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Heineken Financial Results Announced

Heineken Holding N.V. reports strong organic growth for 2008;
Acquisitions and impairments significantly impact profit
Amsterdam, 18 February 2009 – Heineken Holding N.V. today announced:
• The net result of Heineken Holding N.V.’s participating interest in
Heineken N.V. for 2008 amounts to EUR105 million;
• Strong organic net profit growth of 11%, ahead of forecast; Net profit
amounted to EUR1,013 million;
• Reported net profit of Heineken N.V. of EUR209 million: diluted by lower than
expected profits from new businesses and related financing charges. Net
exceptional charges of EUR757 million, 80% of which relates to non-cash
• Consolidated beer volume grew 3.5% organically. Strong growth in Africa, Asia
and Central and Eastern Europe; volumes in Western Europe and the Americas
were lower due to the challenging economic environment;
• Heineken® volume in the international premium segment grew 4.7% and
exceeded 25 million hectolitre for the first time, gaining share;
• A new company-wide action programme will deliver a cash conversion rate of
more than 100% in the period 2009-2011; Capital expenditure for 2009 to be
reduced by EUR400 million versus 2008;
• Fixed cost ratio improved to 29.5% (2007: 30.7%). Fit2Fight cost reduction
programme delivered in full and on time. Continued focus on rigorous cost
reduction; Total Cost Management programme launched;
• Proposed dividend of EUR0.62 per ordinary share for 2008.

You can read the full Press Release Here:

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Tuesday, January 23, 1:27 pm

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