Heineken Holding N.V. reports 2014 third quarter results

Amsterdam, 22 October 2014 - Heineken Holding N.V. (EURONEXT: HEIO; OTCQX: HKHHY) today announced its trading update for the third quarter of 2014.

HIGHLIGHTS

• Group revenue +0.7% organically, with group revenue per hectolitre up 0.9%
• Group beer volume +0.1% organically, with positive growth momentum in Asia Pacific, Africa Middle East and the Americas region, offset by lower volumes in Europe
• Heineken® premium brand +3%, with growth across all regions
• Full year outlook unchanged; expect operating profit (beia) margin expansion in 2014 to be ahead of medium term target level of around 40 basis points per annum. 

Heineken Holding N.V. engages in no activities other than its participating interest in Heineken N.V. and the management and supervision of and provision of services to that company.

OPERATIONAL OVERVIEW

Key figures1	Consolidated			Group
(in mhl or € million)	3Q14	Total  growth %	Organic growth %	3Q14	Total  growth %	Organic growth %
Revenue2	5,101	-1.5	0.2	5,577	-1.7	0.7
Beer volume	48.0	-0.6	-0.2	52.4	-0.2	0.1

¹ Refer to the Definitions section for an explanation of non-IFRS measures and other terms used throughout this report
² Net of Heineken N.V. head office & eliminations

Group revenue increased 0.7%, organically, reflecting a total group volume decline of 0.2% and higher group revenue per hectolitre of 0.9%. Consolidated revenue decreased 1.5% to €5,101 million. This includes a negative net consolidation impact of 1.3% (-€67 million) mainly from the divestment of the Hartwall business in Finland in August 2013 and an unfavourable foreign currency translational effect of 0.5% (-€24 million). Organically, consolidated revenue grew 0.2%.

Group beer volume grew by 0.1% organically, led by sustained growth of the Asia Pacific, Africa Middle East and the Americas regions. Volume performance in Europe (compared to the first half of 2014) was slightly below expectations owing to unseasonably wet weather conditions.

Heineken® (in mhl or %)	3Q14	Organic growth %	YTD 2014	Organic growth %
Heineken® in premium segment	7.8	3.0	21.9	5.3

Heineken® volume in the international premium segment grew by 3%. Heineken® brand growth was particularly strong in markets including China, Brazil, Mexico, Taiwan, Russia, Canada and the UK. This growth was supported by continued activation of the 'Open Your World' marketing campaign.