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2016-10-26

HEINEKEN NV: Heineken N.V. reports 2016 third quarter Trading Update

Amsterdam, 26 October 2016 - Heineken N.V. (EURONEXT: HEIA; OTCQX: HEINY)
today announces its trading update for the third quarter of 2016.
KEY HIGHLIGHTS

* Consolidated beer volume +2.0% organically, with growth in Americas, Asia
Pacific and Europe offsetting weaker volume in Africa Middle East&Eastern
Europe
* Heineken® volume in the premium segment +3.5%
* Jean-François van Boxmeer to be nominated for re-appointment at the 2017
AGM

CEO STATEMENT

Jean-François van Boxmeer, Chairman of the Executive Board&CEO, commented:
"Performance in the third quarter was robust despite strong comparatives in
Americas and Europe, and a tough environment in Africa Middle East&Eastern
Europe. Strong performance continued in key markets such as Vietnam and
Mexico, with Europe also showing further positive momentum. Our full year
margin expectations remain unchanged despite continued adverse economic
conditions in some developing markets, as well as increasing currency
headwinds."

THIRD QUARTER AND NINE MONTHS VOLUME BREAKDOWN

-----------------------------------------------------------------------------------------
| Key figures 3Q16 Total Organic YTD 3Q16 Total Organic |
|1 |
| growth % growth % growth % growth % |
|(in mhl or %) |
| Consolidated beer volume |
| Heineken N.V. 54.0 5.4 2.0 151.0 6.9 3.3 |
| Africa Middle East&Eastern Europe 9.4 6.1 -3.6 28.4 6.4 -2.0 |
| Americas 14.9 4.2 3.0 43.1 5.3 4.1 |
| Asia Pacific 6.0 20.3 15.1 17.5 24.4 17.9 |
| Europe 23.7 2.6 0.6 62.0 4.1 1.7 |
-----------------------------------------------------------------------------------------

---------------------------------------------------------------------------
| Heineken® 3Q16 Organic YTD 3Q16 Organic |
| |
|(in mhl or %) growth % growth % |
| Heineken® in premium segment 8.4 3.5 23.7 2.9 |
| Africa Middle East&Eastern Europe 1.2 4.4 3.3 -1.8 |
| Americas 2.4 1.5 7.1 2.8 |
| Asia Pacific 1.7 5.4 4.9 4.2 |
| Europe 3.1 3.8 8.4 4.3 |
---------------------------------------------------------------------------
Heineken
® volume in the premium segment grew by 3.5% with positive volume development
across all regions. Particularly strong growth in China, South Africa and
Brazil more than offset weaker volume in US, Greece, Vietnam, and Russia.

1Refer to the Definitions section for an explanation of organic growth.

REGIONAL REVIEW

Africa Middle East&Eastern Europe

* Organic consolidated beer volume declined 3.6%. Weak volume trends were
seen primarily inRussia ,Egypt and theDRC , which more than offset growth
inNigeria ,Ethiopia andAlgeria .
* InNigeria volume increased low single digit. Underlying trading conditions
remain difficult as the weaker macroeconomic environment and consumer
sentiment continue to drive negative brand mix. Although the Naira
devaluation on 20 June 2016 initially provided some improvement in
liquidity, the Naira has continued to weaken, which will have a further
impact on margins.
* InRussia volume declined double digit as the market remained under pressure
and volume was adversely impacted by high promotional price pressure.

Americas

* Organic consolidated beer volume grew 3.0% driven byMexico and
theCaribbean.
* InMexico volume grew mid-single digit benefiting from positive consumer
confidence and the strong performance of both Tecate Light and Dos Equis.
Heineken® delivered double digit volume growth. As expected adverse
transactional currency pressure is more pronounced in the second half of
the year.
* InBrazil volume declined mid-single digit reflecting weak macroeconomic
conditions and tough trading conditions. The premium brand portfolio
outperformed, with continued double digit Heineken® volume growth and good
Amstel performance.
* In theUS volume slightly declined, with volume growth of the Mexican
brands, particularly Tecate, offset by lower Heineken®.

Asia Pacific

* Organic consolidated beer volume growth of 15.1% was driven by particularly
strong performance inVietnam andCambodia.
* InVietnam volume grew double digit in line with the strong momentum seen
year to date. The Tiger brand continued to be the key growth driver.
* InIndonesia volume was up mid-single digit driven by strong growth of the
low and non alcoholic part of the portfolio.
* InCambodia volume continued to grow double digit benefiting from the
capacity added earlier this year.
* InChina volume was up mid-single digit led by strong performance of the
Heineken® brand.

Europe

* Organic consolidated beer volume increased by 0.6%, despite tough
comparatives for the quarter and stocking in June ahead of the excise tax
increase inGreece . Performance was helped by good weather in most European
markets.
* InSpain, Netherlands, France , andItaly volume development was positive.
* InPoland volume was flat and volume declined inRomania ,Austria and theUK
partly due to tough comparatives.

REPORTED NET PROFIT

Reported net profit
for the nine months was €1,239 million (2015:€1,776 million), including the
asset impairment of €233 million for the DRC announced with the HY results on
1 August 2016. In 2015 reported net profit included an exceptional gain of
€379 million from the sale of EMPAQUE.

TRANSLATIONAL CURRENCY UPDATE

Assuming spot rates as of 20 October 2016 for the remainder of the year, the
calculated negative translational currency impact for 2016 would be
approximately €215 million at consolidated operating profit (beia), and €115
million at net profit (beia). Foreign exchange markets remain very volatile.

EXECUTIVE BOARD COMPOSITION

Under the existing rotation schedule the current term of Mr. Jean-François van
Boxmeer as member of the Executive Board will expire at the end of the Annual
General Meeting on 20 April 2017 (2017 AGM). The Supervisory Board will
submit a non-binding nomination for his re-appointment for a further period
of four years at the 2017 AGM, and subject to this has re-appointed Mr. van
Boxmeer as Chairman of the Executive Board and CEO.

DEFINITIONS

Organic growth excludes the effect of foreign currency translational effects,
consolidation changes, accounting policy changes, exceptional items and
amortisation of acquisition-related intangibles.

ENQUIRIES

-------------------------------------------------------------------------------------
| Media Investors |
| John Clarke Sonya Ghobrial |
| Director of External Communication Director of Investor Relations |
| Michael Fuchs Marc Kanter / Gabriela Malczynska |
| 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 |
-------------------------------------------------------------------------------------
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. We are 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 stakeholders. HEINEKEN has a
well-balanced geographic footprint with leadership positions in both
developed and developing markets. We employ approximately 73,000 people and
operate 167 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
HEINEKEN's website:www.theHEINEKENcompany.comand follow us via @HEINEKENCorp.

Market Abuse Regulation
This press release contains inside 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.

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