Heineken Holding N.V. reports 2016 half year results
01 Agosto 2016 - 2:10AM
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
financials1,2 |
HY16 |
HY15 |
Total |
Organic |
(in mhl or € million unless otherwise stated) |
|
|
growth % |
growth % |
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 |
|
|
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@spj.nl
Media Heineken N.V.
John Clarke |
Michael Fuchs |
Director of External
Communication |
Financial Communications
Manager |
E-mail:
pressoffice@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@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 @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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