Amsterdam, 24 April 2013 - Heineken Holding N.V.
today announced its trading update for the first quarter of 2013.
In the quarter:
·
Group beer volume declined 2.7%
organically, following strong growth of 4.7% in the comparative
prior year period and one less selling day in the quarter. This
performance also reflects volatile global economic conditions,
unfavourable weather conditions and destocking in France and the
USA;
·
HEINEKEN's* revenue grew 8.1% mainly reflecting the first time
consolidation of Asia Pacific Breweries (ABP) and Asia Pacific
Investment Pte Ltd (APIPL). Revenue declined 2.7% organically with
lower volume only partly offset by revenue per hectolitre growth of
1.8%;
· Strong
performance of APB with low-double
digit volume and revenue growth. The integration of APB is
progressing well and is expected to complete by June 2013;
·
Heineken® volume in the
international premium segment was 4.7% lower (declined in the low
single digits after adjusting for one less selling day and
destocking);
·
EBIT (beia)1 increased in
the mid-teens and declined organically by mid-single digits.
The first quarter is seasonally less significant
in terms of volume and profit contribution. In 2012, the first
quarter represented 21% of consolidated beer volume and
considerably less in terms of profit contribution.
Heineken Holding N.V. engages in
no activities other than its participating interest in Heineken
N.V. and the management and supervision of and provision of
services to that company.
Financial
results
Revenue of HEINEKEN increased 8.1% to €4,145
million in the first quarter of 2013. First time consolidations
added €449 million (+11.7%) with unfavourable currency translation
movements reducing revenues by €34 million (-0.9%). On an organic
basis, revenue declined 2.7% reflecting lower total consolidated
volume of 4.5%, partly offset by revenue per hectolitre growth of
1.8%. Planned price increases contributed to revenue per hectolitre
growth across all regions.
EBIT
(beia) grew in the mid-teens including a net positive
consolidation and negative foreign currency impact. On an organic
basis, EBIT (beia) declined in the
mid-single digits reflecting lower revenue only partly offset by
the lower phasing of marketing expense and the realisation of TCM2
cost savings.
Reported net
profit of Heineken N.V. in the quarter was €227 million
compared with €166 million2 in the first
quarter of 2012
* HEINEKEN means Heineken Holding
N.V., Heineken N.V., its subsidiaries and interests in joint
venture and associates.
1 The calculation of EBIT (beia) organic growth
assumes HEINEKEN's joint venture share of 41.9% of APB and 50% of
APIPL prior to consolidation is maintained through to 15 November
2013.
2 Restated for revised accounting standard IAS19.
IAS19
Impact on financials
The implementation of the revised
accounting standard IAS19 is expected to result in an increase in
pre-tax pension expense of €98 million in 2013, spread equally over
each quarter. This comprises an increase of €41 million in
personnel expense (which will reduce EBIT (beia)) and an increase
of €57 million in other net finance costs. For the full year 2013,
the impact of IAS19 is expected to reduce net profit (beia) by €75
million and EPS (beia) by €0.13. In 2013, the first time impact on
EBIT (beia), net profit (beia) and EPS (beia) will be treated as a
non-organic item.
Further assessment of the impact
of IAS19 on 2012 (for restatement purposes) resulted in an increase
in pre-tax pension expense of €45 million and a reclassification
from personnel expense to other net finance costs of €51 million.
This results in a restated 2012 EBIT (beia) of €2,918 million, net
profit (beia) of €1,661 million and EPS (beia) of €2.89.
Changes in
consolidation
The main consolidation scope
changes impacting financial results include:
· The acquisition of a controlling stake
(58.1%) in APB and APIPL (50%), both consolidated from 15 November
2012;
· The acquisition of Efes Breweries International's 28%
stake in Central Europe Beverages, Serbia, now a wholly owned
subsidiary, and disposal of a 28% stake in Efes Kazakhstan on 8
January 2013;
· The divestment of Pago International, a wholly owned subsidiary,
on 15 February 2013;
Full year outlook
Global market conditions remain
volatile, contributing to a weaker than expected first quarter.
Challenging trading conditions in austerity affected markets in
Europe and inflationary pressures in Nigeria are expected to
continue to impact volume development for the balance of year,
leading to a moderation in organic growth expectations for the full
year. Overall, HEINEKEN still anticipates organic volume and
revenue growth for the full year 2013, with higher growth regions
offsetting volume weakness in certain developed countries. HEINEKEN
reaffirms all other elements of its full year outlook for 2013 as
stated in its full year 2012 earnings release dated 13 February
2013.
Investor calendar Heineken
Holding N.V.
Annual General Meeting of Shareholders
(AGM) 25 April 2013
What's Brewing Seminar (Sustainability),
Paris 28 June 2013
Half Year 2013
Results 21
August 2013
What's Brewing Seminar (USA), New
York 6
September 2013
Trading update for Q3
2013
23 October 2013
Financial Markets Conference,
Mexico 5-6
December 2013
Heineken Holding N.V. will host an analyst and investor conference
call in relation to this trading update today at 9:00 CET/ 8:00
BST. The call will be audio cast live via the website:
www.heinekeninternational.com/webcasts/investors. 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)
45-631-6902 Local
line: +44-207-153-2027
Toll-Free:
0800-265-8611 Toll-Free:
0800-358-0886
Press
enquiries
Investor and analyst enquiries
John
Clarke
George Toulantas
Head of External
Communication
Director of Investor Relations
John-Paul
Schuirink Aarti
Narain
Financial Communications Manager Investor
Relations Manager
E-mail:
pressoffice@heineken.com E-mail:
investors@heineken.com
Tel:
+31-20-5239355
Tel: +31-20-5239590
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 beer volume includes 100 percent of beer volume
produced and sold by fully consolidated companies and joint venture
companies, as well as the volume of HEINEKEN's brands produced and
sold under license by third parties. Consolidated beer volume
includes 100 percent of beer volume produced and sold by fully
consolidated companies (excluding the beer volume brewed and sold
by joint venture companies). Total consolidated volume includes
volume produced and sold by fully consolidated companies (including
beer, cider, soft drinks and other beverages), volume of third
party products and volume of HEINEKEN's brands produced and sold
under license by third parties.
Editorial information:
HEINEKEN is a proud, independent global brewer committed to
surprise and excite consumers with its brands and products
everywhere. The brand that bears the founder's family name -
Heineken® - is available in almost every country on the globe and
is the world's most valuable international premium beer brand.
HEINEKEN's aim is to be a leading brewer in each of the markets in
which it operates and to have the world's most valuable brand
portfolio. HEINEKEN wants to win in all markets with Heineken® and
with a full brand portfolio in markets of choice. HEINEKEN is
present in over 70 countries and operates more than 165 breweries
with volume of 221 million hectoliters of group beer sold. HEINEKEN
is Europe's largest brewer and the world's third largest by volume.
HEINEKEN is committed to the responsible marketing and consumption
of its more than 250 international premium, regional, local and
specialty beers and ciders. These include Heineken®, Amstel,
Anchor, Biere Larue, Bintang, Birra Moretti, Cruzcampo, Desperados,
Dos Equis, Foster's, Newcastle Brown Ale, Ochota, Primus, Sagres,
Sol, Star, Strongbow, Tecate, Tiger and Zywiec. HEINEKEN's leading
joint venture brands include Cristal and Kingfisher. Pro forma 2012
revenue totaled €19,765 million and EBIT (beia) €3,151 million. The
number of people employed is over 85,000. Heineken N.V. and
Heineken Holding N.V. shares are listed on the Amsterdam stock
exchange. Prices for the ordinary shares may be accessed on
Bloomberg under the symbols HEIA NA and HEIO NA and on the Reuter
Equities 2000 Service under HEIN.AS and HEIO.AS. Most recent
information is available on the website:
www.theHEINEKENcompany.com.
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, 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 are only relevant as of the
date of this press release. HEINEKEN does not undertake any
obligation to release publicly any revisions to these
forward-looking statements to reflect events or circumstances after
the date of these statements. 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 media
release
This
announcement is distributed by Thomson Reuters on behalf of Thomson
Reuters clients.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the
information contained therein.
Source: HEINEKEN Holding NV via Thomson Reuters ONE
HUG#1695534
Heineken (EU:HEIO)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024
Heineken (EU:HEIO)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024