Heineken 9-month Profit, Beer Volume Rise; Affirms FY Outlook
Dutch brewer Heineken N.V. (HKHHF.PK) reported Wednesday that its net profit for the nine months of 2017 was 1.486 billion euros, up from 1.239 billion euros in the prior-year period.
The prior-year results included an asset impairment of 233 million euros in the Democratic Republic of Congo or DRC.
In its trading update, the company said consolidated beer volume for the nine months increased 6.8 percent from last year to 161.3 million hl. Organically, beer volume grew 2.5 percent.
In the third quarter, beer volume grew 11.1 percent on a reported basis and 2.5 percent organically to 60 million hl. This benefited from growth in Asia Pacific, Americas and Africa, Middle East & Eastern Europe, offsetting lower volume in Europe against tough comparatives.
Heineken volume in the third quarter grew 3.4 percent, driven by Brazil, South Africa, Russia and Mexico.
Looking ahead, the company said its full-year expectations remain unchanged.
On 22 September 2017, Heineken placed 12-year Notes with a coupon of 1.50 percent for a principal amount of 800 million euros.
Following the completion of the acquisition of Punch Securitisation A on 29 August 2017, Heineken decided to terminate the securitisation structure and has since repaid all outstanding Punch A notes, with a notional amount of 864 million euros, by 4 October 2017. (dpa)
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