Heineken Holding N.V. reports 2019 half year results
29 Julho 2019 - 2:01AM
Heineken Holding N.V. reports 2019 half year results
Amsterdam, 29 July 2019 – Heineken Holding N.V. (EURONEXT: HEIO;
OTCQX: HKHHY) announces:
- The net result of Heineken Holding N.V.'s participating
interest in Heineken N.V. for the first half year of 2019 amounts
to €471 million
- Net revenue (beia) organic growth +5.6%; net revenue (beia) per
hectolitre +3.0%
- Consolidated beer volume +3.1%
- Heineken® volume +6.9%
- Operating profit (beia) organic growth +0.3%, full year
expectation unchanged
- Operating profit (beia) margin 15.6% (-47 bps)1
- Net profit (beia) €1,054 million, -1.2% organically
FINANCIAL SUMMARY²
BEIA Measures |
€ million |
Organic growth3 |
|
IFRS Measures |
€million |
Total growth |
Revenue
(beia) |
13,597 |
|
5.3 |
% |
|
Revenue |
13,597 |
|
5.9 |
% |
Net revenue
(beia) |
11,446 |
|
5.6 |
% |
|
Net revenue |
11,443 |
|
6.0 |
% |
Operating
profit (beia) |
1,781 |
|
0.3 |
% |
|
Operating profit |
1,648 |
|
13.1 |
% |
Operating
profit (beia) margin1 |
15.6 |
% |
|
|
|
|
|
Net profit
(beia) |
1,054 |
|
-1.2 |
% |
|
Net profit of Heineken Holding N.V. |
471 |
|
-1.7 |
% |
Diluted EPS
(beia) (in €) |
1.84 |
|
-0.8 |
% |
|
Diluted EPS (in €) |
1.64 |
|
-1.2 |
% |
Free operating
cash flow |
578 |
|
|
|
|
Net debt / EBITDA (beia)4 |
2.9x |
|
|
1 Last year restated for IAS 37. Please refer to page 16 for
more details.2 Consolidated figures are used throughout this
report, unless otherwise stated; please refer to the Glossary for
an explanation of non-GAAP measures and other terms used throughout
this report. 3 Organic growth shown, except for Diluted EPS (beia)
which is total growth. The impact from IFRS 16 is reflected on all
metrics, but is excluded from the organic growth calculation.4
Includes acquisitions, excludes disposals and includes first time
impact of IFRS 16 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 2019 OUTLOOK STATEMENT
For 2019, HEINEKEN expects the following:
- Continued volatility in economic conditions
- Superior top-line growth driven by volume, price and
premiumisation
- Mid-single digit increase of input and logistic costs per
hectolitre
- Continued cost management initiatives and productivity
improvements, together with investment in e-commerce and technology
upgrades.
Given this, HEINEKEN expects operating profit (beia) to grow by
mid-single digit on an organic basis, excluding any major
unforeseen macro economic and political developments.
HEINEKEN also anticipates:
- An average interest rate (beia) slightly below last year (2018:
3.2%)
- An effective tax rate (beia) around 28% (2018 restated:
26.3%)
- Capital expenditure related to property, plant and equipment
slightly above €2 billion (2018: €1.9 billion).
INTERIM DIVIDEND
According to the Articles of Association of Heineken Holding
N.V. bothHeineken 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 €0.64 per share
(2018: €0.59) will be paid on 8 August 2019. Both the Heineken
Holding N.V. shares and the Heineken N.V. shares will trade
ex-dividend on 31 July 2019.
ENQUIRIES
Media Heineken
Holding N.V. |
|
Kees Jongsma |
|
Tel:
+31-6-54798253 |
|
E-mail:
cjongsma@spj.nl |
|
|
|
Media Heineken
N.V. |
Investors |
John-Paul Schuirink |
Federico Castillo |
Director of
Global Communication |
Director of
Investor Relations |
Michael Fuchs |
Janine Ackermann / Aris
Hernández |
Financial
Communication Manager |
Investor
Relations Manager / Analyst |
E-mail:
pressoffice@heineken.com |
E-mail:
investors@heineken.com |
Tel:
+31-20-5239355 |
Tel:
+31-20-5239590 |
INVESTOR CALENDAR HEINEKEN N.V.
(events also accessible for Heineken Holding N.V.
shareholders)
Trading Update
for Q3 2019 |
23 October
2019 |
Full Year 2019
Results |
12 February
2020 |
Conference call details
Heineken N.V. will host an analyst and investor conference call
in relation to its 2019 HY results today at 10:00 CET/ 9:00 BST.
This call will also be accessible forHeineken 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 Local
Amsterdam |
+31(0)20 794 8426 |
|
New York |
+1 212 999 6659 |
|
Standard International
access |
+44 (0)20 3003 2666 |
|
Password: Heineken |
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 300 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. HEINEKEN has a well-balanced
geographic footprint with leadership positions in both developed
and developing markets.HEINEKEN employs over 85,000 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 @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.
- Please click here to read the full media release.
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