Beruflich Dokumente
Kultur Dokumente
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2018 HY Key Highlights
Organic net revenue +5.6% with net revenue per hectolitre +1.1%
Operating profit (beia) organic growth +1.3% and operating profit margin -118 bps (-76 bps
excluding Kirin)
In the second half, we expect a continuation of our revenue growth and an acceleration of our
operating profit growth on an organic basis
We now expect the operating profit margin to decrease by approximately 20 bps for the full year
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Regional Review
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Heineken ® volume +7.5%
Double digit growth in Brazil, South Africa, Russia, UK, Nigeria, Mexico, Poland and Romania
Continued benefit from global sponsorship platforms such as UEFA Champions League® and Formula 1®
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Strong top line growth
Developing our international brands Building Craft & Variety Leading Low- and no-alcohol innovations
Portfolio grew high single digit Craft & Variety volume was up Double digit growth in Poland,
Volume up double digit for Tiger, double digit. Strong performance of Netherlands, Hungary, Ethiopia and
Krušovice and Desperados international and local propositions Russia
strong in South Africa, Vietnam markets, the USA and China platforms which gain traction across
and Poland The Blade is available in 12 markets markets
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to increase penetration into small
outlets
Brewing a Better World
Launched a new global Heineken® campaign “When You Drive, Never Drink”
“Drop the C” program ambition to grow renewable energy usage to 70% by 2030
For example, in the Netherlands we will install 21,800 solar panels on our
breweries in the next two years
Mexico started operations in the Meoqui brewery, our largest greenfield and our
most advanced in circular economy
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Financial Overview
Key Financials 2018 HY 2017 HY Total Change (%) Organic Change (%)
€m unless otherwise stated (RESTATED)
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Net Revenue: +5.6% Organic Growth
Organic growth +5.6%
+5.1% +1.1% €m
+4.4%
€m
-6.6%
10,777
10,342
2017 HY Net Revenue Consolidation impact Currency translation Total volume Rev/hl 2018 HY Net Revenue
restated
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Operating Profit (beia): +1.3% Organic Growth
+2.9%
€m +1.3% €m
-7.1%
1,805
1,754
2017 HY Operating profit Consolidation impact Currency translation Organic growth 2018 HY Operating profit
(beia) (beia)
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HY2018 Operating Profit (beia) margin
-118 bps
Main drivers of variation
-42 bps
Consolidation of Kirin Brasil with stronger
17.5% growth than expected
-76 bps
16.3% Input costs per hl increase +3.0% organically,
mainly due to adverse transactional currency
movements impacting packaging costs
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FY2018 Operating Profit (beia) Margin update
-20 bps
Revenue growth is expected to continue and
operating profit growth to accelerate in the
+25 bps
second half on an organic basis
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Diluted EPS (beia) €1.89, +3.8%
+3.8%
€0.04 +€0.16
€1.89
€1.82 -€0.14
2017 HY Diluted EPS (beia) Consolidation impact Currency translation Organic growth 2018 HY Diluted EPS (beia)
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Full Year Outlook
Economic conditions are expected to remain volatile and we assume a negative impact
from currency comparable to 2017
Revenue growth is expected to continue and operating profit growth to accelerate in the
second half on an organic basis
We are updating our operating profit margin guidance for the full year to a decrease of
approximately 20 bps
We expect an average interest rate (beia) broadly in line with 2017 (2017: 3.0%), and an
effective tax rate (beia) of around 28% (2017: 27.6%).
Capital expenditure related to property, plant and equipment should be slightly above €2
billion (2017: €1.7 billion).
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