Heineken N.V.

Heineken is an international brewer and engaged in the production and distribution of beer brands in 178 countries. Co. is committed to the marketing and consumption of its more than 250 international premium, regional, local and specialty beers and ciders. These include Heineken®, Amstel, Anchor, Biere Larue, Bintang, Birra Moretti, Cruzcampo, Desperados, Dos Equis, Foster's, Newcastle Brown Ale, Ochota, Primus, Sagres, Sol, Star, Strongbow, Tecate, Tiger and Zywiec. In addition, Co. is the cider maker with brands such as Strongbow® and Bulmer's®. Some of its wholesalers also distribute wine, spirits and soft drinks.
  • TickerHEIA
  • ISINNL0000009165
  • ExchangeEuronext Amsterdam
  • SectorBeverages
  • CountryNetherlands

Analysts

Heineken N.V. - June 2019 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Heineken NV

Heineken NV

Heineken NV

Alexander Makar ...
  • Guy Sips
  • Jan Opdecam
  • Lenny Van Steenhuyse
  • Sandra Cauwenberghs
  • Wim Hoste

Morning Note: GLPG NA, HEIA NA, PIC BB, RET BB

Galapagos: Conf call feedback 1H19 Heineken: 1H below expectations, FY guidance maintained Picanol: Longer impact of trade war on Asian textile market Retail Estates: 1Q19-20 update

Heineken N.V. - June 2019 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Moody's announces completion of a periodic review of ratings of Heineken N.V.

Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Heineken N.V. Global Credit Research- 23 Jul 2019. Milan, July 23, 2019-- Moody's Investors Service has completed a periodic review of the ratings of Heineken N.V. and other ratings that are associated with the same analytical unit.

Heineken N.V.: Update following rating affirmation at Baa1

Our credit view of Heineken, reflecting its strong business profile as the second-largest brewer globally and strong cash flow, offset by its relatively high leverage.

Moody's affirms Heineken's Baa1/P-2 ratings; stable outlook

Rating Action: Moody's affirms Heineken's Baa1/P-2 ratings; stable outlook. Global Credit Research- 28 Jun 2019. Milan, June 28, 2019-- Moody's Investors Service has today affirmed Heineken N.V.' s Baa1 long-term issuer rating, Baa1 senior unsecured rating, Baa1 senior unsecured MTN programme rating and Prime-2 short-term issuer rating.

Heineken N.V.: Key Facts and Statistics - FYE December 2018

A summary company profile, detailing Heineken N.V.’s business operations and financial highlights.

Heineken NV

Alexander Makar ...
  • Guy Sips
  • Jan Opdecam
  • Lenny Van Steenhuyse
  • Sandra Cauwenberghs
  • Wim Hoste

Morning Note: GLPG NA, HEIA NA, PIC BB, RET BB

Galapagos: Conf call feedback 1H19 Heineken: 1H below expectations, FY guidance maintained Picanol: Longer impact of trade war on Asian textile market Retail Estates: 1Q19-20 update

Cecile De Coincy ...
  • Jean-Baptiste Rouphael
  • Valentin Pernet

Carrefour : 14th Sustainability Forum – overview of our meetings

We recently held our 14th Sustainability Forum, a unique platform for SRI investors to meet with companies to discuss CSR themes and to assess their strategies in light of prevailing trends and long-term challenges. Among the key recurring themes this year were the formulation of an overarching “raison d’être”, defining carbon targets in line with the 2°C trajectory (SBT - science based targets), the circular economy and talent retention. - - >A “raison d’être” approach: a...

Cecile De Coincy ...
  • Jean-Baptiste Rouphael
  • Valentin Pernet

Carrefour : 14ème Sustainability Forum – Synthèse des entretiens

Nous avons organisé, pour la quatorzième fois, notre Sustainability Forum, un évènement unique permettant aux investisseurs ISR de rencontrer les entreprises sur les thématiques E, S et G et d’en évaluer la stratégie à l’aune des tendances et des enjeux de long terme. Nous relevons des thématiques particulièrement récurrentes pour ce millésime : la formulation d’une raison d’être structurante, la définition d’objectifs carbone s’alignant sur une trajectoire 2° (SBT – Science Base...

Philip Gorham

Morningstar | Heineken Again Sets the Bar High in 1Q; Shares Fully Priced

Heineken is tracking ahead of our volume estimates for this year in every geographical segment except the Americas after a strong first-quarter trading update. We believe the firm increased volume at a rate above the market, in line with our narrow moat and positive moat trend ratings, which reflect Heineken's strengthening cost advantage over smaller competitors as its premium portfolio drives share gains over time. At this early stage in the year, however, we are maintaining our forecasts and reiterating our EUR 88 fair value estimate. Although we are impressed by Heineken's recent performan...

1 director sold

A director at Heineken N.V. sold 20,000 shares at 99.290EUR and the significance rating of the trade was 70/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board ...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Benoit Valleaux
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Fatma Agnès Hamdani
  • Florent Laroche-Joubert
  • Jean Sassus
  • Louis Boujard
  • Martial Descoutures
  • Olivier Lebrun
  • Philippe Ourpatian
  • Pierre Corby
  • Pierre Tegner
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 02/14/2019

...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Benoit Valleaux
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Fatma Agnès Hamdani
  • Florent Laroche-Joubert
  • Jean Sassus
  • Louis Boujard
  • Martial Descoutures
  • Olivier Lebrun
  • Philippe Ourpatian
  • Pierre Corby
  • Pierre Tegner
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 14/02/2019

...

Olivier Lebrun

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/04/2018

...

Olivier Lebrun

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 04/10/2018

...

Heineken NV

Heineken NV

HEINEKEN NV increases its risk exposure and slightly lowers to Neutral

HEINEKEN NV (NL), a company active in the Brewers industry, now shows a lower overall rating. The independent financial analyst theScreener confirms the fundamental rating of 2 out of 4 stars. However, the market behaviour deterioration triggered a risk requalification, which can be thus described as moderately risky. theScreener believes that increased risk justifies the general evaluation downgrade to Neutral. As of the analysis date July 12, 2019, the closing price was EUR 99.32 and its expected value was estimated at EUR 97.91.

Heineken NV

Heineken NV

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/Heineken, Coca-Cola, Deutsche Bank, CS, Van Lanschot Kempen, Verizon, Akzo and Enagas

Heineken (HEIANA) grew its beer volumes by +4.3% on an organic basis in 1Q19, set against Bloomberg consensus of +3.3% and the 1Q18 comp of +4.3%. Heineken kept its outlook for FY19 and continues to expect mid-single digit organic growth in operating profit (beia). The company sees a higher positive impact from currencies on operating profit to the tune of €80m, up from €50m. We view today's update as broadly neutral for spreads. (For full stories, download report)

ING
Hendrik Wiersma ...
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Benelux Credit Digest/Issuer Profiles

Once again, it is with great pleasure that we present the eleventh edition of our Benelux Credit Digest, our annual overview of the key fundamentals and credit metric developments of the most important corporate and financial credits in Belgium, the Netherlands and Luxembourg.

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Marcel Klok
  • Nadège Tillier
  • Philippe Ledent

BNLX + /European and BeNeLux credit value mapping

Strategy and Supply . Retracement of 2018 sell-off almost complete . Supply surprisingly robust on the back of US issuers . BeNeLux supply dominated by ABIBB $ trade . We like the 2022-25 part of the curve, selective BBB exposure advised . TLTRO announcement increases the long odds of CSPP2

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/Heineken, Santander, ABN, Akzo and Naturgy

Heineken (HEIANA) reported solid FY18 numbers this morning, with net revenue up 6.1% organically to €22,471m compared to the restated FY17 figure. Consensus was for organic net revenue growth of 5.5%. Net revenue grew 4% on a reported basis. Consolidated beer volumes increased 4.2%, beating the company-compiled estimate of 4%. For 2019 Heineken expects superior top line growth despite continued volatility in economic conditions. With the expectation of higher input and logistic costs, operating profit (beia) is seen to grow by mid-single digits. Capex is expected to grow slightly to €2bn from ...

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/KPN, Verizon, Telia, Telenor, Deutsche Bank, Barclays, Nordea, Intesa Sanpaolo, Heineken, Fortum and Iberdrola

TMT: • KPN (KPN) reported satisfactory 3Q18 results this morning. We view KPN's bonds as fairly valued versus Telefónica, with the exception of the longer dated KPN0.625 4/25 and KPN1.125 9/28 which we deem as expensive. (For full story, please download report). • Verizon (VZ) released a strong set of 3Q18 results yesterday before the opening bell of the US market. We view Verizon's €-bonds as fairly valued as they now trade inside Vodafone and offer a pick up versus Orange, most notable from the seven year area onwards. • S&P has downgraded Telia (TELIAS) to BBB+, from A-/CreditWatch negati...

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Expert Corporate Governance Service (ECGS)

Heineken NV - AGM 25 April 2019

In general, Heineken is in compliance with the Dutch regulations relating to the organisation and procedures of the Annual General Meeting. ECGS recommends to vote FOR all proposals. There are no further peculiarities.

Matthieu DRIOL

Short term view - HEINEKEN : Rising consolidation.

The background trend is clearly bearish. The negative MACD confirms the trend. The rise is a consolidation that will soon bump against the level at €82.42. The next target is at €76.60, then €75.31. Passing €82.42 would question the continuation of the fall.

Matthieu DRIOL

Analyse court terme - HEINEKEN : La reprise est une consolidation.

La tendance de fond est clairement orientée à la baisse. Le MACD est négatif, il confirme cette tendance. La reprise est une consolidation qui va buter sur 82,42 € prochainement. Le prochain objectif est à 76,60 €, puis 75,31 €. Le franchissement de 82,42 € remettrait en cause la suite de la baisse.

Matthieu DRIOL

Analyse court terme - HEINEKEN : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 76,60 €. La tendance de fond serait remise en cause en cas de franchissement de 82,42 €.

Matthieu DRIOL

Short term view - HEINEKEN : The background trend is clearly bearish.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at €76.60. The background trend would be questioned should prices rise above €82.42.

Matthieu DRIOL

Medium term view - HEINEKEN : The trend is uncertain.

The trend is uncertain. Prices are falling and they may accelerate to the downside. A new bearish trend is attempting to emerge.

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