Dutch brewer Heineken NV (HKHHF.PK) reported Wednesday that its fiscal 2021 net profit on IFRS basis was 3.32 billion euros or 5.77 euros per share, compared to loss of 204 million euros last year.
Net profit (beia) grew to 2.04 billion euros from last year’s 1.15 billion euros. Net profit (beia) grew 80.2 percent organically. Earnings per share (beia) was 3.54 euros, compared to 2.00 euros a year ago.
Operating profit on IFRS basis surged 476.2 percent to 4.48 billion euros. Operating profit (beia) increased 43.8 percent organically to 3.42 billion euros. Operating margin improved 331 basis points to 15.6 percent.
Revenue was 26.58 billion euros, 11.8 percent higher than last year’s 23.77 billion euros. Revenue grew 11.4 percent organically.
Net revenue increased 11.3 percent to 21.94 billion euros. Net revenue (beia) organic growth was 12.2 percent.
Beer volume grew 4.6 percent organically for the full year. In the fourth quarter, beer volume grew 6.2 percent
Further, the company noted that for 2021, a total cash dividend of 1.24 per share euros, representing an increase of 77.1 percent, will be proposed to the Annual General Meeting on April 21. If approved, a final dividend of 0.96 euro per share will be paid on May 3.
Looking ahead, the company expects a stable to modest sequential improvement in operating profit margin (beia) in 2022.
The company said, “Whilst continuing to target 17 percent operating margin (beia) in 2023 and operating leverage beyond, there is increased uncertainty given current and evolving economic and input cost circumstances. Therefore, we will update the 2023 guidance later in the year.”
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