Heineken Nv · EURONEXT:HEIA
Heineken Nv — H1 2019 Earnings Presentation
15 slides from Heineken Nv's earnings presentation, Jul 29, 2019
Slide 1: 2019 Half Year Earnings Release
Heineken N.V. 2019 Half Year Earnings Release Jean-François van Boxmeer, CEO Laurence Debroux, CFO Amsterdam | July 29, 2019 | Heineken N.V.
Slide 2: Disclaimer
Disclaimer This presentation 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 forwar
Slide 3: 2019 HY Key Highlights
2019 HY Key Highlights Net revenue (beia) OG +5.6% Net revenue (beia) OG per hectolitre +3.0% Consolidated beer volume OG +3.1% Heineken® volume +6.9% Operating profit (beia) OG +0.3%, full year expectations unchanged Operating profit (beia) margin 15.6% (-47 bps)* Net profit (beia) €1
Slide 4: Regional Review
Regional Review 2019 HY Organic Growth % Africa, Middle East Heineken NV & Eastern Europe Americas Asia Pacific Europe Consolidated beer volume 3.1 7.1 2.9 10.4 -1.5 Price mix on a constant 3.5 2.0 6.6 1.9 2.4 geographic basis Net revenue (beia) 5.6 10.0 7.2 11.0 1.4 Operating profit (beia) 0.3 1.9
Slide 5: Heineken volume +6.9%
Heineken volume +6.9% ® Positive performance in all regions, double digit in Africa, Middle East & Eastern Europe and Americas Double digit growth in Brazil, Mexico, South Africa, Russia, Nigeria, UK, Portugal, Germany and Romania Heineken® 0.0, now available in 51 markets, continues to gain t
Slide 6: Strong top-line growth
Strong top-line growth Developing our international brands Building Craft & Variety Leading Low- and no-alcohol innovations High-single digit growth Low-single digit growth High-single digit growth Double digit growth of Tiger and Amstel Affligem grew double digit Zero Zone deployed in 2
Slide 7: Brewing a Better World
Brewing a Better World Steady progress towards our targets Launched ‘Every Drop’ water vision for 2030 Completed projects at the Itu brewery in Brazil and the Schladming brewery in Austria for a total of 12 biomass facilities operational New projects to increase local sourcing in Burundi, th
Slide 8: Financial Overview
Financial Overview Key Financials €m unless otherwise stated 2019 HY Total growth Organic growth* Revenue 13,597 5.9% Net revenue (beia) 11,446 6.2% 5.6% Operating profit (beia) 1,781 3.1% 0.3% Operating profit (beia) margin 15.6% -47 bps Net profit (beia) 1,054 -0.4% -1.2% Net profit 936 -1.4% Dilu
Slide 9: Net revenue (beia): +5.6% organic growth
Net revenue (beia): +5.6% organic growth Organic growth +5.6% +3.0% €m +2.5% +1.0% €m -0.3% 11,446 10,777 2018 2018 HY NetHYrevenue Consolidation impact Currency translation Total volume Net Rev/hl 2019 HY NetHY 2019 revenue (beia) restated* Net revenue Net(beia) revenue (beia) restated* (beia) * Re
Slide 10: Operating profit (beia): +0.3% organic growth
Operating profit (beia): +0.3% organic growth +2.5% +0.3% €m +0.2% €m 1,728 1,781 2018 HY2018 Operating HY profit Consolidation impact Currency translation Organic growth 2019 HY2019 Operating HY profit (beia) restated* Operating profit (beia)profit Operating (beia) restated* (beia) * Restated for I
Slide 11: Diluted EPS (beia): €1.84, -0.8%
Diluted EPS (beia): €1.84, -0.8% -0.8% 2.3% -1.2% -0.3% -1.6% €1.89 €1.86 €1.84 -€0.03 €0.04 -€0.02 -€0.01 2018 HY 2018Diluted HY EPS 20182018 HY Diluted HY EPS Consolidation impact Currency translation Organic growth Shares sold to CRE 2019 HY 2019Diluted HY EPS (beia)EPS Diluted (beia) restated* D
Slide 12: Free Operating Cash Flow of €578 million
Free Operating Cash Flow of €578 million 2018 HY €m unless otherwise stated 2019 HY (RESTATED)¹ Vs. LY Cash flow from operations (before 2,633 2,232 401 changes in working capital) Change in inventories -332 -231 -101 Change in trade and other receivables -769 -628 -141 Change in trade and other pay
Slide 13: Net debt/EBITDA (beia)
Net debt/EBITDA (beia) 0.1x 0.4x • Committed to long 0.1x term target <2.5x • BBB+/Baa1 ratings 2.9x reconfirmed by S&P/ 2.3x Moody’s with stable outlooks Net debt/EBITDA IFRS 16 Acquisitions & Other** Net debt/EBITDA (beia) 2018* disposals (beia) HY 2019* Net debt (€ billion): 12.1 1.2 2.4 0.3 16.0
Slide 14: Full Year Outlook
Full Year Outlook For 2019, we expect : Continued volatility in economic conditions Superior top-line growth driven by volume growth, price increases and premiumisation Mid-single digit increase of input and logistic costs per hectolitre Continued cost management initiatives and productivi
Slide 15: HEINEKEN
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