Heineken N.V. 2016 AGM presentation
Transcription
Heineken N.V. 2016 AGM presentation
AGM 2016 HEINEKEN N.V. Strong performance delivering on strategy Jean-François van Boxmeer CHAIRMAN OF THE EXECUTIVE BOARD/CEO AMSTERDAM, 21 APRIL 2016 1 Disclaimer This presentation contains forward-looking statements with regard to the financial position and results of HEINEKEN’s activities. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond HEINEKEN’s ability to control or estimate precisely, such as future market and economic conditions, the behaviour of other market participants, changes in consumer preferences, the ability to successfully integrate acquired businesses and achieve anticipated synergies, costs of raw materials, interest rate and foreign exchange fluctuations, change in tax rates, changes in law, changes in pension costs, the actions of government regulators and weather conditions. These and other risk factors are detailed in HEINEKEN’s publicly filed annual reports. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this presentation. HEINEKEN does not undertake any obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date of these materials. Market share estimates contained in this presentation are based on outside sources such as specialised research institutes in combination with management estimates. 2 2015 Key Highlights Strong performance delivering on strategy 3 Organic revenue +3.5% with rev/hl up +1.3% Consolidated beer volume +2.3% organically with growth from Americas, Asia Pacific and Europe more than offsetting weaker volume in Africa Middle East & Eastern Europe Heineken® volume +3.5% with growth in all regions Innovation rate 9.2% contributing €1.9bn of revenue Operating profit (beia) +6.9% organically Operating profit margin expansion +23bps, in line with full year 2015 guidance Diluted EPS (beia) up 17% at €3.57 Proposed dividend 2015: € 1.30 (up by 18%. 2014: € 1.10) Diversified Footprint Driving Balanced Growth 2015 FY Organic growth % 4 HEINEKEN NV AFRICA MIDDLE EAST & EASTERN EUROPE AMERICAS ASIA PACIFIC EUROPE Consolidated beer volume 2.3 -2.0 5.1 6.3 1.3 Revenue per hl 1.3 4.3 3.1 -2.1 -0.2 Revenue 3.5 2.7 8.5 4.1 1.4 Operating profit (beia) 6.9 -11 15 9.7 7.3 ® Heineken : 5 Volume Growth Across All Regions Heineken® volume in the premium segment +3.5% Double digit growth in Brazil, CCU markets, the UK, South Africa and Mexico Volume growth in Vietnam and continued improvement in the US Successful UEFA Champions League, James Bond and Rugby World Cup activation during 2015 Exciting pipeline for 2016, including the “Moderate Drinkers Wanted” and Cities campaigns Videos: 6 ® Heineken Brand Innovations Contributed €1.9bn of Revenue Innovation Rate of 9.2% Innovation rate1 9.2% 7.7% 4.1% 2011 5.3% 2012 5.9% 2013 2014 LOW/NO ALCOHOL 28% CAGR €0.7bn 2011 7 2015 The innovation rate is calculated as revenues generated from innovation introduced in the past 40 quarters for a new category, 20 quarters for a new brand and 12 quarters for all other innovations, excluding packaging renovations divided by total revenue 1 IMPROVING DRAUGHT 2015 Innovation revenue €1.9bn LEADING INNOVATION IN CIDER CRAFT/VARIETY Delivering Further Margin Expansion In line with full year 2015 guidance +23bps +46bps 16.2% -23bps 2014FY operating margin(beia) Dilutive impact Empaque • 8 Underlying improvement 16.5% 2015FY operating margin(beia) Delivered in a balanced way through effective revenue management, continued focus on innovation, and investment in our brands, combined with cost effectiveness Sustainability Highlights 2015 Key new partnerships established at both global and local level to support delivery on 2020 targets. Water use now reduced to 3.7 per hl of beer produced. 36% less CO2 emissions (per hl) in production since 2008. 21% of barley, 53% of hops and 71% of bittersweet apples were sourced sustainably, exceeding 2015 targets. Across Africa €23.6 million directly contributed to local communities. The Heineken brand launch “Moderate Drinkers Wanted” the latest global moderation campaign, aimed making responsible consumption aspirational. 9 Video Moderate Drinkers Wanted 10 2016 Q1 Highlights Consolidated beer volume grew 7.0% organically, positive across all regions. Heineken ® volume in the premium segment grew 4.8% Full year 2016 expectations unchanged. Adverse currency development continues to weigh on results and the impact of this could increase throughout the year. 11 Agenda 1 2015 a. b. c. 12 Report of the Executive Board for the financial year 2015 Implementation of the remuneration policy for the Executive Board Adoption of the 2015 financial statements of the Company (voting item) Report Deloitte REPORT OF THE EXECUTIVE BOARD • Prepared in accordance with Part 9 Book 2 Dutch Civil Code • Consistent with consolidated financial statements MATERIALITY Company and consolidated financial statements of Heineken N.V. KEY AUDIT MATTERS • • • • • • Revenue recognition Returnable packaging Goodwill Taxes Initial audit engagement Internal controls over financial reporting • Materiality for the financial statements as a whole € 100m • Based on profit before tax (4%) SCOPE • Assurance procedures are performed on 27 components • Audit coverage • Use of various specialists © 2016 Deloitte The Netherlands 13 Agenda 1 2015 - continued d. e. f. g. 2 Authorisations a. b. c. 14 Explanation of the dividend policy Adoption of the 2015 dividend proposal for 2015 (voting item) Discharge of the members of the Executive Board (voting item) Discharge of the members of the Supervisory Board (voting item) Authorisation of the Executive Board to acquire own shares (voting item) Authorisation of the Executive Board to issue (rights to) shares (voting item) Authorisation of the Executive Board to restrict or exclude shareholders’ pre-emptive rights (voting item) Agenda 3 Composition Supervisory Board a. b. c. Re-appointment of Mr. G.J. Wijers as member of the Supervisory Board (voting item) Appointment of Mrs. P. Mars-Wright as member of the Supervisory Board (voting item) Appointment of Mrs. Y. Brunini as member of the Supervisory Board (voting item) Closing 15