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2014-04-24

HEINEKEN Holding NV : Heineken Holding N.V. reports 2014 first quarter results

Amsterdam, 24 April 2014 - Heineken Holding N.V. (EURONEXT: HEIO; OTCQX:
HKHHY) today announced its trading update for the first quarter of 2014.

HIGHLIGHTS

* Group revenue grew 3.4% organically, with group revenue per hl up 2.4%
* Group beer volume grew 1.3% organically, reflecting further improvements
across a number of key markets in Africa Middle East, Western Europe and
Americas regions
* Heineken® volume in the premium segment grew 8%, with improved brand
momentum in several markets. This partly reflects a benefit from
excise-related destocking in France in the first quarter of 2013.

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 and supervision of and provision
of services to that company.

OPERATIONAL OVERVIEW

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|Key figures[1] Consolidated Group |
|(in mhl or € million) 1Q14 Total growth % Organic growth % 1Q14 Total growth % Organic growth % |
|Revenue[2] 4,038 -2.6 3.4 4,486 -3.1 3.4 |
|Beer volume 38.2 1.1 1.5 42.1 1.0 1.3 |
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[1] Refer to the Definitions section for an explanation of non-IFRS measures
and other terms used throughout this report

[2] Net 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 3.4%, organically, reflecting a total group volume increase of 1.0%
and higher group revenue per hl of 2.4%.Consolidated revenue
declined 2.6% to €4,038 million. This includes a negative net consolidation
impact of 1.7% (-€69 million) mainly from the divestment of the Hartwall
business in Finland in August 2013 and an unfavourable foreign currency
translational effect of 4.3% (-€178 million). Organically, consolidated
revenue grew 3.4%.

Group beer volume
grew by 1.3% organically, with a benefit from excise-related destocking in
France in the first quarter of 2013 counterbalanced by the later timing of
Easter in 2014. This volume performance reflects a strong rebound in Africa
Middle East and improved trading conditions in the Americas and Western
Europe regions. This was partly offset by continued beer market weakness in
Russia, with volume in Asia Pacific in line with last year.

--------------------------------------------
|Heineken® 1Q14 Organic |
| |
| growth |
|(in mhl) % |
|Heineken® in premium segment 6.3 8.0 |
--------------------------------------------
Heineken®
volume in the international premium segment grew by 8%, partly reflecting
comparison against a weak quarter last year following excise-related
destocking in France in January 2013. Notwithstanding this, underlying
Heineken® brand growth was strong underpinned by effective activation of the
global 'Open Your World' campaign. Key markets contributing to brand growth
in the quarter include France, Nigeria, Brazil, Spain, Poland, China and
South Korea. Heineken® brand performance in the Asia Pacific region reflects
lower brand volume in Vietnam, following continued expansion of the total
product portfolio and softer economic conditions.

Reported net profit
of Heineken N.V. in the quarter was €143 million compared with €227 million in
the first quarter of 2013. Net profit (beia) was higher versus last year.

OUTLOOK STATEMENT

(Based on consolidated reporting)

HEINEKEN reaffirms all elements of its full year outlook for 2014 as stated in
its full year 2013 earnings release dated 12 February 2014.

DEFINITIONS

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. The license fee for the Heineken® brand has been increased since
1 January 2014. To facilitate a meaningful financial and margin comparison
compared to last year, the regional impact is reported as a consolidation
change in 2014.

ENQUIRIES

------------------------------------------------------------------
|Media Investors |
|John Clarke George Toulantas |
|Head of External Communication Director of Investor Relations |
|Christine van Waveren Sonya Ghobrial/ Aarti Narain |
|Financial Communications Manager Investor Relations Manager(s) |
|E-mail: pressoffice@heineken.com E-mail: investors@heineken.com |
|Tel: +31-20-5239355 Tel: +31-20-5239590 |
------------------------------------------------------------------
HEINEKEN HOLDING N.V. INVESTOR CALENDAR

----------------------------------------------------------------------
|Annual General Meeting of Shareholders (AGM) 24 April 2014 |
|What's Brewing Seminar, Africa Middle East, London 19 June 2014 |
|Half Year 2014 Results 20 August 2014 |
|Trading update for Q3 2014 22 October 2014 |
|What's Brewing Seminar, Western Europe, London 19 November 2014 |
----------------------------------------------------------------------
CONFERENCE CALL DETAILS

Heineken Holding N.V. will host an analyst and investor conference call in
relation to this trading update today at 10:00 CET/ 9:00 BST. 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 8256 Local line: +44(0)20 3427 1910 |
|National free phone: 0800 020 2576 National free phone: 0800 279 4977 |
|United States of America |
|Local line: +1212 444 0412 |
|National free phone: 1877 280 2296 |
| |
|Participation/ confirmation code for all countries: 8176702 |
-------------------------------------------------------------------------
Editorial information:

HEINEKEN is a proud, independent global brewer committed to surprise and
excite consumers with its brands and products everywhere. The brand that
bears the founder's family name - Heineken® - is available in almost every
country on the globe and is the world's most valuable international premium
beer brand. HEINEKEN's aim is to be a leading brewer in each of the markets
in which it operates and to have the world's most valuable brand portfolio.
HEINEKEN wants to win in all markets with Heineken® and with a full brand
portfolio in markets of choice. HEINEKEN is present in over 70 countries and
operates more than 165 breweries. HEINEKEN is Europe's largest brewer and the
world's third largest by volume. HEINEKEN is committed to the responsible
marketing and consumption of its more than 250 international premium,
regional, local and specialty beers and ciders. These include Heineken®,
Amstel, Anchor, Biere Larue, Bintang, Birra Moretti, Cruzcampo, Desperados,
Dos Equis, Foster's, Newcastle Brown Ale, Ochota, Primus, Sagres, Sol, Star,
Strongbow, Tecate, Tiger and Zywiec. HEINEKEN's leading joint venture brands
include Cristal and Kingfisher. The number of people employed is over 85,000.
Heineken N.V. and Heineken Holding N.V. shares are listed on the NYSE
Euronext in Amsterdam. Prices for the ordinary shares may be accessed on
Bloomberg under the symbols HEIA NA and HEIO NA and on the Reuter Equities
2000 Service 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.

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, 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 are only relevant
as of the date of this press release. HEINEKEN does not undertake any
obligation to release publicly any revisions to these forward-looking
statements to reflect events or circumstances after the date of these
statements. Market share estimates contained in this press release are based
on outside sources, such as specialised research institutes, in combination
with management estimates.

Click here to open media release
http://hugin.info/136154/R/1779391/608030.pdf

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: HEINEKEN Holding NV via Globenewswire

HUG#1779391

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