participating
interest in Heineken N.V. and the management or supervision of and provision of
services to that company.
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,
change in 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 speak only of the date of this press release.
HEINEKEN does not undertake any obligation to update these forward-looking
statements contained in this press release. 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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Source: HEINEKEN Holding NV via GlobeNewswire
[HUG#1913051]
Unternehmensinformation / Kurzprofil:
Datum: 22.04.2015 - 08:04 Uhr
Sprache: Deutsch
News-ID 387582
Anzahl Zeichen: 13135
contact information:
Town:
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Kategorie:
Business News
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