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    HEIA   NL0000009165

HEINEKEN N.V.

(HEIA)
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Heineken N : India's United Breweries becomes part of the HEINEKEN group

07/30/2021 | 02:30am EDT
  • HEINEKEN obtains controlling interest following UBL’s annual general meeting
  • UBL becomes a top HEINEKEN operating company, Kingfisher a top 5 global brand

Amsterdam, 30 July 2021Heineken N.V. (HEINEKEN) announces that, following United Breweries Limited’s (UBL) annual general meeting on 29 July 2021, it has obtained control of UBL in India. This follows HEINEKEN’s recent acquisition of additional ordinary shares in UBL on 23 June 2021, taking its shareholding in UBL from 46.5% to 61.5%.

Dolf van den Brink, Chairman of the Executive Board / CEO, commented: “UBL has a proud history dating back more than a century as an influential shaper of the beer industry in India. It built its position as the undisputed market leader in India with a strong network of breweries across the country and a fantastic portfolio led by its iconic Kingfisher brand family, complemented more recently by a strong HEINEKEN international brand portfolio. We are honoured to build on this legacy and look forward to working with our colleagues at UBL to continue to win in the market, delight consumers and customers and unlock future growth.”

India offers an exciting long-term growth opportunity as per capita beer consumption is low at 2 litres per annum. Its growing population of nearly 1.4 billion people includes a strong emerging middle class, enabling further premiumisation. UBL will be a top HEINEKEN operating company and Kingfisher a top 5 global brand.

HEINEKEN expects the consolidation of UBL will have a small accretive effect on EPS (beia) and a dilutive effect on operating profit margin (beia).

-END-

Press enquiries                                        
Sarah Backhouse / Michael Fuchs
E-mail: pressoffice@heineken.com                        
Tel: +31-20-5239-355                                
                
Investor and analyst enquiries
Federico Castillo Martinez / Janine Ackermann / Robin Achten
E-mail: investors@heineken.com
Tel: +31-20-5239-590


About HEINEKEN:
HEINEKEN is the world's most international brewer. It is the leading developer and marketer of premium beer and cider brands. Led by the Heineken® brand, the Group has a portfolio of more than 300 international, regional, local and specialty beers and ciders. HEINEKEN is committed to innovation, long-term brand investment, disciplined sales execution and focused cost management. Through "Brewing a Better World", sustainability is embedded in the business. HEINEKEN has a well-balanced geographic footprint with leadership positions in both developed and developing markets. It employs more than 80,000 employees and operates breweries, malteries, cider plants and other production facilities in more than 70 countries. Heineken N.V. and Heineken Holding N.V. shares trade on the Euronext in Amsterdam. Prices for the ordinary shares may be accessed on Bloomberg under the symbols HEIA NA and HEIO NA and on Reuters under HEIN.AS and HEIO.AS. HEINEKEN has two sponsored level 1 American Depositary Receipt (ADR) programmes: Heineken N.V. (OTCQX: HEINY) and Heineken Holding N.V. (OTCQX: HKHHY). Most recent information is available on HEINEKEN’s website, and follow us on LinkedIn, Twitter and Instagram.

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Sales 2021 21 775 M 25 527 M 25 527 M
Net income 2021 1 774 M 2 079 M 2 079 M
Net Debt 2021 14 040 M 16 459 M 16 459 M
P/E ratio 2021 30,6x
Yield 2021 1,34%
Capitalization 51 955 M 60 880 M 60 907 M
EV / Sales 2021 3,03x
EV / Sales 2022 2,70x
Nbr of Employees 80 000
Free-Float 41,3%
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Mean consensus OUTPERFORM
Number of Analysts 24
Last Close Price 90,24 €
Average target price 104,30 €
Spread / Average Target 15,6%
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Rudolf Gijsbert van den Brink Chairman-Executive Board
Harold van den Broek Chief Financial Officer
R. Jean-Marc Sidney HuŰt Chairman-Supervisory Board
Ronald den Elzen Chief Technology & Digital Officer
V. C. O. B. J. Navarre Member-Supervisory Board
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