Heineken Holding NV (CHIX:HEIOa)
€ 65.63 (0%) Market Cap: 18.76 Bil Enterprise Value: 46.01 Bil PE Ratio: 37.87 PB Ratio: 1.97 GF Score: 75/100
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Full Year 2024 Heineken NV Earnings Call Transcript

Feb 12, 2025 / 01:00PM GMT
Release Date Price: €67.33 (+14.16%)

Key Points

Positve
  • Heineken Holding NV (HKHHF) achieved broad-based beer volume growth across all four regions, demonstrating strong market presence.
  • The company reported an 8.3% growth in operating profit beia, with a margin increase of 40 basis points to 15.1%.
  • Heineken's premium beer brands grew by 5%, significantly outpacing the overall beer portfolio growth.
  • The company announced a new EUR1.5 billion share buyback program, indicating strong cash flow and shareholder returns.
  • Heineken 0.0, the non-alcoholic beer, grew by 10%, reinforcing the company's leadership in the non-alcoholic segment.
Negative
  • Heineken Holding NV (HKHHF) faces macroeconomic challenges, including weak consumer sentiment in Europe and geopolitical uncertainties.
  • The company experienced a decline in net revenue beia in Europe by 1.5%, partly due to lower intercompany exports.
  • Currency devaluation, particularly in Nigeria and Ethiopia, negatively impacted financial results.
  • The company anticipates mid-single-digit increases in variable costs per hectoliter, which could pressure margins.
  • Despite improvements, the profitability in Africa, especially Nigeria, remains a concern due to economic volatility.
Operator

Hello, everyone, and welcome to the Heineken NV full year 2024 results call. My name is Lydia, and I'll be your operator today. (Operator Instructions)

I'll now hand you over to Tristan Van Strien, Director of Investor Relations, to begin. Please go ahead.

Tristan van Strien;Dolf van Den Brink
Heineken NV - Director of Investor Relations;Heineken NV -

Thank you, Lydia. Good afternoon, everybody from Amsterdam. Thank you for joining us for today's live webcast of our 2024 full year results. Your host will be Dolf van den Brink, our CEO; and Harold van den Broek, our CFO.

Following the presentation, we will be happy to take your questions. The presentation includes forward-looking statements and expectations based on management's current views and involve known and unknown risks and uncertainties, and it is possible that the actual results may differ materially. For more information, please refer to the disclaimer on the first page of this presentation.

I will now turn the call over to Dolf. Dolf?

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