Heineken Holding N.V. reports 2017 third quarter Trading Update
(Thomson Reuters ONE) -
Amsterdam, 25 October 2017 - Heineken Holding N.V. (EURONEXT: HEIO; OTCQX:
HKHHY) today announces its trading update for the third quarter of 2017.
KEY HIGHLIGHTS
* Consolidated beer volume +2.5% organically, with growth in Asia Pacific,
Americas and Africa, Middle East & Eastern Europe offsetting lower volume in
Europe against tough comparatives.
* Heineken® volume +3.4% driven by Brazil, South Africa, Russia and Mexico.
* Full year expectations unchanged.
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.
THIRD QUARTER AND NINE MONTHS VOLUME BREAKDOWN
--------------------------------------------------+-----------------------------
Consolidated beer Total | Total
volume(1 growth Organic growth| YTD growth Organic growth
)(in mhl or %) 3Q17 % %| 3Q17 % %
--------------------------------------------------+-----------------------------
Consolidated beer
volume 60.0 11.1 2.5 161.3 6.8 2.5
--------------------------------------------------------------------------------
+---------------------
Heineken®(2 Organic | Organic
)(in mhl or %) 3Q17 growth % | YTD 3Q17 growth %
-------------------------------------+---------------------
Heineken® 9.5 3.4 26.8 3.7
-----------------------------------------------------------
Heineken® volume(2) grew by 3.4% organically. Key markets that contributed to
this growth included Brazil, South Africa, Russia and Mexico, which more than
offset weaker volume in the US, France, the Netherlands and China.
(* )HEINEKEN means Heineken Holding N.V., Heineken N.V., its subsidiaries and
interests in joint ventures and associates.
(1 )Refer to the Definitions section for an explanation of organic growth.
(2) Heineken® volume is now total Heineken® volume including the Netherlands.
REPORTED NET PROFIT OF HEINEKEN N.V.
Reported net profit of Heineken N.V. for the nine months was ?1,486 million
(2016: ?1,239 million). In the nine months of 2016, reported net profit of
Heineken N.V. included an asset impairment of ?233 million in the Democratic
Republic of Congo (DRC).
TRANSLATIONAL CURRENCY UPDATE
Using spot rates as at 19 October 2017 for the remainder of this year, the
calculated negative currency translational impact would be approximately ?185
million at consolidated operating profit (beia), and ?75 million impact at net
profit (beia). Foreign exchange markets remain very volatile.
ACQUISITION OF PUNCH
On 15 December 2016, HEINEKEN announced that following Vine Acquisitions
Limited's announcement of a recommended cash offer for Punch Taverns plc
('Punch'), HEINEKEN through HEINEKEN UK had agreed a back-to-back deal with Vine
Acquisitions to acquire Punch Securitisation A ('Punch A'), comprising
approximately 1,900 pubs across the UK. The transaction completed on 29 August
2017.
The pubs acquired by HEINEKEN UK will be operated for six months by Punch under
a transitional services agreement, after which they will be integrated into the
existing Star Pubs & Bars business. The transitional services agreement has no
impact on Star's existing licensees, who will continue to trade on a 'business
as usual' basis.
FINANCING UPDATE
On 22 September 2017, HEINEKEN placed 12-year Notes with a coupon of 1.50% for a
principal amount of ?800 million. The notes are issued under the Company's Euro
Medium Term Note Programme and are listed on the Luxembourg Stock Exchange. The
proceeds were used for general corporate purposes including the refinancing of
existing debts.
Following the completion of the acquisition of Punch Securitisation A on 29
August 2017, HEINEKEN decided to terminate the securitisation structure and has
since repaid all outstanding Punch A notes (notional amount ?864 million) by 4
October 2017.
DEFINITIONS
Organic growth excludes the effect of foreign currency translational effects,
consolidation changes, accounting policy changes, exceptional items and
amortisation of acquisition-related intangibles.
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-Paul Schuirink Federico Castillo Martinez
Director of Global Communication Director of Investor Relations
Michael Fuchs Chris MacDonald / Aris Hernández
Corporate & Financial Communication Investor Relations Manager / Senior
Manager Analyst
E-mail: pressoffice(at)heineken.com E-mail: investors(at)heineken.com
Tel : +31-20-5239355 Tel: +31-20-5239590
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 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 on
Twitter 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 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/2144244/821739.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: 25.10.2017 - 08:01 Uhr
Sprache: Deutsch
News-ID 565150
Anzahl Zeichen: 9423
contact information:
Town:
Amsterdam
Kategorie:
Business News
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"Heineken Holding N.V. reports 2017 third quarter Trading Update"
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