22 th of April. Heineken reported the trading update over the first quarter. Organic revenue declined 1%. Organic revenue growth 2008: 7.4%. 

• a return to a 7% annual revenue growth rate by 2013 (is also the perpetual growth rate)
• a step up in margins as of 2009 because of a decrease in impairments (exceptionals) 
• (decreasing) market risk premium important regarding further upward potential

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the author has no position in this stock at the moment of publishing