Brief: Heineken Expects FY Operating Profit (Beia) To Grow Organically In Range Of 4% To 8%
29/07/2024 06:14
July 29 (Reuters) - Heineken NV HEIN.AS :
* H1 TOTAL BEER VOLUME 118.2 MHL VERSUS 120.4 MHL IN
COMPANY-COMPILED CONSENSUS
* OUTLOOK FOR FULL YEAR UPDATED: OPERATING PROFIT (BEIA)
EXPECTED
TO GROW ORGANICALLY IN RANGE OF 4% TO 8%
* H1 REVENUE EUR 17,823 MILLION
* H1 NET REVENUE (BEIA) 6.0% ORGANIC GROWTH; PER HECTOLITRE
4.3%
* H1 BEER VOLUME ORGANIC GROWTH 2.1%; HEINEKEN® VOLUME 9.2%
GROWTH
* H1 OPERATING PROFIT EUR 1,542 MILLION; OPERATING PROFIT
(BEIA)
ORGANIC GROWTH 12.5%
* H1 DILUTED EPS (BEIA) EUR 2.15; UP 5.9%
* OUTLOOK FY : WE EXPECT AN EFFECTIVE INTEREST RATE (BEIA)
OF
AROUND 3.5% (2023: 3.4%)
* OUTLOOK FY : UPDATED VIEW ON AVERAGE EFFECTIVE TAX RATE
(BEIA),
AND NOW EXPECT THIS TO LAND AT AROUND 28% (2023: 26.8%)
* OUTLOOK FY : IMPROVEMENT RELATIVE TO PREVIOUS GUIDANCE OF
29%,
INCLUDING FURTHER INSIGHTS INTO BRAZIL'S 2024 TAX LAW CHANGES
* OUTLOOK FY : EXPECT INVESTMENTS IN CAPITAL EXPENDITURE
RELATED
TO PROPERTY, PLANT AND EQUIPMENT AND INTANGIBLE ASSETS TO BE
BELOW 9% OF NET REVENUE (BEIA)
* OUTLOOK 2024: CONFIDENT TO ACHIEVE OUR C.€500 MILLION
AMBITION
FOR 2024, AHEAD OF OUR MEDIUM-TERM COMMITMENT OF €400 MILLION
PER YEAR
* INTERIM DIVIDEND OF €0.69 PER SHARE (2023: €0.69) WILL BE
PAID
ON 8 AUGUST 2024
* H1 TOTAL CONSOLIDATED VOLUME 133.4 MHL VERSUS 136.8 MHL IN
COMPANY-COMPILED CONSENSUS
* H1 COMPANY-COMPILED CONSENSUS: TOTAL CONSOLIDATED
OPERATING
PROFIT (BEIA) EUR 2.15 BILLION; NET PROFIT (BEIA) EUR 1.20
BILLION
* H1 COMPANY-COMPILED CONSENSUS: TOTAL CONSOLIDATED NET
REVENUE
(BEIA) EUR 15.19 BILLION, +7.7% ORGANICALLY
* H1 COMPANY-COMPILED CONSENSUS: TOTAL BEER VOLUME 120.4
MHL,
+3.4% ORGANICALLY
* H1 COMPANY-COMPILED CONSENSUS: TOTAL CONSOLIDATED VOLUME
136.8
MHL, +3.2% ORGANICALLY
Source text: https://tinyurl.com/utmen5dv
Further company coverage: HEIN.AS
(Gdansk Newsroom)
((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))