Heineken NV Announces Interim Dividend, Payable on 2 September 2014
Aug 20 14
In accordance with the existing dividend policy, HEINEKEN fixes its interim dividend at 40% of the total dividend of the previous year. As a result, an interim dividend of EUR 0.36 per share of EUR 1.60 nominal value will be paid on 2 September 2014. The shares will trade ex-dividend on 22 August 2014.
Heineken NV Announces Consolidated Earnings Results for the Second Quarter and First Half Ended June 2014; Provides Earnings Guidance for the Full Year 2014
Aug 20 14
Heineken NV announced consolidated earnings results for the second quarter and first half ended June 2014. For the quarter, the company reported that group revenue grew 5.5%, on an organic basis.
For the half year, group revenue was EUR 10,196 million against EUR 10,339 million a year ago. Group operating profit (beia) was EUR 1,560 million against EUR 1,448 million a year ago. Consolidated revenue was EUR 9,274 million against EUR 9,354 million a year ago. Consolidated operating profit (beia) was EUR 1,454 million against EUR 1,327 million a year ago. Net profit (beia) was EUR 772 million against EUR 679 million a year ago. Net profit was EUR 631 million against EUR 639 million a year ago Diluted earnings per share was up EUR 0.16 or 14%, amounting to EUR 1.34. This includes the benefit of EUR 0.33 from higher organic operating profit growth and EUR 0.07 improvement from lower net interest expense. This was only partly offset by a EUR 0.14 impact from the higher tax expense, a negative consolidation impact of EUR 0.01, and adverse translational currency movement of EUR 0.06. The effect of higher minorities and the lower share of net profit from joint ventures and associates reduced earnings per share by a combined EUR 0.03. Group revenue was up 4.6% organically, driven by total volume growth of 3.1% and revenue per hectoliter growth of 1.5%. Group operating profit was up 13%, organically driven by the higher revenues and the realized TCM2 savings. Net profit was driven by mainly the strong operating profit result. Free operating cash flow was EUR 571 million against EUR 178 million a year ago. In the first half of the year, group revenue increased 4.6% organically, made up of a 3.1% increase in group total volume and a 1.5% increase in group revenue per hectolitre.
For the full year 2014, margin expansion is expected to be above the medium-term target level. Consolidated operating profit (beia) growth is expected to moderate in the second half of the year due to slower top-line growth, the phasing of head office related and other costs and stronger comparative growth in the second half of 2013. Effective tax rate: is now expects the effective tax rate (beia) for 2014 to be at the high end of the earlier guided range of 28% to 30% (2013: 28.7%). The company remains focused on driving strong cash flow generation and disciplined working capital management. In 2014, capital expenditure related to property, plant and equipment is still forecasted to be approximately EUR 1.5 billion.
Molson Coors and Heineken Expand Marketing Partnership in Canada
Aug 18 14
Molson Coors Brewing Company and Heineken N.V., announced that they have expanded their marketing partnership in Canada, whereby Molson Coors Canada will assume responsibility for distributing five additional Heineken brands in Canada. The new, multi-year agreement further strengthens the existing Molson Coors and Heineken relationship, which has developed over the past two decades. In addition to Heineken, Murphy's, Newcastle and Strongbow, Molson Coors Canada will assume the rights to market and sell Dos Equis, Sol, Tecate, Birra Moretti and Desperados. Beginning on January 1, 2015, Molson Coors Canada will have the rights to market and distribute these brands on behalf of Heineken. As part of the new agreement, Molson Coors has also agreed to extend the existing partnership with Heineken to distribute Coors Light in Ireland.