Heineken Holding N.V. reports 2016 full year results
(Thomson Reuters ONE) -
Amsterdam, 15 February 2017 - Heineken Holding N.V. (EURONEXT: HEIO; OTCQX:
HKHHY) today announces:
* The net result of Heineken Holding N.V.'s participating interest in Heineken
N.V. for 2016 amounts to ? 779 million;
* Organic revenue +4.8% with revenue per hectolitre up 2.2%(1)
* Consolidated beer volume +3.0% with growth in Americas, Asia Pacific and
Europe offsetting weaker volume in Africa, Middle East & Eastern Europe
* Heineken® volume in premium segment +3.7%
* Operating profit (beia) +9.9% organically and operating margin +54bps(1)
* Net profit (beia) of ?2,098 million, up 8.5% organically
* Proposed 2016 total dividend up 3.1% at ?1.34 per ordinary share (2015:
?1.30)
FINANCIAL SUMMARY
Key financials(1,2 FY16 FY15 Total Organic
)(in mhl or ? million unless otherwise growth growth
stated) % %
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Revenue 20,792 20,511 1.4 4.8
Revenue/hl (in ?) 91 95 -3.9 2.2
Operating profit (beia) 3,540 3,381 4.7 9.9
Operating profit (beia) margin 17.0% 16.5% 54 bps
Net profit (beia) 2,098 2,048 2.5 8.5
Net profit of Heineken Holding N.V. 779 957 -18.6
EPS (in ?) 2.70 3.32 -18.6
Free operating cash flow 1,773 1,692 4.8
Net debt/ EBITDA (beia)(3) (x) 2.3 2.4
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(1 )Excluding an accounting adjustment in the UK in 2H16 with no impact on
operating profit, HEINEKEN organic revenue growth would have been +4.4%, organic
revenue per hl +1.7% and operating margin (beia) +61bps.
(2 )Consolidated figures are used throughout this report, unless otherwise
stated; please refer to the Glossary section for an explanation of non-GAAP
measures and other terms used throughout this report.
(3) Includes acquisitions and excludes disposals on a 12 month pro-forma basis.
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 2017 OUTLOOK STATEMENT
* Economic conditions are expected to remain volatile and HEINEKEN has assumed
a negative impact from currency comparable to 2016
* HEINEKEN expects further organic revenue and profit growth.
* Excluding major unforeseen macro economic and political developments as well
as the impact of the proposed acquisitions in Brazil and in the UK, HEINEKEN
expects continued margin expansion in 2017 in line with the medium term
margin guidance of a year on year improvement in operating profit (beia)
margin of around 40bps.
* HEINEKEN expects an average interest rate broadly in line with 2016 (2016:
3.1%), and an effective tax rate (beia) also broadly in line with 2016
(2016: 28.3%).
* Capital expenditure related to property, plant and equipment should be
slightly below ?2 billion (2016: ?1.8 billion).
TOTAL DIVIDEND FOR 2016
The Heineken N.V. dividend policy is to pay out a ratio of 30% to 40% of full-
year net profit (beia). For 2016, payment of a total cash dividend of ?1.34 per
share (2015: ?1.30) will be proposed to the Annual General Meeting of Heineken
N.V. This implies a 36% payout ratio, in line with the payout ratio in 2015. If
approved, a final dividend of ?0.82 per share will be paid on 3 May 2017, as an
interim dividend of ?0.52 per share was paid on 11 August 2016. The payment will
be subject to a 15% Dutch withholding tax.
If Heineken N.V. shareholders approve the proposed dividend, Heineken Holding
N.V. will, according to its articles of association, pay an identical dividend
per ordinary share. A final dividend of ?0.82 per ordinary share of ?1.60
nominal value will be payable on 3 May 2017.
The ex-final dividend date for both the Heineken Holding N.V. and Heineken N.V.
shares will be 24 April 2017.
BOARD OF DIRECTORS COMPOSITION
Messrs. M. Das and A.A.C. de Carvalho will resign by rotation from the Board of
Directors at the Annual General Meeting (AGM) on 20 April 2017. Messrs. M. Das
and A.A.C. de Carvalho are eligible for reappointment for a period of four years
and a non-binding nomination for their reappointment will be submitted to the
AGM.
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. Investors
John Clarke Sonya Ghobrial
Director of Global Communication Director of Investor Relations
Michael Fuchs Marc Kanter / Gabriela Malczynska
Financial Communications Manager Investor Relations Manager / Senior Analyst
E-mail: pressoffice(at)heineken.com E-mail: investors(at)heineken.com
Tel: +31-20-5239355 Tel: +31-20-5239590
INVESTOR CALENDAR HEINEKEN N.V.
(events also accessible for Heineken Holding N.V. shareholders)
Trading Update for Q1 2017 19 April 2017
Annual General Meeting 20 April 2017
Half Year 2017 Results 31 July 2017
Trading Update for Q3 2017 25 October 2017
Conference call details
HEINEKEN will host an analyst and investor conference call in relation to its
2016 FY results today at 10:00 CET/ 9:00 GMT. 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 8257 Local line: +44(0)20 3427 1902
National free phone: 0800 020 2577 National free phone: 0800 279 5004
United States of America
Local line: +1646 254 3364
National free phone: 1877 280 2342
Participation/ confirmation code for all countries: 3570680
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 over 73,000 employees and operates more than 165 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.
Click here to open full media release:
http://hugin.info/136154/R/2078680/782383.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: HEINEKEN Holding NV via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 15.02.2017 - 07:01 Uhr
Sprache: Deutsch
News-ID 524185
Anzahl Zeichen: 11065
contact information:
Town:
Amsterdam
Kategorie:
Business News
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