Heineken Holding N.V. reports 2017 half year results
(Thomson Reuters ONE) -
Amsterdam, 31 July 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 the first half year of 2017 amounts to ?440 million
* Organic revenue +5.7% with revenue per hectolitre up +3.4%(1)
* Consolidated beer volume +2.6% with growth in all regions
* Heineken® volume +3.9%
* Operating profit (beia) +11.8% organically and operating margin +34bps(1)
* Net profit (beia) of ?1,036 million, up 10.5% organically
* FY expectations unchanged
FINANCIAL SUMMARY
Key financials(1,2,3 HY17 HY16 Total Organic
)(in mhl or ? million unless otherwise growth growth
stated) % %
-------------------------------------------------------------------------------
Revenue 10,475 10,094 3.8 5.7
Revenue/hl (in ?) 91 91 -0.8 3.4
Operating profit (beia) 1,805 1,705 5.9 11.8
Operating profit (beia) margin 17.2 % 16.9 % 34 bps
Net profit (beia) 1,036 977 6.0 10.5
Net profit of Heineken Holding N.V. 440 296 48.6
EPS (in ?) 1.53 1.03 48.6
Free operating cash flow 746 541 37.9
Net debt/ EBITDA (beia)(4) 2.5 2.4
-------------------------------------------------------------------------------
(1 )Excluding an accounting adjustment in the UK with no impact on operating
profit, HEINEKEN organic revenue growth would have been +5.3%, organic revenue
per hl +3.0%, and operating margin (beia) +41 bps.
(2 )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.
(3 )A reconciliation between non-GAAP measures and IFRS measures is included in
note 5 on page 17.
(4 )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 continues
to assume 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 Brasil Kirin, Lagunitas and the proposed Punch acquisition,
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).
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 ?0.54 per share of ?1.60 nominal value will be paid on 10 August 2017. Both
the Heineken Holding N.V. ordinary shares and the Heineken N.V. shares will
trade ex-dividend on 2 August 2017.
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-Paul Schuirink Michael Fuchs
Director of Global Communication Financial Communication Manager
E-mail: pressoffice(at)heineken.com Tel: +31-20-5239355
Investors
Sonya Ghobrial Chris MacDonald / Aris Hernández
Director of Investor Relations Investor Relations Manager / 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 2017 25 October 2017
What's Brewing Seminar, London 11 December 2017
Full Year 2017 Results 12 February 2018
Conference call details
Heineken N.V. will host an analyst and investor conference call in relation to
its 2017 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 8257 Local line: +44(0)20 3427 1914
National free phone: 0800 020 2576 National free phone: 0800 279 5736
United States of America
Local line: +1212 444 0895
National free phone: 1877 280 1254
Participation/ confirmation code for all countries: 7694218
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 speciality 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 80,000 employees and operates 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 may contain price-sensitive 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/2124156/810492.pdf
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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: 31.07.2017 - 07:01 Uhr
Sprache: Deutsch
News-ID 554515
Anzahl Zeichen: 10246
contact information:
Town:
Amsterdam
Kategorie:
Business News
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"Heineken Holding N.V. reports 2017 half year results"
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