Heineken Holding N.V

PM Capital

PM Capital

Heineken Holding N.V. was up 10% in August following strong operational performance. Volumes grew 3% over the quarter, pricing was robust at 1.8% and the company was able to cut significant costs from their operations. This resulted in EBIT growth of 13%, which was ahead of market estimates. The growth in margins was pleasing, and the subsequent announcement of a targeted 40 basis points growth in margins per annum over the coming years, assisted in bolstering the stock price.


PM Capital
PM Capital

At PM Capital we are not afraid to be different, we search the world for undervalued stocks, we avoid the trap of “group think” and prioritise company valuation over all other aspects. Founded in 1998, PM Capital is part of the Regal Partners...

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