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HEINEKEN Holding NV : Heineken Holding N.V. reports 2015 first quarter results

Amsterdam, 22 April 2015 - Heineken Holding N.V. (EURONEXT: HEIO; OTCQX:
HKHHY) today announced its trading update for the first quarter of 2015.


* Group revenue grew 2.2% organically with group revenue per hectolitre up
* Group beer volume grew 2.2% organically, with positive growth momentum in
Asia Pacific and the Americas regions, more subdued growth in Africa Middle
East and slightly lower volumes in Europe
* Heineken® volume in the premium segment grew 6.2%, with growth across most
* Full year 2015 outlook and medium term guidance unchanged

The first quarter is seasonally less significant in terms of volume and profit
contribution to full year HEINEKEN* group results.

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.


| Key figures Consolidated Group |
|1 |
| (in mhl or € million) 1Q15 Total growth % Organic growth % 1Q15 Total growth % Organic growth % |
| |
| Revenue 4,338 7.4 2.0 4,827 8.1 2.2 |
|2 |
| |
| Beer volume 39.3 2.9 2.2 43.1 2.4 2.2 |
1Refer to the Definitions section for an explanation of non-IFRS measures and
other terms used throughout this report

2Net of Heineken N.V. head office&eliminations

* HEINEKEN means Heineken Holding N.V., Heineken N.V., its subsidiaries and
interests in joint ventures and associates

Group revenue
increased 2.2%, organically, with a total group volume increase of 1.9% and
group revenue per hectolitre up 0.3%. Adjusting for negative country mix,
revenue per hectolitre would have increased by 0.9%.Consolidated revenue
increased 7.4% to €4,338 million. This includes a foreign currency benefit of
€227 million and a small negative consolidation impact of €8m. Organically,
consolidated revenue grew 2.0%.

Group beer volume
grew by 2.2% organically, led primarily by positive growth momentum in Asia
Pacific and the Americas. Volume growth in Africa Middle East although
positive was subdued by lower volume in Nigeria given weaker market
conditions. In Western Europe despite the Easter timing benefit volume was
down slightly against tough comparatives. In Central and Eastern Europe
volume was down 2.6% impacted mainly by beer market weakness in Russia.

| Heineken® 1Q15 Organic |
| |
|(in mhl or %) growth |
| % |
| Heineken® in premium segment 6.7 6.2 |
volume in the international premium segment grew by 6.2%. Key markets
contributing to growth in both developed and developing markets in the
quarter included Vietnam, Brazil, China, South Africa, Spain, Taiwan, Canada
and the UK. Weaker Heineken® brand performance in Central and Eastern Europe
was in line with lower volume in markets adversely impacted by softer
economic conditions.
Volume of the global brands continued to deliver positive growth,
andSol Premium
volume up double digit, andAffligem
up in the high single digit.Strongbow
volume was up slightly.

Reported net profit
of Heineken N.V. in the quarter was €579 million, materially higher than last
year (2014: €143 million) as it includes the post tax book gain of €375
million from the EMPAQUE sale, which is recorded as an exceptional item.


(Based on consolidated reporting)
HEINEKEN reaffirms all elements of its full year outlook for 2015 as stated in
its full year 2014 earnings release dated 11 February 2015.


Below is an update of business development and financing activity since the
release of HEINEKEN's full year 2014 results on 12 February 2015:

* The disposal of the Mexican packaging business, EMPAQUE completed on 18
February 2015 for the value of USD1.225bn (€956 million based on hedged
rate). HEINEKEN will deploy up to €750 million of the proceeds for a share
buyback programme.
* HEINEKEN has launched a €1bn Euro Commercial Paper programme to facilitate
its cash management operations and to further diversify its funding
sources. The first three issues under this ECP programme took place on 17
March 2015.
* On 31 March 2015 HEINEKEN announced organisational changes to accelerate
strategy delivery, including the regrouping of the business around 4
regions. The new structure will be operational from 1 July 2015, with
restated figures for the prior year and 2015 first half performance based
on the new regional structure to be provided in the second half of the
* The acquisition of 51.11 percent of the share capital of Pivovarna Lasko,
the leading Slovenian brewer for €114.3 million was announced on 13 April
2015. Completion of the acquisition is subject to customary regulatory
approvals and will be followed by a mandatory takeover offer extended to
all remaining shareholders.


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 figures include HEINEKEN's attributable share of joint ventures and
associates. Revenue per hectolitre has been restated to include only third
party revenue and to exclude interregional revenues.


| Media |
|Heineken Holding N.V. |
| Kees Jongsma |
| tel. +31 6 54 79 82 53 |
| |
| |
| Media |
|Heineken N.V. |
| John Clarke Christine van Waveren |
| Director of External Communication Financial Communications Manager |
| |
| Tel: +31-20-5239355 |
| |
| Investors |
| Sonya Ghobrial Gabriela Malczynska |
| Director of Investor Relations Investor Relations Analyst |
| |
| Tel: +31-20-5239590 |

| Annual General Meeting (AGM) 23 April 2015 |
| |
| (events also accessible for Heineken Holding N.V. shareholders |
|) |
| Annual General Meeting (AGM) 23 April 2015 |
| What's Brewing Seminar (London) 18 June 2015 |
| Half Year 2015 Results 3 August 2015 |
| Trading update for Q3 2015 28 October 2015 |
| What's Brewing Seminar (US) 19 November 2015 |

Heineken N.V. will host an analyst and investor conference call in relation to
this trading update today at 9:30 CET/ 8:30 BST. This call will also be
accessible for Heineken Holding N.V. shareholders. The call will be audio
cast live via the 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)20 721 9158 Local line: +44(0)20 7136 2051 |
| National free phone: 0800 020 2576 National free phone: 0800 279 4992 |
| |
| United States of America |
| Local line: +1718 354 1158 |
| National free phone: 1877 280 1254 |
| |
| Participation/ confirmation code for all countries: 3368960 |
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 stakehol...

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