Heineken N.V. 2021 Full Year Results Dolf van den Brink, CEO Harold van den Broek, CFO Amsterdam | February 16, 2022 | Heineken N.V. Disclaimer 2 | --- | --- | |------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------| | | | | activities. These forward-looking statements are subject to risks and uncertainties that could cause actual results to | | | differ materially f ...

Heineken N.V. (OTCQX:HEINY) Q4 2021 Earnings Conference Call February 16, 2022 8:00 AM ET Company Participants Dolf van den Brink – Chief Executive Officer Harold van den Broek – Chief Financial Officer Federico Martinez – Investor Relations Conference Call Participants Trevor Stirling – Alliance Bernstein Simon Hales – Citi Olivia Nikolai – Goldman Sachs Celine Pannuti – JPMorgan Andrea Pistacchi – Bank of America Sanjeet Aujla – Credit Suisse Edward Mundy – Jefferies Operator HNV 2021 Full Year's Results ...

Financial Data and Key Metrics Changes - The company reported a net revenue growth of 14.1% organically, amounting to €1.3 billion, driven by strong volume growth and revenue per hectolitre growth [15][43] - Beer volume grew by 9.6%, with Heineken brand volume increasing by 19.6% [15][32] - Operating profit more than doubled, reaching €1.6 billion, with a margin of 16.3% [15][54] - Net profit tripled compared to the previous year, with EPS growing to €1.56 per share, although still 15% below 2019 levels [64][65] Performance by Business Lines - In the AMEE region, net revenue grew organically by 30.4%, and operating profit increased by 190.2%, with strong growth in South Africa and Nigeria [17] - The Americas saw net revenue and operating profit grow by 25.7% and 85.7% respectively, driven by Mexico and Brazil [19] - Asia Pacific experienced a beer volume decline of 1% organically, with net revenue increasing by 5.4% [23] - Europe reported a net revenue growth of 3%, with a beer volume decline of 9.7% in Q1, but a recovery to 13% growth in Q2 [29] Market Data and Key Metrics Changes - In Nigeria, beer volume grew 16.8% organically, with a premium portfolio growth close to 60% [18] - Mexico's beer volume fully recovered with growth in the mid-30s, while Brazil's price mix grew in the high 20s [20][21] - In Europe, on-trade volume was down by a low single digit for the first half, with off-trade growing ahead of 2019 [30][31] Company Strategy and Industry Competition - The company launched the EverGreen strategy aimed at delivering superior and profitable growth while navigating the ongoing pandemic [7][10] - The acquisition of United Breweries in India is seen as a significant opportunity for long-term growth, leveraging the large population and low per capita beer consumption [27][28] - The company is focusing on premiumization and expanding its portfolio, with new product launches in various markets [12][32] Management's Comments on Operating Environment and Future Outlook - Management expressed caution regarding the ongoing impact of COVID-19 and rising commodity costs, expecting full-year financial results to remain below 2019 levels [16][73] - The company anticipates margin pressure to intensify in the second half of the year due to input cost inflation [73] - Despite uncertainties, management is confident in the progress made towards the EverGreen strategy and the commitment of its workforce [75] Other Important Information - The company reported a significant currency translation impact of €567 million, decreasing net revenue by 6.1% [47] - The organizational redesign has been largely completed, with a target of delivering €2 billion in gross savings by 2023 [58][59] - Free operating cash flow improved to €650 million, a significant increase from the previous year [68] Q&A Session Summary Question: Early signs of EverGreen strategy evolution - Management highlighted the need for consumer-centric innovation and the positive momentum in brand Heineken's growth [80] Question: Confidence in delivering €2 billion cost savings - Management expressed confidence in the progress made and the programmatic approach to cost savings [88] Question: Excitement about India integration - Management is optimistic about the long-term growth potential in India, citing favorable demographics and the strength of the Kingfisher brand [82][84] Question: Input cost headwinds outlook - Management indicated that input costs have risen significantly and expect pressures to continue into the second half of the year [106] Question: Recovery of the on-premise channel in Europe - Management noted a slower recovery in Europe compared to the U.S., with ongoing uncertainties regarding the full return of on-trade volumes [100] Question: Clarification on €1 billion savings - Management clarified that the €1 billion savings is an annualized figure, not a gross number for 2021 [103]

Financial Performance Highlights - Heineken's Net Revenue (beia) increased organically by 14.1%[17], driven by an 8.2% increase in volume and a 5.5% increase in net revenue per hectoliter[41] - Operating Profit (beia) saw a significant organic increase of 109.3%[17, 43] - Net Profit (beia) increased by 320.3%[17] - Heineken® volume grew by 19.6%[17] compared to 2020 and 16.7% compared to 2019[31] Regional Performance - AMEE (Africa, Middle East, and Eastern Europe) region experienced a Net Revenue (beia) organic growth of 30.4% and Operating Profit (beia) organic growth of 190.2%[20], with beer volume up by 16.8%[20] - Americas region saw Net Revenue (beia) organic growth of 25.7% and Operating Profit (beia) organic growth of 85.7%[23], with beer volume up by 16.7%[23] - APAC (Asia Pacific) region's Net Revenue (beia) organic growth was 5.4%[25], but beer volume decreased by 1.0%[25], while Operating Profit (beia) organic growth was 15.9%[25] - Europe Region experienced Net Revenue (beia) organic growth of 3% and Operating Profit (beia) organic growth of 359.1%[28], with beer volume up by 0.8%[28] Strategic Initiatives - Digital sales value reached €1 billion in H1, more than double the previous year[33] - Heineken is accelerating investments in digital & technology, sustainability & responsibility, and marketing & sales[48] - Heineken is operationalising its 2030 "Raise the Bar" vision, focusing on environmental and social responsibility[34] Outlook - The company anticipates the pandemic will continue to impact the rest of the year[56] - Headwinds in input costs are expected in the second half of the year, with a material impact from commodity costs in 2022[56] - Operating profit margin in the second half is expected to be lower than the second half of 2020[56]

Heineken N.V. (OTCQX:HEINY) Q4 2020 Results Conference Call February 10, 2021 8:00 AM ET Company Participants Federico Martinez - IR Dolf van den Brink - CEO Laurence Debroux - CFO Conference Call Participants Trevor Stirling - Bernstein Sanjeet Aujla - Credit Suisse Simon Hales - Citi Richard Withagen - Kepler Ed Mundy - Jefferies Olivier Nicolai - Goldman Sachs Andrea Pistacchi - Bank of America Nik Oliver - UBS Celine Pannuti - JP Morgan Mitch Collett - Deutsche Bank Robert Vos - ABN AMRO Laurence Whyatt ...

THEINEKEN 1 Superior & profitable growth in a fast-changing world February 2021 Disclaimer 2 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 forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond HEINEKEN's ability to control or est ...

්‌HEINEKEN Heineken N.V. 2020 Half Year Earnings Release Dolf van den Brink, CEO Laurence Debroux, CFO Amsterdam | August 3, 2020 | Heineken N.V. 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 forward-looking statements. 1 Disclaimer Many of these risks and uncertainties rela ...

Heineken N.V. (OTCQX:HEINY) Q2 2020 Earnings Conference Call August 3, 2020 ET Company Participants Dolf van den Brink - Chief Executive Officer Laurence Debroux - Chief Financial Officer Jose Federico Castillo - Head of Investor Relations Conference Call Participants Trevor Stirling - Bernstein Edward Mundy - Jefferies Simon Hales - Citi Pinar Ergun - Morgan Stanley Tristan van Strien - Redburn Partners Operator Ladies and gentlemen, hello and welcome to the Heineken N.V 2020 Half Year Results. My name is ...

HEINEKEN Heineken N.V. 2019 Full Year Earnings Release Jean-François van Boxmeer, CEO Laurence Debroux, CFO Amsterdam | February 12, 2020 | Heineken N.V. 1 Disclaimer | --- | --- | |------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ ...