Heineken Holding N.V.
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- Registration date 15 feb 2012 - 07:12
- Statutory name Heineken Holding N.V.
- Title Heineken Holding N.V. delivers solid top-line and earnings growth in 2011
- Comments msterdam, 15 February 2012 - Heineken Holding N.V. today announced: The net result of Heineken Holding N.V.'s participating interest in Heineken N.V. for 2011 amounts to €717 million. Top-line: Revenue grew 3.6% organically, driven by total consolidated volume growth of 2.1% and revenue per hectolitre growth of 1.5%. Group beer volume increased 3.6%, with growth in all regions driving global market share gains; Heineken®: Volume growth of the Heineken® brand in the international premium segment accelerated to 5.4%, once again outperforming the overall beer market; EBIT: Organic EBIT (beia) growth of 1.4% as higher revenues, cost savings and increased profit from joint ventures were partly offset by increased marketing expense, higher input costs and capability building investments; Net profit of Heineken N.V.: Net profit (beia) grew 9.2% organically to €1,584 million, driven by higher EBIT (beia), lower interest expense and a lower effective tax rate (beia). Reported net profit of Heineken N.V. declined 1.2%, following an exceptional capital gain in 2010; Total Cost Management (TCM): TCM delivered pre-tax savings of €178 million in 2011 and total savings of €614 million over the entire three year period; New €500 million cost saving programme (TCM2) launched covering 2012-14; Cost synergies: Achieved cost synergies of €94 million in 2011, relating to acquired beer operations of FEMSA, bringing cumulative savings to €136 million; Cash flow: Strong free operating cash flow generation of over €2 billion, resulting in a cash conversion ratio of 122%. Net debt/ EBITDA (beia) ratio of 2.2x, in line with 2010, despite acquisition activity and accelerated completion of the ASDI share repurchase programme; Dividend: Proposed total dividend of €0.83 per ordinary share, representing an increase of 9% compared with 2010 (€0.76).
Date last update: 23 January 2021