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News Article | April 26, 2017
Site: www.beveragedaily.com

The company posted a net profit of $314m (€293m) for the quarter compared to $284m (€265m) in Q1 2016, representing a 0.6% increase. Organic consolidated beer volume declined 0.7% in Q1 2017 for the Americas, the company reported. Mexico was able to offset some of the declines in volume sales with mid-single digit growth driven by sales of Tecate, Tecate Light, and Heineken. The US, however, saw low single digit declines in its Tecate and Dos Equis brands. “In Americas, whilst Mexican volume was good this was more than offset by weaker volume in Brazil,” Heineken, CEO Jean-François van Boxmeer, said. Brazil experienced double-digit declines reflecting continued macroeconomic weakness and competition in the mainstream and economy segment, the company said. However, the bright spot in Brazil was the positive growth of its premium brand portfolio along with Amstel also delivering strong growth. Heineken entered into an agreement with Kirin Holdings Company Limited to acquire Brasil Kirin Holding S.A. in February 2017. At the time, Heineken was also reviewing its future route to market for its Brazilian operation. The decision could improve sales performance in the South American country moving forward, Heineken said. In light of the size and requirements of the proposed future combined portfolio, Heineken confirmed in its first quarter report that it intends to leverage Kirin's existing route to market with the Heineken portfolio in the future and that completion of the acquisition is expected by the first half of 2017. Continuing on a trend of increased beer volumes in Asia Pacific, Heineken reported a consolidated beer volume increase of 5.4% in the region for the quarter, compared to last year with Cambodia experiencing double-digit growth due to the additional production capacity added last year. “In Vietnam, earlier timing of the Tet new year (Vietnamese New Year) resulted as expected in a slower start to the year, and low single digit volume growth. The Tiger brand continues to drive growth,” the company said. Van Boxmeer said the company expects that Asia Pacific will continue to outperform other regions in its full-year 2017 outlook.


DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Studying the Global & Brazil's Beer Market 2016" report to their offering. "Studying the Global & Brazil's Beer Market 2016" highlights key dynamics of the global and China's beer market. The growing opportunity in the sector has been investigated. The initiatives and performance of key players, globally and in India, including Anheuser-Busch InBev, Heineken Holding, SABMiller plc, Kirin Holdings and Carlsberg Group has been examined. The report contains latest industry stakeholder's opinions. Beer is globally the third most popular drink after water and tea. Growing at a CAGR of 2.4%, it is projected that the global beer market will reach approximately USD 636 billion by 2020. In 2015, the global beer market was valued at USD 566.6 billion. While in 2014 the global beer market grew by 1%, it grew approximately by 2% in 2015. The low growth percentage is due to a slowdown in beer consumption by world's five largest beer markets, China, US, Russia, Germany and Brazil. In terms of brand value, globally, in 2016 Budweiser lead the market followed by Bud Light. Globally the emerging trend is that we see that standard beer is growing marginally, but it is the light beer and the low alcohol beer segment which is experiencing substantial growth. Around the world the attitude towards alcohol is changing, boosted by the rising health-consciousness and a desire to drink responsibly. Brazil is globally the third largest beer market. Brazil's beer consumption globally is higher than Germany and UK and just behind consumption in the United States and China. However, the long drawn recession the country has been experiencing has negatively affected production of beer which dropped to the level of 2010 in 2016. It is projected that the total value of retail sales in the Brazilian beer market will grow at a CARG 2.3% by 2020. The country currently has close to 300 craft breweries which forms just 1% of the country's beer market. For more information about this report visit http://www.researchandmarkets.com/research/325mpk/studying_the


Kanauchi O.,Kirin Holdings Company | Andoh A.,Shiga University of Medical Science | Mitsuyama K.,Kurume University
Journal of Agricultural and Food Chemistry | Year: 2013

The gastrointestinal tract harbors a tremendous number and variety of commensal microbiota. The intestinal mucosa simultaneously absorbs essential nutrients and protects against detrimental antigens or pathogenic microbiota as the first line of defense. Beneficial interactions between the host and microbiota are key requirements for host health. Although the gut microbiota has been previously studied in the context of inflammatory diseases, it has recently become clear that this microbial environment has a beneficial role during normal homeostasis, by modulating the immune system or bowel motor function. Recent studies revealed that microbiota, including their metabolites, modulate key signaling pathways involved in the inflammation of the mucosa or the neurotransmitter system in the gut-brain axis. The underlying molecular mechanisms of host-microbiota interactions are still unclear; however, manipulation of microbiota by probiotics or prebiotics is becoming increasingly recognized as an important therapeutic option, especially for the treatment of the dysfunction or inflammation of the intestinal tract. © 2013 American Chemical Society.


Tamakawa H.,KIRIN Holdings Co. | Ikushima S.,KIRIN Holdings Co. | Yoshida S.,KIRIN Holdings Co.
Journal of Bioscience and Bioengineering | Year: 2012

Efficient l-lactic acid production from xylose was achieved using a pyruvate decarboxylase-deficient Candida utilis strain expressing an l-lactate dehydrogenase, an NADH-preferring mutated xylose reductase (XR), a xylitol dehydrogenase and a xylulokinase. The recombinant strain showed 53% increased l-lactic acid production compared with the reference strain expressing native XR (NADPH-preferring). © 2011 The Society for Biotechnology, Japan.


Ichikawa S.,Kirin Holdings Co. | Miyake M.,Kirin Holdings Co. | Fujii R.,Kirin Holdings Co. | Konishi Y.,Kirin Holdings Co.
PLoS ONE | Year: 2012

It is well known that some strains of lactic acid bacteria (LAB) can induce IL-12 which plays an important role in modulating immune responses. However, the mechanisms by which LAB induce IL-12 production remain unclear. Here, we examine the role of toll-like receptors (TLR's) and reactive oxygen species (ROS) in IL-12 production by LAB stimulated peritoneal macrophages. Our results indicate that a TLR is not necessary for IL-12 induction by LAB, whilst the universal adaptor protein, MyD88, is essential. Specific strains of LAB induced ROS that correlated with both the frequency of phagocytosis and IL-12 production. Reduction in IL-12 production by NADPH oxidase inhibitors or ROS scavengers demonstrates the crucial role of ROS in IL-12 induction. Interestingly, deficiency of TLR2, 4, 9 or MyD88 did not affect the phagocytosis of LAB strain KW3110, a potent IL-12 inducer, and ROS production was significantly reduced only in MyD88 deficient macrophages. These results suggest the existence of TLR-MyD88 independent LAB recognition and MyD88 related ROS induction mechanisms. We show here the importance of ROS for IL-12 induction and provide new insights into IL-12 induction by LAB. © 2012 Ichikawa et al.


Uchiyama S.,Kirin Holdings Co. | Taniguchi Y.,Kirin Holdings Co. | Saka A.,Kirin Holdings Co. | Yoshida A.,Kirin Beverage Company | Yajima H.,Kirin Holdings Co.
Nutrition | Year: 2011

Objective: The effects of certain tea components on the prevention of obesity in humans have recently been reported, although it is still unclear whether black tea consumption is beneficial. We obtained black tea extract (BTPE) consisting of polyphenols specific to black tea, and from it, prepared a polymerized polyphenol fraction (BTP). The effectiveness of oral administration of the BTPE was examined in in vitro and in vivo experiments. Methods: Effects of BTPE or BTP on pancreatic lipase activity were investigated in vitro. Male Wistar rats were administered an oral lipid emulsion containing BTPE at a concentration of 500 or 1000 mg/kg body weight and sequential plasma lipid levels were measured. Female C57BL/6N mice were fed a standard or high-fat diet supplemented with 1% or 5% (w/w) BTPE for 8 wk and changes in body weight were examined. Results: BTP and BTPE inhibited pancreatic lipase activity with an IC50 of 15.5 and 36.4 μg/mL in vitro, respectively. BTPE suppressed increases in rat plasma triglyceride levels in a dose-dependent manner after oral administration of a lipid emulsion. Furthermore, administration of the 5% BTPE suppressed increases in body weight (P < 0.05), parametrial adipose tissue mass, and liver lipid content (reduced to 56.9% and 81.7% of control mice, respectively, P < 0.05) in mice fed a high-fat diet. Conclusion: The BTPE may prevent diet-induced obesity by inhibiting intestinal lipid absorption. It was suggested that the major active component in the BTPE was BTP. © 2011 Elsevier Inc.


Tamakawa H.,KIRIN Holdings Co. | Ikushima S.,KIRIN Holdings Co. | Yoshida S.,KIRIN Holdings Co.
Bioscience, Biotechnology and Biochemistry | Year: 2011

The industrial yeast Candida utilis can grow on media containing xylose as sole carbon source, but cannot ferment it to ethanol. The deficiency might be due to the low activity of NADPH-preferring xylose reductase (XR) and NAD +-dependent xylitol dehydogenase (XDH), which convert xylose to xylulose, because C. utilis can ferment xylulose. We introduced multiple site-directed mutations in the coenzyme binding sites of XR and XDH derived from the xylose-fermenting yeast Candida shehatae to alter their coenzyme specificities. Several combinations of recombinant and native XRs and XDHs were tested. Highest productivity was observed in a strain expressing CsheXR K275R/N277D (NADHpreferring) and native CsheXDH (NAD +-dependent), which produced 17.4 g/L of ethanol from 50 g/L of xylose in 20 h. Analysis of the genes responsible for ethanol production from the xylose capacity of C. utilis indicated that the introduction of CsheXDH was essential, while overexpression of CsheXR K275R/N277D improved efficiency of ethanol production.


News Article | February 20, 2017
Site: news.europawire.eu

AMSTERDAM, 20-Feb-2017 — /EuropaWire/ — Heineken N.V. (“HEINEKEN”) announces today that it has entered into an agreement with Kirin Holdings Company, Limited (“Kirin”) to acquire Brasil Kirin Holding S.A. (“Brasil Kirin”), one of the largest beer and soft drinks producers in Brazil. The transaction will transform HEINEKEN’s existing business across the country by extending its footprint, increasing scale and further strengthening its brand portfolio. On closing, HEINEKEN will become the second largest beer company in Brazil, with a stronger commercial platform from which to capture future profitable growth in an exciting beer market. Market background Brazil is the fifth largest country in the world with over 200 million people. Beer volume in 2015 was 139 million hectolitres, making it the third largest market globally. Whilst the macroeconomic environment has been challenging over the last few years, the longer term fundamentals of the Brazilian beer market are highly attractive supported by a growing population and a positive GDP outlook. In addition, the premium segment of the beer market, which has outperformed the broader beer market in recent years, has a relatively low share compared to many other markets, providing a compelling and attractive opportunity for future growth. About Brasil Kirin Brasil Kirin is a large beer producer in Brazil, operating 12 production facilities with its own distribution network. It has a particularly strong presence in the North and North East, where HEINEKEN currently has less exposure. It owns an extensive portfolio of beer brands and its share of the Brazilian beer market in 2015 was c.9%1. The portfolio includes Schin, one of Brazil’s largest brands covering the mainstream and value segments, as well as the Devassa brand. Furthermore, it owns the speciality brands Baden Baden and Eisenbahn, which will complement HEINEKEN’s existing premium portfolio. Brasil Kirin also has a soft drinks business comprised of carbonated drinks, bottled water and other beverages. The soft drinks portfolio, which has around 2%1 market share, includes the iconic Itubaína brand. About HEINEKEN Brazil HEINEKEN expanded its footprint in Brazil through the acquisition of the beer operations of Fomento Económico Mexicano, S.A.B. de C.V (“FEMSA”) in 2010. Since then, HEINEKEN has increased its market share to c.10%, led by Heineken® in the outperforming premium segment. At the same time, HEINEKEN has continued to build scale with the Kaiser and Bavaria brands, and has recently seen strong success with the roll out of Amstel in the mainstream segment. HEINEKEN currently operates 5 breweries in Brazil and has a strategic distribution partnership with the Coca-Cola bottlers. Compelling strategic rationale HEINEKEN believes that the transaction delivers compelling strategic benefits for its Brazilian business. In particular it: HEINEKEN Brazil is in the process of reviewing its future route to market and will provide further detail when appropriate. Financial highlights The total consideration to be paid to Kirin for the shares is EUR 664 million, corresponding to an estimated enterprise value of EUR 1,025 million for HEINEKEN. Upon completion of the transaction Brasil Kirin will be consolidated with HEINEKEN. Brasil Kirin today reported FY results for the year ended 31 December 2016 with revenue of BRL 3,706 million (2015: BRL 3,698 million) and an operating loss before amortisation of goodwill, etc. of BRL 262 million (2015: BRL 322 million). HEINEKEN expects to deliver significant cost synergies from the acquisition through production efficiencies, including logistics and brewery optimisation, and through optimising selling, general and administrative expenses. This transaction is expected to be dilutive to HEINEKEN’s margin in 2017. We will provide more detailed transaction guidance including the necessary accounting adjustments when appropriate. Completion of the acquisition is subject to customary regulatory approvals and is expected in the first half of 2017. Commenting on the transaction, Jean-Francois van Boxmeer, Chairman & CEO of HEINEKEN, said: “This transaction marks a step-change in scale in an exciting beer market, building on our success to date in the premium segment and strengthening our platform for future growth. It reiterates our commitment to the Brazilian market and confidence in our ability to generate attractive returns over the long-term across all segments of the market. I look forward to welcoming our new colleagues from Brasil Kirin into HEINEKEN and working with them to take the combined business forward.” Editorial information: 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 powerful portfolio of more than 250 international, regional, local and specialty beers and ciders. We are 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 and delivers value for all stakeholders. HEINEKEN has a well-balanced geographic footprint with leadership positions in both developed and developing markets. We employ approximately 73,000 people and operate 167 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: www.theHEINEKENcompany.com and follow us via @HEINEKENCorp. Market Abuse Regulation This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.


News Article | February 13, 2017
Site: globenewswire.com

Amsterdam, 13 February 2017 - Heineken N.V. ("HEINEKEN") announces today that it has entered into an agreement with Kirin Holdings Company, Limited ("Kirin") to acquire Brasil Kirin Holding S.A. ("Brasil Kirin"), one of the largest beer and soft drinks producers in Brazil. The transaction will transform HEINEKEN's existing business across the country by extending its footprint, increasing scale and further strengthening its brand portfolio. On closing, HEINEKEN will become the second largest beer company in Brazil, with a stronger commercial platform from which to capture future profitable growth in an exciting beer market. Market background Brazil is the fifth largest country in the world with over 200 million people. Beer volume in 2015[1] was 139 million hectolitres, making it the third largest market globally. Whilst the macroeconomic environment has been challenging over the last few years, the longer term fundamentals of the Brazilian beer market are highly attractive supported by a growing population and a positive GDP outlook. In addition, the premium segment of the beer market, which has outperformed the broader beer market in recent years, has a relatively low share compared to many other markets, providing a compelling and attractive opportunity for future growth. About Brasil Kirin Brasil Kirin is a large beer producer in Brazil, operating 12 production facilities with its own distribution network. It has a particularly strong presence in the North and North East, where HEINEKEN currently has less exposure. It owns an extensive portfolio of beer brands and its share of the Brazilian beer market in 2015 was c.9%1. The portfolio includes Schin, one of Brazil's largest brands covering the mainstream and value segments, as well as the Devassa brand. Furthermore, it owns the speciality brands Baden Baden and Eisenbahn, which will complement HEINEKEN's existing premium portfolio. Brasil Kirin also has a soft drinks business comprised of carbonated drinks, bottled water and other beverages. The soft drinks portfolio, which has around 2%1 market share, includes the iconic Itubaína brand. About HEINEKEN Brazil HEINEKEN expanded its footprint in Brazil through the acquisition of the beer operations of Fomento Económico Mexicano, S.A.B. de C.V ("FEMSA") in 2010. Since then, HEINEKEN has increased its market share to c.10%[2], led by Heineken® in the outperforming premium segment. At the same time, HEINEKEN has continued to build scale with the Kaiser and Bavaria brands, and has recently seen strong success with the roll out of Amstel in the mainstream segment. HEINEKEN currently operates 5 breweries in Brazil and has a strategic distribution partnership with the Coca-Cola bottlers. Compelling strategic rationale HEINEKEN believes that the transaction delivers compelling strategic benefits for its Brazilian business. In particular it: HEINEKEN Brazil is in the process of reviewing its future route to market and will provide further detail when appropriate. Financial highlights The total consideration to be paid to Kirin for the shares is EUR 664 million, corresponding to an estimated enterprise value of EUR 1,025 million for HEINEKEN. Upon completion of the transaction Brasil Kirin will be consolidated with HEINEKEN. Brasil Kirin today reported FY results for the year ended 31 December 2016 with revenue of BRL 3,706 million (2015: BRL 3,698 million) and an operating loss before amortisation of goodwill, etc. of BRL 262 million (2015: BRL 322 million). HEINEKEN expects to deliver significant cost synergies from the acquisition through production efficiencies, including logistics and brewery optimisation, and through optimising selling, general and administrative expenses. This transaction is expected to be dilutive to HEINEKEN's margin in 2017. We will provide more detailed transaction guidance including the necessary accounting adjustments when appropriate. Completion of the acquisition is subject to customary regulatory approvals and is expected in the first half of 2017. Commenting on the transaction, Jean-Francois van Boxmeer, Chairman & CEO of HEINEKEN, said: "This transaction marks a step-change in scale in an exciting beer market, building on our success to date in the premium segment and strengthening our platform for future growth. It reiterates our commitment to the Brazilian market and confidence in our ability to generate attractive returns over the long-term across all segments of the market. I look forward to welcoming our new colleagues from Brasil Kirin into HEINEKEN and working with them to take the combined business forward." Editorial information: 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 powerful portfolio of more than 250 international, regional, local and specialty beers and ciders. We are 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 and delivers value for all stakeholders. HEINEKEN has a well-balanced geographic footprint with leadership positions in both developed and developing markets. We employ approximately 73,000 people and operate 167 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: www.theHEINEKENcompany.com and follow us via @HEINEKENCorp. Market Abuse Regulation This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.


News Article | February 15, 2017
Site: globenewswire.com

Jean-François van Boxmeer, CEO, Chairman of the Executive Board, commented: "We delivered strong results in 2016, with clear outperformance of our premium brand portfolio led by Heineken®, and sustained momentum from our innovation agenda. Our unique diversified footprint was again a competitive advantage, enabling us to deliver more than 50 basis points margin expansion, despite more challenging economic conditions in some developing markets and significant currency pressures. Performance in key European markets was good and results in Vietnam and Mexico were strong. In Africa, Middle East & Eastern Europe market conditions remained tough, most notably in Nigeria, DRC and Russia. Excluding major unforeseen macro economic and political developments as well as the impact of the proposed acquisitions in Brazil and in the UK, we expect continued margin expansion in 2017 in line with our previous guidance." 1 Excluding an accounting adjustment in the UK in 2H16 with no impact on operating profit, HEINEKEN organic revenue growth would have been +4.4%, organic revenue per hl +1.7% and operating margin (beia) +61bps. For the impact on Europe please refer to page 11.   2 Consolidated figures are used throughout this report, unless otherwise stated; please refer to the Glossary section for an explanation of non-GAAP measures and other terms used throughout this report. 3 Includes acquisitions and excludes disposals on a 12 month pro-forma basis. After a strong first half and in line with our guidance, operating profit (beia) growth slowed in the second half reflecting tougher comparatives, increased currency headwinds as well as further challenging economic conditions in some developing markets. In the full year, strong performance in Americas, Europe and Asia Pacific more than offset weaker performance in Africa, Middle East & Eastern Europe where both the difficult economic backdrop and currency pressure adversely impacted results. Revenue per hectolitre improved organically, with a positive contribution from both price and mix. HEINEKEN continues to invest in key developing markets and in 2016 entered new countries including Ivory Coast and the Philippines, and expanded production capacity in China, Vietnam, Ethiopia and Cambodia. Revenue increased 4.8% organically, with a 2.6% increase in total volume and a 2.2% increase in revenue per hectolitre. In 2016 the underlying price mix impact was 1.7%. In the second half revenue increased 5.0% (1H16: 4.7%), with volume growth of 1.5% (1H16: 3.8%), revenue per hectolitre up 3.4% (1H16: 0.8%) and underlying price mix impact of 2.6%. Consolidated beer volume grew 3.0% organically in 2016, with 4.1% growth in the first half and 2.1% growth in the second half. Beer volume in the fourth quarter was up 2.2%, much in line with 2% volume growth seen in the third quarter. Heineken® volume in the premium segment grew 3.7%, with positive volume performance across all regions. Volume grew double digit in Brazil, South Africa, Mexico, the UK and Romania. Brand growth was also strong in France, China, Italy, Spain and Taiwan. These results more than offset weaker volume in Russia, the US, Thailand and Greece. Heineken® continued to benefit from global platforms including UEFA Champions League, the Cities, Product Stories and Music campaigns. In September 2016 HEINEKEN started a new global partnership with Formula 1® which will allow us to reach new consumers. Additionally new innovations included the 'wild lager' beers H41 and H71, launched in a selected number of European markets. Heineken® Light was launched in Ireland and New Zealand, piloted in Greece and Switzerland and introduced in Australia as Heineken® 3. The international brand portfolio, which includes brands complementary to Heineken® and with high potential to travel across geographies, outperformed. Volume was up double digit for Affligem, Sol Premium, Lagunitas, Red Stripe, Tecate and Tiger brands. Desperados and Krušovice volume grew high single digit and Amstel mid single digit. Cider volume increased mid single digit, with double digit volume growth in the first half and single digit volume growth in the second half. Strongbow, our international cider brand continued to outperform. In the UK, the home base of cider, we continued to gain market share driven by the ongoing success of Strongbow Dark Fruit, Strongbow Cloudy Apple and Old Mout. Outside the UK, cider delivered double digit volume growth. During the year we introduced Orchard Thieves in five markets. In Ireland Orchard Thieves continued to outperform the market. In Romania, Czech Republic and Poland there was also good volume growth. In Africa, Middle East & Eastern Europe, South Africa and Russia saw positive cider performance. Mexico was the main contributor to cider growth in the Americas. In Asia Pacific, Strongbow which is now available in five markets, showed encouraging early signs. Innovation continued to positively contribute to results, generating €2.2 billion in revenue with an implied innovation rate of 10.6% (2015: 9.2%). There were a number of launches in 2016 in low and no alcohol, with Amstel 0.0% and Cruzcampo 0.0% in Spain, Zywiec alcohol free in Poland and Bintang 0.0% Maxx in Indonesia. In craft and variety Mort Subite, Birra Moretti Regionali, and Zywiec variants all continued to excite the consumers and drive volume. We believe business growth and sustainability go hand in hand. This is why our sustainability agenda, Brewing a Better World, is embedded in our business strategy. In 2016 HEINEKEN continued to make significant progress. Highlights included decreasing our water consumption to 3.6 hl/hl from 3.7 hl/hl in the previous year resulting in 28% decline since 2008, the baseline year for our 2020 commitments. For breweries in water scarce areas we have already reached our 2020 target of 3.3 hl/hl. We also reduced our CO emissions to 6.5 kg CO e/hl down from 6.7 kg CO e/hl in 2015 (representing a 37% decline since 2008). We continued to advocate responsible consumption by investing in our 'When you drive, never drink' campaign through the new Formula 1® global platform, and the'Moderate Drinkers Wanted' campaign. Our safety performance also improved significantly. HEINEKEN will publish its first combined financial and sustainability annual report on 22 February 2017. Exceptionals included an asset impairment in the Democratic Republic of Congo (DRC) of €286 million, with €233 million in the first half and an additional €53 million in the second half of the year. Net profit after exceptionals was €1,540 million (2015: €1,892 million). In 2015 net profit included an exceptional gain of €379 million from the sale of EMPAQUE in Mexico. The Heineken N.V. dividend policy is to pay out a ratio of 30% to 40% of full year net profit (beia). For 2016, payment of a total cash dividend of €1.34 per share (2015: €1.30) will be proposed to the Annual General Meeting. This implies a 36% payout ratio, in line with the payout ratio in 2015. If approved, a final dividend of €0.82 per share will be paid on 3 May 2017, as an interim dividend of €0.52 per share was paid on 11 August 2016. The payment will be subject to a 15% Dutch withholding tax. The ex-final dividend date for Heineken N.V. shares will be 24 April 2017. Using spot rates as at 9 February 2017 for the remainder of this year, the calculated negative currency translational impact would be approximately €75 million at consolidated operating profit (beia), and €30 million at net profit (beia). Foreign exchange markets remain very volatile. On 13 February 2017 HEINEKEN announced that it had entered into an agreement with Kirin Holdings Company, Limited ("Kirin") to acquire Brasil Kirin Holding S.A. ("Brasil Kirin"), one of the largest beer and soft drinks producers in Brazil. The transaction will transform HEINEKEN's existing business across the country by extending its footprint, increasing scale and further strengthening its brand portfolio. On closing, HEINEKEN will become the second largest beer company in Brazil, with a stronger commercial platform from which to capture future profitable growth in an exciting beer market. Further details can be found in the HEINEKEN N.V. release dated 13 February 2017. On 15 December 2016 HEINEKEN announced that following Vine Acquisitions Limited's announcement of a recommended cash offer for Punch Taverns plc, HEINEKEN through HEINEKEN UK had agreed a back-to-back deal with Vine Acquisitions to acquire Punch Securitisation A ('Punch A'), comprising approximately 1,900 pubs across the UK. On 10 February 2017 Punch Shareholders voted in favour of the Scheme at the Court Meeting and that the special resolution proposed at the General Meeting was passed. The Acquisition remains subject to the satisfaction or (where capable of being waived) waiver of the other Conditions set out in the Scheme Document, including the Court sanctioning the Scheme at the Court Hearing. Subject to being approved by the relevant regulatory authorities, the Acquisition is expected to become effective by the end of the first half of 2017. Further detail can be found in the HEINEKEN N.V. release dated 15 December 2016. Messrs. Maarten Das, Christophe Navarre and Henk Scheffers will resign by rotation from the Supervisory Board at the Annual General Meeting (AGM) on 20 April 2017. Messrs. Das and Navarre are eligible for re-appointment for a period of four years and a non-binding nomination for their re-appointment will be submitted to the AGM. Mr. Scheffers has informed the Supervisory Board that he will not seek a further term as member of the Supervisory Board. The Supervisory Board is grateful for Mr. Scheffers' commitment over the past four years and for his contributions to the Supervisory Board and as Chairman of the Audit Committee. HEINEKEN will host an analyst and investor conference call in relation to its 2016 FY results today at 10:00 CET/ 9:00 GMT. The call will be audio cast live via the company's website: www.theheinekencompany.com/investors/webcasts. An audio replay service will also be made available after the conference call at the above web address. Analysts and investors can dial-in using the following telephone numbers: Editorial information: 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 powerful portfolio of more than 250 international, regional, local and specialty beers and ciders. We are 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 and delivers value for all stakeholders. HEINEKEN has a well-balanced geographic footprint with leadership positions in both developed and developing markets. We employ over 73,000 employees and operate more than 165 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: www.theHEINEKENcompany.com and follow us on Twitter via @HEINEKENCorp. Market Abuse Regulation This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation. Disclaimer: This press release contains forward-looking statements with regard to the financial position and results of HEINEKEN's activities. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond HEINEKEN's ability to control or estimate precisely, such as future market and economic conditions, the behaviour of other market participants, changes in consumer preferences, the ability to successfully integrate acquired businesses and achieve anticipated synergies, costs of raw materials, interest-rate and exchange-rate fluctuations, changes in tax rates, changes in law, change in pension costs, the actions of government regulators and weather conditions. These and other risk factors are detailed in HEINEKEN's publicly filed annual reports. You are cautioned not to place undue reliance on these forward-looking statements, which speak only of the date of this press release. HEINEKEN does not undertake any obligation to update these forward-looking statements contained in this press release. Market share estimates contained in this press release are based on outside sources, such as specialised research institutes, in combination with management estimates.

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