H1 update: Organic revenue is up +5.7% (cons. 4.2%) with beer volumes up +2.6% (cons. 1.8%, Q2: +4.2%) and revenue per hl up +3.4%. On a reported basis, sales were up +3.8% in H1, whereas the operating margin beia expanded to 17.2% (+34bp) in spite of margin contraction in Africa (-190bp due to the Nigerian naira but up on an organic basis). OG by region: Africa, ME & EE +11.5% (driven by stronger pricing), the Americas +6.3%, Asia Pacific +4.5%, Europe +3.6%. The Heineken brand’s v
31 Jul 2017
Acceleration in Q2
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Acceleration in Q2
Heineken NV (HEIA:WBO) | 0 0 1.6% | Mkt Cap: 49,490m
- Published:
31 Jul 2017 -
Author:
Anna Zyniewicz -
Pages:
2
H1 update: Organic revenue is up +5.7% (cons. 4.2%) with beer volumes up +2.6% (cons. 1.8%, Q2: +4.2%) and revenue per hl up +3.4%. On a reported basis, sales were up +3.8% in H1, whereas the operating margin beia expanded to 17.2% (+34bp) in spite of margin contraction in Africa (-190bp due to the Nigerian naira but up on an organic basis). OG by region: Africa, ME & EE +11.5% (driven by stronger pricing), the Americas +6.3%, Asia Pacific +4.5%, Europe +3.6%. The Heineken brand’s v