Heineken Holding N.V. reports 2017 first quarter Trading Update

Amsterdam, 19 April 2017 - Heineken Holding N.V. (EURONEXT: HEIO; OTCQX: HKHHY) today announces its trading update for the first quarter of 2017.

KEY HIGHLIGHTS

• Consolidated beer volume +0.6% organically, with growth in Asia Pacific and Europe offsetting slightly lower volume in Americas and Africa, Middle East & Eastern Europe 
• Heineken® volume +2.5% 

Full year expectations remain unchanged

The first quarter is seasonally less significant in terms of both volume and profit to full year HEINEKEN* results.

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


FIRST QUARTER VOLUME BREAKDOWN

Consolidated beer volume1 (in mhl or %)	1Q17		Total  growth %		Organic growth %		1Q16
Consolidated beer volume	44.0		1.0		0.6		43.5

Heineken®2 (in mhl or %)	1Q17		Organic growth  %
Heineken®	7.8		2.5

Heineken® volume² grew organically by  2.5% in the first quarter. Key markets contributing to this growth included South Africa, Brazil, the US and Italy, which more than offset weaker volume in Vietnam due to the earlier Tet timing (Vietnamese New Year).

^*  HEINEKEN means Heineken Holding N.V., Heineken N.V., its subsidiaries and interests in joint ventures and associates.
¹  Refer to the Definitions section for an explanation of organic growth.
² Heineken volume is now total Heineken® volume including the Netherlands.

REPORTED NET PROFIT OF HEINEKEN N.V.
Reported net profit of Heineken N.V. in the quarter was €293 million (2016: €265 million).

TRANSLATIONAL CURRENCY UPDATE 
Using spot rates as at 13 April 2017 for the remainder of this year, the calculated negative currency translational impact would be approximately €30 million at consolidated operating profit (beia), and no impact at net profit (beia). Foreign exchange markets remain very volatile.