Heineken FY19 Net Profit Up 13.2%; Sees Profit Growth In FY20

Dutch brewer Heineken NV (HKHHF.PK) reported Wednesday that its fiscal 2019 net profit on IFRS basis rose 13.2 percent to 2.17 billion euros from 1.91 billion euros in the prior year. Earnings per share increased 12.5 percent to 3.77 euros from 3.35 euros a year ago.

Net profit before exceptional items and amortisation or beia rose 4.3 percent from last year to 2.52 billion euros, while earnings per share increased 4.9 percent to 4.38 euros.

IFRS operating profit for the year increased 16.4 percent to 3.63 billion euros from 3.12 billion euros in the prior year. Operating profit (beia) grew 3.9 percent organically, driven by strong revenue growth partially offset by input cost inflation and higher investments in global sponsorships, e-commerce and technology upgrades.

Net revenue on IFRS basis for the year grew 6.6 percent to 23.97 billion euros from 22.49 billion euros last year.

Net revenue (beia) for the year increased 5.6 percent organically to 23.89 billion euros, with a 3.3 percent increase in net revenue (beia) per hectolitre and a 2.2 percent increae in total consolidated volumes. Consolidated beer volume grew 3.1 percent for the year.

For 2019, Heineken said that payment of a total cash dividend of 1.68 euros per share will be proposed to the Annual General Meeting on 23 April 2020. This represents an increase of 5.0 percent versus 2018, translating into a 38.4 percent payout.

If approved, the company will pay a final dividend of 1.04 euros per share on 7 May 2020, as an interim dividend of 0.64 euros per share was paid on 8 August 2019.

Looking ahead to full year 2020, Heineken expect its operating profit (beia) to grow by mid-single digit on an organic basis, barring major negative macro-economic and political developments. The company also projects superior top-line growth driven by volume, price and premiumisation.



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