HEIO Heineken Holdings

   By Ian Walker 
 

Heineken Holding NV (HEIO.AE) reported 2018 earnings Wednesday. Here's what you need to know:

REVENUE: The world's second-biggest brewer reported revenue for the year of 22.47 billion euros ($25.42 billion), missing forecasts of EUR22.49 billion according to consensus forecasts taken from its website and based on data compiled by Vuma.

OPERATING PROFIT: The Dutch brewer reported adjusted operating profit--the company's preferred metric which strips out exceptional and other one-off items--of EUR3.87 billion, slightly beating forecasts of EUR3.84 billion, also taken from the company's website.

Heineken said it expects 2019 adjusted operating profit to grow by mid-single digit on an organic basis. Adjusted operating profit grew 6.4% on an organic basis in 2018.

WHAT WE WATCHED

MARGINS: Heineken's adjusted operating profit margins fell 17 basis points to 17.2%, which it attributed to the first-time consolidation of Brazil, rising input costs and currency hits.

BEER-VOLUME GROWTH: Consolidated beer volumes rose 4.2%, with growth in all regions, while Heineken-brand volumes grew 7.7%--the brand's best in over a decade.

Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749

(END) Dow Jones Newswires

February 13, 2019 07:29 ET (12:29 GMT)

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