Heineken Holding N.V. reports 2016 half year results
(Thomson Reuters ONE) -
Amsterdam, 1 August 2016 - Heineken Holding N.V. (EURONEXT: HEIO; OTCQX: HKHHY)
today announced:
* The net result of Heineken Holding N.V.'s participating interest in Heineken
N.V. for the first half year of 2016 amounts to ?296 million
* Organic revenue +4.7% with revenue per hectolitre up +0.8%
* Consolidated beer volume +4.1% with growth in Americas, Asia Pacific and
Europe offsetting weaker volume in Africa Middle East & Eastern Europe
* Heineken® volume in premium segment +2.6%
* Operating profit (beia) +12.6% organically
* Net profit (beia) of ?977 million, up 11.2% organically
* FY 2016 margin expansion expected to be in line with medium term guidance
FINANCIAL SUMMARY
Key financials(1,2) HY16 HY15 Total Organic
(in mhl or ? million unless otherwise stated) growth growth
% %
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Revenue 10,094 9,896 2.0 4.7
Revenue/hl (in ?) 91 96 -4.9 0.8
Operating profit (beia) 1,705 1,549 10.1 12.6
Operating profit (beia) margin 16.9% 15.7% 124 bps
Net profit (beia) 977 915 6.8 11.2
Net profit of Heineken Holding N.V. 296 576 -49
EPS (in ?) 1.03 2.00 -49
Free operating cash flow 541 486 11.3
Net debt/ EBITDA (beia)(3,4) 2.4 2.3
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(1 )Consolidated figures are used throughout this report, unless otherwise
stated; please refer to the Glossary section for an explanation of terms used
throughout this report
(2) A reconciliation between non-GAAP measures and IFRS measures is included in
note 10 on page 22
(3) Includes acquisitions and excludes disposals on a 12 month pro-forma basis
(4 )Net debt definition was revised in December 2015 and HY15 restated to
reflect this
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.
FULL YEAR 2016 OUTLOOK STATEMENT
* For 2016 HEINEKEN expects to deliver further organic revenue and profit
growth, with margin expansion in line with the medium term margin guidance
of a year on year improvement in operating profit (beia) margin of around
40bps. This takes into account the tough comparatives and increasing
currency headwinds in the second half of the year.
* HEINEKEN expects an average interest rate of c.3.1%, and an effective tax
rate (beia) broadly in line with 2015 (2015: 27.8%).
* Capital expenditure related to property, plant and equipment is expected to
be slightly below ?2 billion (2015: ?1.6 billion).
INTERIM DIVIDEND
According to the Articles of Association of Heineken Holding N.V. both Heineken
Holding N.V. and Heineken N.V. pay an identical dividend per share.
In accordance with its dividend policy, HEINEKEN fixes the interim dividend at
40% of the total dividend of the previous year. As a result, an interim dividend
of ?0.52 per share of
?1.60 nominal value will be paid on 11 August 2016. Both the Heineken Holding
N.V. ordinary shares and the Heineken N.V. shares will trade ex-dividend on 3
August 2016.
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 Michael Fuchs
Director of External Communication Financial Communications Manager
E-mail: pressoffice(at)heineken.com Tel: +31-20-5239355
Investors
Sonya Ghobrial Marc Kanter / Gabriela Malczynska
Director of Investor Relations Investor Relations Manager / Senior Analyst
E-mail: investors(at)heineken.com Tel: +31-20-5239590
INVESTOR CALENDAR HEINEKEN N.V.
(events also accessible for Heineken Holding N.V. shareholders)
Trading Update for Q3 2016 26 October 2016
What's Brewing Seminar, London 25 November 2016
Full Year 2016 Results 15 February 2017
Conference call details
Heineken N.V. will host an analyst and investor conference call in relation to
its 2016 HY results today at 10:00 CET/ 9:00 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)20 716 8295 Local line: +44(0)20 3427 1918
National free phone: 0800 020 2576 National free phone: 0800 279 4841
United States of America Local line: +1646 254 3365
National free phone: 1877 280 1254
Participation/ confirmation code for all countries: 2472691
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 approximately 73,000 people and operates 167 breweries,
malteries, cider plants and other production facilities in more than 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.
Market Abuse Regulation
This press release contains inside information within the meaning of Article
7(1) of the EU Market Abuse Regulation.
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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(i) the releases contained herein are protected by copyright and
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(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: HEINEKEN Holding NV via GlobeNewswire
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