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Heineken FY18 Net Profit, Beia, Up 12.5% Organically - Quick Facts

Heineken NV (HKHHF.PK) reported that its fiscal 2018 net profit declined 1.6% to 1.90 billion euros. EPS was 3.34 euros, down 1.5%. The company noted that its net profit included 183 million euros of impairments, mainly in the DRC. Net profit (beia) improved 12.5% to 2.42 billion euros, from prior year. EPS (beia) was 4.25 euros, up 7.9%. Fiscal 2018 operating profit (beia) increased 6.4% organically, with a faster rate in the second half of the year than in the first driven by higher revenue growth and overall slower growth of expenses despite continued pressure from higher input and logistics costs, the company said.

Fiscal year net revenue (beia) increased 6.1% organically to 22.47 billion euros, with a 4.0% increase in total consolidated volume and a 2.0% increase in revenue (beia) per hectolitre. IFRS net revenue improved 4% to 22.47 billion euros. Consolidated beer volume grew 4.2% organically in 2018, with 4.5% growth in the first half and 4.0% growth in the second half.

For 2019, the company expects operating profit (beia) to grow by mid-single digit on an organic basis, excluding any major unforeseen macro economic and political developments.

The company said, for 2018, payment of a total cash dividend of 1.60 euros per share will be proposed to the Annual General Meeting of Shareholders on 25 April 2019. This represents an increase of 8.8% versus 2017, translating into a 37.6% payout. If approved, a final dividend of 1.01 euros per share will be paid on 8 May 2019, as an interim dividend of 0.59 euros per share was paid on 9 August 2018.

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