HEINEKEN N V/S ADR (OTCMKTS:HEINY) enjoyed a quiet day yesterday as it closed at the end of the last trading session with a gain of 0.13%. The volume of the day at 305,000 was higher than the daily average of 135,000, none of the numbers being too significant. The stock has been in an uptrend for a long time now, oscillating inside a wide rising channel. It broke out above the upper boundary last week, signaling a major acceleration in bullish momentum, evident from the immediate gap up moves. Much more upside can be expected now.
HEINEKEN N V/S ADR (OTCMKTS:HEINY) has reported the financial results for recently concluded 3Q2015. The biggest highlight of the result announcement was 7.5% organic growth in its consolidated revenues and 1.8% hike in revenue per hectoliter.
Overall consolidated revenue increased 8% to touch whopping €5,509 million. A favorable currency benefit of €41m helped the company surpassing €5,500 mark despite a negative consolidation effect of €17 million.
Financial Highlights
When it comes to consolidated beer volume for the quarter, Heineken showed a reasonable hike of 5.4% with excellent growth in Europe, Asia-Pacific and Americas, whereas flat growth in Africa, Eastern Europe and the Middle East. It was due to company’s excellent performance in Europe and Americas that led it to achieve 3.9% growth in the premium segment.
It has kept the operating margin expansion guidance for FY 2015 unchanged; however, the guidance on tax, foreign currency and the interest rate has been revised.
The financial performance of the company during first nine months was up to the mark. The total profit for the first nine months of 2015 surpassed €1,776 million as compared to €1,091 million for the same period in 2014.
The senior management of Heineken’s delighted to announce the results and hoped that company’s financial performance would continue to improve in the coming months. According to Jean-François van Boxmeer, CEO & President-Executive Board, Heineken, this performance is in line with company’s performances in the previous quarters of 2015. The excellent portfolio of brands and well-balanced global footprint of Heineken has helped it maintain significant top and bottom line growth.
Based on these financial figures, it now forecasts an average interest rate of c.3.2% during the remaining months of 2015 as compared to 3.7% in the last year. Apart from this, Heineken also expects the effective tax rate to revolve around 28% as compared to 29.4% in 2014.
