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
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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.
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2015 Key Highlights
Strong performance delivering on strategy
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
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 %
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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 :
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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:
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®
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
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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
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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
•
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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.
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Video
Moderate Drinkers Wanted
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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.
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Agenda
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2015
a.
b.
c.
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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
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Agenda
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2015 - continued
d.
e.
f.
g.
2
Authorisations
a.
b.
c.
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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
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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
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