Amsterdam, 27 October 2010 - Heineken N.V. today announced its trading update for the third quarter of 2010. Compared with the same quarter in 2009:

Organically, EBIT (beia) grew mid-single digits driven by a strong performance in Africa and Asia and ongoing cost savings. EBIT (beia) grew significantly;

Volume of the Heineken brand in the international premium segment grew 2.2% to 6.9 million hectolitres;

Consolidated beer volume grew 24% to 43.8 million hectolitres, due primarily to the consolidation of FEMSA Cerveza. Organically, volume declined 2.2%;

Revenue grew 13%, due to the changes in consolidation scope. Organically, revenue was 2.1% lower;

Organic growth in net profit (beia) was slightly above 10%.

Revenue and results
In the quarter, revenue totalled €4,619 million (+13%). Organically, the effect of lower volume (-3.1%) was offset by better prices and an improved sales mix (+1%). Net changes in consolidation scope added €466 million to revenue whilst exchange rate changes added €152 million.

Organic EBIT (beia) growth benefited from selling price increases in the first half of 2010, volume growth in Asia and Africa and ongoing Total Cost Management (TCM) savings. Heineken's share of net profit of associates and joint ventures grew, albeit at a slightly lower rate than in the first six months. EBIT (beia) grew significantly, with net changes in the scope of the consolidation adding 14%. Currency fluctuations contributed €35 million to EBIT.

Exceptional costs of €49 million, mostly related to TCM and integration activities partially offset the exceptional book gains realised in the first half of 2010. Organically, interest costs decreased significantly due to strong net debt reduction. As forecast, the effective tax rate (beia) was higher than in the same quarter of 2009.

Net profit for the third quarter amounted to €520 million. Organic growth in net profit (beia) was slightly above 10%.

Changes in the consolidation scope

Changes affecting volume, revenue and results:
UBL in India included in group beer volume as of 1 January 2010;
Shift from export to local production by the joint venture in South Africa as of 1 January 2010;
Multi Bintang Indonesia and Grande Brasserie de Nouvelle Caledonie transferred to the APB joint venture as of 1 February 2010;
FEMSA Cerveza in Mexico and Brazil included as of 1 May 2010;
Waverley TBS in the UK deconsolidated as of 1 July 2010. Waverley reduced revenue by €135 million in the quarter, whilst the effect on EBIT was negligible.

Outlook
Heineken confirms its forecast as published on 25 August 2010 of an organic increase in net profit (beia) of at least low double digits for the full year 2010. Including FEMSA Cerveza, Heineken reiterates its estimates of an effective tax rate (beia) of 27-29% and an average interest rate of approximately 6% for 2010.