Heineken N.V. : Another year of subdued net profit growth expected in 2024; TP cut to € 93
>EBIT growth in line with goals, but EPS growth 2-3% below expectations in 2023 - By posting 1.7% organic EBIT growth, Heineken met its goal of stable to mid-single-digit growth in 2023. Apart from Africa, Middle East and Eastern Europe, which fell short, the other three divisions reported in-line or slightly-better-than-expected operating profit in 2023. That said, due to higher than expected financial expenses, EPS came in 2-3% below both our forecast and consensus....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.
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