Heineken Holding N.V.
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Publicatie datum
27 aug 2008 - 07:05
Statutaire naam
Heineken Holding N.V.
Titel
Heineken Holding N.V. reports organic net profit growth of 5.3% for the first half of 2008
Bericht
Amsterdam, 27 August 2008 – Heineken Holding N.V. today announced its results for the first six months of 2008 .
· The net result of Heineken Holding N.V.’s participating interest in Heineken N.V. for the first half of 2008 turned out at EUR 204 million.
· Organic net profit growth of 5.3%, driven by higher pricing across most markets, increased volumes and cost reduction. Net profit (beia) was slightly lower at EUR 540 million, due to a negative currency effect and higher interest charges related to the financing of acquisitions.
· Organic EBIT (beia) growth of 7.5%. EBIT (beia) increased to EUR 925m.
· Revenue growth of 17.1% to EUR 6,411m., of which 6.7% was organic.
· Consolidated beer volume growth of +15.0% to 58.6 million hectolitres. First time consolidations accounted for 9.6% of the growth, and 5.4% was organic, driven by strong performances in Africa, Central and Eastern Europe and Asia Pacific. Volume in Western Europe and the USA was lower as markets were affected by weakening economies.
· Heineken brand growth of 5.8% in the international premium segment to 12.9 million hectolitres, gaining share.
· Additional gross cost savings of EUR 84 million related to the F2F cost reduction programme. Improvement in the fixed cost ratio to 29.6% from 31.5% for the half year of 2007.
· Expected organic net profit growth of at least mid-single digit for the full year 2008.
· Heineken Holding N.V. will pay an increased interim dividend of EUR 0.28 per ordinary share on 3 September 2008 (2007: EUR 0.24).
· Heineken has completed the S&N acquisition, integration of new businesses is proceeding rapidly.
· Heineken half-year statements include the first-time consolidation of S&N as of 1st May 2008. In addition, from January 2008, Heineken decided to adopt the equity accounting method for joint ventures, replacing the proportional consolidation method.
Key figures (2007 restated for equity method of joint venture accounting)
2008 HY 2007 HY Ch
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