Heineken Holding N.V. reports 2019 full year results
12 Fevereiro 2020 - 3:01AM
Heineken Holding N.V. reports 2019 full year results
Amsterdam, 12 February 2020 – 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 2019 amounts to €1,087 million
- Net revenue (beia) organic growth +5.6%; net revenue (beia) per
hectolitre +3.3%
- Consolidated beer volume +3.1%
- Heineken® volume +8.3%, best performance in over a decade
- Operating profit (beia) organic growth +3.9%
- Operating profit (beia) margin 16.8% (-12 bps)
- Net profit (beia) €2,517 million, +4.3% organically
- Proposed 2019 total dividend +8.8% at €1.68 per share
FINANCIAL SUMMARY1
IFRS Measures |
|
|
BEIA Measures |
|
|
|
€ million |
Total growth |
|
€ million |
Organic growth2 |
Revenue |
28,521 |
6.4% |
Revenue (beia) |
28,443 |
5.2% |
Net revenue |
23,969 |
6.6% |
Net
revenue (beia) |
23,894 |
5.6% |
Operating profit |
3,633 |
16.4% |
Operating profit (beia) |
4,020 |
3.9% |
|
|
|
Operating profit (beia) margin |
16.8% |
|
Net profit of |
1,087 |
12.5% |
Net profit (beia) |
2,517 |
4.3% |
Heineken Holding N.V. |
Diluted EPS (in €) |
3.77 |
12.5% |
Diluted EPS (beia) (in €) |
4.38 |
4.9% |
|
|
|
Free operating cash flow |
2,228 |
|
|
|
|
Net debt / EBITDA (beia)3 |
2.6x |
|
1 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.
Last year figures restated for IAS 37. Please refer to page 14 for
more details.2 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.3
Includes acquisitions and excludes disposals on a 12 month
pro-forma basis and includes the first time impact of IFRS 16.
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 2020 OUTLOOK STATEMENT
For 2020, HEINEKEN anticipates its business to deliver:
- A superior top-line growth driven by volume, price and
premiumisation
- A low-single digit increase of input costs per hectolitre, with
the benefit of lower prices in some commodities largely offset by
transactional currency headwinds
- Continued cost management initiatives and productivity
improvements to fuel investment behind our brands, innovation,
e-commerce platforms, technology upgrades and sustainability
programmes.
As a result, HEINEKEN currently expects operating profit (beia)
to grow by mid-single digit on an organic basis, barring major
negative macro economic or political developments. In particular it
is at this stage not possible to assess the extent and duration of
the impact of Coronavirus on the economy and on HEINEKEN's
business.
HEINEKEN also anticipates:
- An average interest rate (beia) broadly in line with 2019
(2019: 2.9%)
- An effective tax rate (beia) broadly in line with 2019 (2019:
27.6%)
- Capital expenditure related to property, plant and equipment of
around €2 billion (2019: €1.9 billion).
TOTAL DIVIDEND FOR 2019
The Heineken N.V. dividend policy is to pay out a ratio of 30%
to 40% of full year net profit (beia). For 2019, payment of a total
cash dividend of €1.68 per share (2018: €1.60) will be proposed to
the Annual General Meeting of Shareholders of Heineken N.V. on 23
April 2020 ("2020 AGM"). This represents an increase of 5.0% versus
2018, translating into a 38.4% payout. If approved, a final
dividend of €1.04 per share will be paid on 7 May 2020, as an
interim dividend of €0.64 per share was paid on 8 August 2019. The
payment will be subject to a 15% Dutch withholding tax.If Heineken
N.V. shareholders approve the proposed dividend, Heineken Holding
N.V. will, according to its articles of association, pay an
identical dividend per share. A final dividend of €1.04 per share
of €1.60 nominal value will be payable as of 7 May 2020.Both the
Heineken Holding N.V. shares and the Heineken N.V. shares will
trade ex-dividend on 27 April 2020.
BOARD OF DIRECTORS COMPOSITION
The Board of Directors of Heineken Holding N.V. has announced
that it will propose at the Annual General Meeting of Shareholders
on 23 April 2020 that Jean-François van Boxmeer be appointed as a
non-executive member of the Board of Directors of Heineken Holding
N.V. with effect from 1 June 2020, for the maximum period of four
years, i.e. until the end of the Annual General Meeting of
Shareholders to be held in 2024. For more details please see the
press release as issued on 11 February 2020.
ENQUIRIES
Media Heineken
Holding N.V. |
|
Kees Jongsma |
|
tel. +31 6 54
79 82 53 |
|
E-mail: cjongsma@spj.nl |
|
|
|
Media |
Investors |
Tim
van der Zanden |
José
Federico Castillo Martinez |
Director of
Global Communication |
Investor
Relations Director |
Michael Fuchs |
Janine
Ackermann / Robin Achten |
Financial
Communications Manager |
Investor
Relations Manager / Senior 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)
Combined
financial and sustainability annual report publication |
21 February
2020 |
Trading Update
for Q1 2020 |
22 April
2020 |
Annual General
Meeting of Shareholders |
23 April
2020 |
Half Year 2020
Results |
03 August
2020 |
Trading Update
for Q3 2020 |
28 October
2020 |
CONFERENCE CALL DETAILS
HEINEKEN will host an analyst and investor conference call in
relation to its 2019 FY results today at 10:00 CET/ 9:00 GMT. 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:
United Kingdom (Local): 020 3936 2999 |
Netherlands: 085 888 7233 |
USA:
1 646 664 1960 |
All other
locations: +44 20 3936 2999 |
|
Participation password for all countries: 595244 |
Editorial information: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.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.
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 estimate.
- Please click here to read the full press release.
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