Heineken Holding N.V. reports 2016 half year results

Amsterdam, 1 August 2016 - Heineken Holding N.V. (EURONEXT: HEIO; OTCQX: HKHHY) today announced:

• The net result of Heineken Holding N.V.'s participating interest in Heineken N.V. for the first half year of 2016 amounts to €296 million
• Organic revenue +4.7% with revenue per hectolitre up +0.8%

Consolidated beer volume +4.1% with growth in Americas, Asia Pacific and Europe offsetting weaker volume in Africa Middle East & Eastern Europe

Heineken® volume in premium segment +2.6%

Operating profit (beia) +12.6% organically

Net profit (beia) of €977 million, up 11.2% organically

FY 2016 margin expansion expected to be in line with medium term guidance

FINANCIAL SUMMARY

Key financials1,2	HY16	HY15	Total	Organic
(in mhl or € million unless otherwise stated)			growth %	growth %
Revenue	10,094	9,896	2.0	4.7
Revenue/hl (in €)	91	96	-4.9	0.8
Operating profit (beia)	1,705	1,549	10.1	12.6
Operating profit (beia) margin	16.9%	15.7%	124 bps
Net profit (beia)	977	915	6.8	11.2
Net profit of Heineken Holding N.V.	296	576	-49
EPS (in €)	1.03	2.00	-49
Free operating cash flow	541	486	11.3
Net debt/ EBITDA (beia)3,4	2.4	2.3

¹ Consolidated figures are used throughout this report, unless otherwise stated; please refer to the Glossary section for an explanation of terms used throughout this report