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More revenue, less net profit Heineken in H1

Xinhua, August 1, 2016 Adjust font size:

Heineken had a rise of revenue in the first half of 2016, but net profit almost halved compared to the same period last year, the Dutch brewer announced on Monday.

Revenue increased from 9.896 billion euros(11.05 billion U.S. dollars) in the first half of 2015 to 10.094 billion euros in H1 of 2016, a growth of 4.7 percent organically with revenue per hectoliter up 0.8 percent.

Net profit went down from 1.144 billion euros in the first half of 2015 to 586 million euros in the first half of 2016. The net profit before exceptional items and amortization grew from 915 million euros in H1 2015 to 977 million euros in the first half of this year.

The operating profit amounted to 1.705 billion euros in the first half of 2016, compared to 1.549 billion euros in the same period one year ago.

Consolidated beer volume rose by 4.1 percent organically with growth in the Americas, the Asia Pacific zone and in Europe, offsetting the weaker volumes in Africa, the Middle East and Eastern Europe. The performance of Heineken in Brazil, Britain, Mexico, New Zealand, Cambodia, Romania, China, France and Ireland was strong in particular, according to the Dutch brewer. Russia, Vietnam and Algeria showed meager figures.

"Our first half performance reflects a very good first quarter, also helped by softer comparatives, and a solid second quarter," said CEO Jean-Francois van Boxmeer in a press release.

"We are convinced that our well-balanced global footprint, sustained investment in brands and innovation, and focus on the premium segment continue to give us a unique competitive advantage to win in our markets," the CEO added. "Despite adverse economic conditions in some developing markets and currency headwinds, we expect full year margin expansion." Endit