Heineken Holding N.V.

Heineken Holding is a holding company based in the Netherlands. Through its subsidiaries, Co. promotes the continuity, independence and stability of the Heineken group. This creates the conditions which enable Heineken N.V. to pursue its long-term policy in the interest of the shareholders, the staff and other stakeholders. Co. does not engage in operational activities itself. These have been assigned within the Heineken group to Heineken N.V. and its subsidiaries and associated companies. Through Heineken N.V., Co. is involved in the brewing and selling of beer.
  • TickerHEIO
  • ISINNL0000008977
  • ExchangeEuronext Amsterdam
  • SectorBeverages
  • CountryNetherlands

Analysts

Nikolaas Faes

HEINEKEN Q3 volumes driven by the America and Asia Pacific

Americas’ volume up 8.1% Asia Pacific’s volume up 4.8% Europe’s volume up 2.2% Africa, Middle East & Eastern Europe’s volume up 3.1%

Nikolaas Faes

Heineken: Here’s 2 China

Heineken: (BUY, Fair Value EUR95 (+9%)) Here’s 2 China Heineken announced this morning that it is investing EUR2.7bn for a 40% stake in CRH (Beer) that controls 51.67% of Chinese brewer CR Beer. CR Beer is Chinese market leader with an estimated 22% share of the market. Heineken has been struggling for a while in the Chinese market having been undermined with parallel imports from Europe. But with the partnership, the Heineken brand would be able to accelerate its nationwide presence

Alfred Glaser ...
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Delphine Brault
  • Emira Sagaama
  • Emmanuel Matot
  • Jean Sassus
  • Jerôme Bodin
  • Olfa Taamallah
  • Olivier Lebrun
  • Oussema Denguir
  • Pierre Corby
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/31/2018

...

Alfred Glaser ...
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Delphine Brault
  • Emira Sagaama
  • Emmanuel Matot
  • Jean Sassus
  • Jerôme Bodin
  • Olfa Taamallah
  • Olivier Lebrun
  • Oussema Denguir
  • Pierre Corby
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 31/07/2018

...

Olivier Lebrun

Heineken : Feedback from H1 conference call: risk of pressure on margins after 2018

>Main topics - The group confirmed that operating profit should accelerate in H2. The guidance for internal interest rates and the tax rate was unchanged (3% and 28% respectively). For the first half, the underlying price-mix was +2.9%, better than in 2017 (+2.5%). The Heineken brand continued to outperform the group’s sales (+7.5% in H1). Heineken 0.0 (non-alcohol) was very successful, but the group did not provide any precise figures. Volumes in the low and no-alcoh...

Nikolaas Faes

HEINEKEN Q3 volumes driven by the America and Asia Pacific

Americas’ volume up 8.1% Asia Pacific’s volume up 4.8% Europe’s volume up 2.2% Africa, Middle East & Eastern Europe’s volume up 3.1%

Nikolaas Faes

Heineken: Here’s 2 China

Heineken: (BUY, Fair Value EUR95 (+9%)) Here’s 2 China Heineken announced this morning that it is investing EUR2.7bn for a 40% stake in CRH (Beer) that controls 51.67% of Chinese brewer CR Beer. CR Beer is Chinese market leader with an estimated 22% share of the market. Heineken has been struggling for a while in the Chinese market having been undermined with parallel imports from Europe. But with the partnership, the Heineken brand would be able to accelerate its nationwide presence

Olivier Lebrun

Heineken : Feedback from H1 conference call: risk of pressure on margins after 2018

>Main topics - The group confirmed that operating profit should accelerate in H2. The guidance for internal interest rates and the tax rate was unchanged (3% and 28% respectively). For the first half, the underlying price-mix was +2.9%, better than in 2017 (+2.5%). The Heineken brand continued to outperform the group’s sales (+7.5% in H1). Heineken 0.0 (non-alcohol) was very successful, but the group did not provide any precise figures. Volumes in the low and no-alcoh...

Olivier Lebrun

Heineken : Feedback from H1 conference call: risk of pressure on margins after 2018

>Main topics - The group confirmed that operating profit should accelerate in H2. The guidance for internal interest rates and the tax rate was unchanged (3% and 28% respectively). For the first half, the underlying price-mix was +2.9%, better than in 2017 (+2.5%). The Heineken brand continued to outperform the group’s sales (+7.5% in H1). Heineken 0.0 (non-alcohol) was very successful, but the group did not provide any precise figures. Volumes in the low and no-alcoh...

Eric Monnier ...
  • Nikolaas Faes

Heineken: Strong H1 topline but disappointing operating profit

Heineken: (BUY, Fair Value EUR95 vs. EUR99 (+3%)) Strong H1 topline but disappointing operating profit Heineken published this morning strong H1 organic revenue growth of 5.6%, but disappointed at the operating profit level with organic growth of only 1.3%. Although for the full year, the company expects stronger operating profit performance (and same top line growth), we lower our full year operating profit forecasts by 4%. We also lower our fair value by 4% to EUR95 from EUR99.

A director bought 2,564,102 shares at 78.000EUR and

A director at Heineken Holding N.V. bought 2,564,102 shares at 78.000EUR and the significance rating of the trade was 67/100. 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. ...

Alfred Glaser ...
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Delphine Brault
  • Emira Sagaama
  • Emmanuel Matot
  • Jean Sassus
  • Jerôme Bodin
  • Olfa Taamallah
  • Olivier Lebrun
  • Oussema Denguir
  • Pierre Corby
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/31/2018

...

Alfred Glaser ...
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Delphine Brault
  • Emira Sagaama
  • Emmanuel Matot
  • Jean Sassus
  • Jerôme Bodin
  • Olfa Taamallah
  • Olivier Lebrun
  • Oussema Denguir
  • Pierre Corby
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 31/07/2018

...

Ahmed Ben Salem ...
  • Alexandre Iatrides
  • Anis Zgaya
  • Benoit Valleaux
  • Bruno Cavalier
  • Charles Lepetitpas
  • Christophe-Raphaël Ganet
  • Eric Beaudet
  • Fatma Agnès Hamdani
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Louis Boujard, CFA
  • Olivier Lebrun
  • Pierre Tegner
  • Steven Gould
  • Sven Edelfelt
  • Valentin Pernet
  • Vincent Maulay
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/30/2018

...

Ahmed Ben Salem ...
  • Alexandre Iatrides
  • Anis Zgaya
  • Benoit Valleaux
  • Bruno Cavalier
  • Charles Lepetitpas
  • Christophe-Raphaël Ganet
  • Eric Beaudet
  • Fatma Agnès Hamdani
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Louis Boujard, CFA
  • Olivier Lebrun
  • Pierre Tegner
  • Steven Gould
  • Sven Edelfelt
  • Valentin Pernet
  • Vincent Maulay
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 30/07/2018

...

Fatma Agnès Hamdani ...
  • Johanna Jourdain
  • Matthias Desmarais
  • Olivier Lebrun
  • Oussema Denguir
  • Pierre Tegner
  • Pierre Corby
  • Sylvain Goyon, CFA
  • Thomas Zlowodzki

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/10/2018

The market will be tempted to play a 40bp contraction (i.e. 5% on the basis of share prices on 6 July) in the risk premium linked to the temporary allaying of concerns about political risk in Europe and a trade war. Opt for 1/ the oil sector, via integrated oil companies, for which 2018 growth is visible (+39% estimated), accelerating and for which the valuation remains reasonable (P/CF 5.9x) and 2/ “defensive” segments overlooked during the period of market stress: food and beer for...

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Nikolaas Faes

Brewers | The beer sector in Italy

SECTOR | Brewers | The beer sector in Italy Tapping for growth • Western Europe is a no/low growth beer market but within the market there are definitely pockets of growth. The 420m prosperous Western Europeans consume 290m hl of beer p.a. and their growth in disposable income brings beer volume growth in Southern Europe (where per capita consumption is still modest) and premiumisation (craft, specialties, premium line extensions) across the region. Furthermore, the growing attention to health stimulates the no-and-low-alcohol segment. • These trends converge in the Italian market,...

Expert Corporate Governance Service (ECGS)

Proxy Report - 19/04/2018

We note that shareholders are not requested to vote on the proposed dividend in this meeting. We consider this to be deviating from market practise and we urge the Company to put proposed dividend up for shareholders approval. Under agenda item 8, it is proposed to amend the Articles of Association of the Company. The proposal to amend the Articles of Association is in particular driven by the wish to abolish the priority shares from the capital structure of Heineken Holding N.V. and brining the Articles of Association in line with the Code and current provisions in statutory Dutch law. Altho...

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