Financial Data and Key Metrics Changes - The company achieved a net revenue growth of 6% organically, reaching €14.8 billion, with a net profit increase of 4.4% to €1.2 billion [3][12][140] - Operating profit (beia) grew by 12.5%, with a margin of 14%, up 60 basis points compared to the previous year [102][112] - Free operating cash flow recorded an inflow of €655 million, a €1.1 billion increase from last year, primarily due to working capital improvements [17] Business Line Data and Key Metrics Changes - The Heineken brand saw a volume growth of 9.2%, with 27 markets achieving double-digit growth, particularly in Brazil, China, and Vietnam [3][107] - The non-alcoholic beer and cider portfolio grew close to 10%, with Heineken 0.0 being a significant contributor [4][9] - In the Americas, net revenue grew by 4%, with operating profit (beia) increasing by 37%, driven by top-line growth and improved variable expenses [27][14] Market Data and Key Metrics Changes - In Ethiopia, revenue grew in the mid-teens despite a volume decline due to inflation [5] - The U.S. market outperformed, with Heineken's brand power improving, particularly with Heineken Silver and Heineken 0.0 [6] - In India, volume increased by high single digits, with the premium portfolio growing in the 30s [7] Company Strategy and Development Direction - The company continues to focus on its EverGreen transformation strategy, aiming for balanced growth between volume and value [2][11] - There is a strong emphasis on premiumization, digital initiatives, and sustainability, with significant investments planned for the second half of the year [38][142] - The company aims to maintain competitiveness in challenging markets, particularly in Africa and the Middle East, while adapting its portfolio [29][19] Management's Comments on Operating Environment and Future Outlook - Management acknowledged ongoing volatility in consumer confidence and economic sentiment, particularly in developed markets [18] - The outlook for organic net profit growth has been revised to align more closely with expected operating profit growth [20] - Management expressed confidence in the long-term potential of key markets like Nigeria, despite short-term challenges [118] Other Important Information - The company recorded a non-cash impairment of €874 million due to the decline in the share price of China Resources Beer [37] - The interim dividend is set at €0.69 per share, consistent with the previous year [36] - The effective tax rate (beia) is expected to be around 28%, an improvement from previous guidance [39] Q&A Session Summary Question: Guidance range and assumptions - Management narrowed the guidance range for organic net profit growth to 4% to 8%, reflecting confidence in the normalization of top-line performance [21][122] Question: Competitive landscape in Brazil and South Africa - Management noted a price war in the economy segment in Brazil but emphasized growth in the premium segment, particularly for the Amstel brand [50][51] Question: Margin pressure in Vietnam - Management acknowledged challenges in Vietnam but highlighted efforts to balance the portfolio and improve margins over time [56][58] Question: Impact of marketing and promotional activities - Management discussed the importance of disciplined investment in marketing to support brand power and pricing power, particularly in developed markets [121][91] Question: Balance sheet and potential cash returns - Management indicated a focus on maintaining a healthy balance sheet while prioritizing organic growth and sustainability investments before considering share buybacks [88]

7 Asia Pacific Return to growth and signs of stability China. Heineken® continued strong momentum, up more than 25%. +0.7% Price mix1 1. Price Mix on a constant geographic basis Premium beer volume outperformed, led by Heineken® and our next generation brands. 10 #1 Share of global 0.0 beer vs total global beer1 DD growth In 23 markets 11 Brew a Better World: H1 2024 Progress 2020 2021 2022 2023 H1 '24 2 Water Consumption hl/hl 3.4 3.4 3.2 3.3 Women in Senior Management KEN 14 Net Revenue (beia): +6.0% orga ...

Core Viewpoint - Weaker-than-expected results from Heineken have negatively impacted the beer industry, overshadowing Boston Beer's recent positive surprise [1][2][7] Company Performance - Heineken reported first-half 2024 net revenue growth of 6% on beer volume growth of 2.1%, with operating profit increasing by 12.5% [4] - However, these results marked a significant deceleration from first-quarter figures, which showed 9.4% revenue growth and 4.7% beer volume growth, indicating a potential decline in Q2 [5] - Heineken took an impairment charge of 874 million euros ($948.9 million) on its $3.1 billion investment in China Resources Beer due to economic challenges in China [6] Industry Context - The overall mood in the beer industry has soured following Heineken's results, leading to declines in stock prices for major players including Anheuser-Busch InBev and Boston Beer [1][7] - Despite Heineken's weaker performance, it still outperformed Boston Beer, which reported a 4% revenue decline [7] - Analysts expect Anheuser-Busch InBev to also report a revenue decline, making Heineken's results relatively better [8] Valuation and Market Sentiment - Heineken is currently the cheapest among major beer stocks, with a PE ratio of 21.75 compared to Anheuser-Busch InBev's 25.19 and Boston Beer's 36.65 [8] - Global consumer hesitance to spend on beer is attributed to higher interest rates and low consumer confidence, compounded by competition from substitutes like cannabis [9] - Despite these challenges, Heineken's relative outperformance and lower valuation suggest it may be an attractive buy for investors looking for a rebound in consumer spending [9]

Core Insights - The company's stock experienced a decline of 6.9% as of 8:23 a.m. London time, indicating a negative market reaction to its financial performance [1][2] - Operating profit showed an organic growth of 12.5%, which fell short of the consensus forecast of 13.2% compiled by the company [1] - Beer sales growth was anticipated at 3.4%, but actual growth was only 2.1%, reflecting weaker-than-expected demand [1][2]

Amsterdam, 24 June 2024 - Heineken N.V. (EURONEXT: HEIA; OTCQX: HEINY) today announced that it has successfully placed €900 million of 12-year Notes with a coupon of 3.812%. The Notes will be issued under the Company's Euro Medium Term Note Programme and will be listed on the Luxembourg Stock Exchange. The proceeds from the Notes issuance will be used for general corporate purposes, including debt repayments. The maturity date of the Notes is 4 July 2036. BBVA, Citigroup, Goldman Sachs, J.P. Morgan and Soci ...

Core Insights - Heineken® launched the 'Cheers To The Real Hardcore Fans' campaign, celebrating fan inclusion during the UEFA Champions League Final 2024 [1][3] - For the first time, real fans were included in the official Trophy lift through biodegradable confetti, symbolizing Heineken®'s commitment to fan engagement [2][5] - The campaign aims to redefine what it means to be a 'real hardcore fan' by highlighting diverse football supporter stories and experiences [3][6] Campaign Activities - Fans participated by submitting selfies to a campaign microsite, with one lucky fan winning tickets to the final [4][9] - Heineken® created a global TV advert showcasing authentic fan stories, including unique behaviors and rituals [8][9] - The company organized various activities, such as transforming laundromats in Seoul into meeting places for fans and installing giant screens in Peru for match viewing [10] Future Initiatives - Heineken® plans to continue its focus on fan inclusivity and challenge stereotypes in future campaigns [13] - The company will maintain its commitment to celebrating the modern face of football fandom [13]

WHITE PLAINS, N.Y., May 21, 2024 (GLOBE NEWSWIRE) -- Today the new world-class light beer, Heineken Silver, announced that they will once again be stepping into the Marvel Cinematic Universe (MCU), this time to celebrate the release of Marvel Studios' "Deadpool & Wolverine", in U.S. theaters July 26. The collaboration will include an exciting, new creative campaign featuring the film's stars Ryan Reynolds (Deadpool) and Hugh Jackman (Wolverine), where fans will see how Heineken Silver is the perfect bridge ...

Financial Data and Key Metrics Changes - Group net revenue (beia) was £6.8 billion, an increase of 9.4% organically, with net revenue (beia) per hectoliter increasing by 4.9% driven mainly by pricing in line with inflation [4][5] - Total consolidated volume on an organic basis was up 4.3%, with underlying price mix on a constant geographic basis up 6% [5][6] - The translation of foreign currencies had a negative effect of £294 million or 4.6%, mainly due to the devaluation of currencies in Africa [6] Business Line Data and Key Metrics Changes - Beer volume was up by 4.7% organically, driven by the premium beer portfolio, which grew by 7.3% [4] - The Heineken brand grew volume by 12.9%, with double-digit growth in over 30 markets, particularly strong in China and Brazil [19] - The non-beer portfolio in South Africa grew revenue by close to 10%, driven by strong performance from brands like Savanna and Bernini [12] Market Data and Key Metrics Changes - In Africa, Middle East, net revenue (beia) grew 32.9% organically, with total consolidated volume up 5.6% [10] - In the Americas, net revenue (beia) grew 6.5% organically, with total consolidated beer volume up 5% [13] - In Asia Pacific, net revenue (beia) increased by 11.3% organically, with consolidated beer volume up 9.4% [16] Company Strategy and Development Direction - The EverGreen strategy aims to create long-term sustainable growth and value creation, focusing on premiumization and non-alcoholic products [20] - The company remains cautious in its outlook due to ongoing economic challenges and uncertainties, while continuing to invest in future growth [20][21] - The company plans to balance operating profit delivery across both halves of the year, with expectations for organic growth in operating profit (beia) to be in the low to high single digits [21] Management's Comments on Operating Environment and Future Outlook - Management noted that while the first quarter showed encouraging trends, the overall market remains volatile and challenging, particularly in regions like Nigeria and Vietnam [3][20] - The company is focused on restoring balanced growth and managing pricing and mix effectively in response to competitive pressures [29] - Consumer confidence in Europe is slowly improving, but remains subdued, with expectations for gradual recovery as wage increases take effect [36] Other Important Information - The integration of Distell and Namibian Breweries contributed £164 million to net revenue (beia), while the exit from Russia and the sale of Vrumona partially offset this [7] - The company is experiencing a mixed performance in Europe, with off-trade growth but on-trade volume down by low single digits [18] Q&A Session Summary Question: Insights on Vietnam's beer market and sequential improvement - Management acknowledged that while there was a sequential improvement in Vietnam, the market remains in decline, and caution is warranted regarding future stability [23][26] Question: Full year guidance and consensus estimates - Management explained that the full year guidance remains unchanged due to one-off factors in Q1 and potential surprise events that could impact performance [32][34] Question: Update on Nigeria's FX situation and input cost guidance - Management indicated that while there has been FX appreciation, the input cost guidance remains under review, balancing pricing and volume strategies [39][43] Question: Performance in South Africa and Distell integration - Management reported positive initial uptake of the returnable Heineken bottle in South Africa and ongoing efforts to leverage the Distell portfolio for growth [46] Question: Brazil's market dynamics and pricing strategy - Management noted that while the market in Brazil is flat to slightly negative, Heineken's performance remains strong, with a focus on maintaining premium positioning despite competitive pressures [51][53] Question: Consumer confidence and channel mix in Europe - Management confirmed that consumer confidence is primarily affected in the Netherlands and Spain, with no significant issues reported in other major markets [65]

From the rise of social networking to a more fractured media landscape to the integration of artificial intelligence (AI) into daily life, the world looks very different now than it did in the ’00s, and brands are seizing on the opportunity to harken back to a simpler (and more low-rise-jeans-filled) time.Most of us don’t turn to beer brands to provide us with our cellphones, but Heineken announced Wednesday (April 17) a collaboration with streetwear marketplace Bodega to launch The Boring Phone, a non-inte ...

Heineken® and US brand and retail marketplace Bodega have launched ‘The Boring Phone', to help people discover there is more to their social life when there is less on their phoneIn a world where smartphones are becoming too interesting, ‘The Boring Phone' takes things back to basics with no access to the internet, social media or other appsThe device will be shown for the first time on Thursday 18th April at a pop-up Bodega at Milan Design Week; the world's leading festival for design and innovationFollowi ...