Heineken 1st Half Hurt Significantly by Pandemic; All Metrics Down
July 16 2020 - 3:04AM
Dow Jones News
By Ian Walker
Heineken NV on Thursday said its business was significantly hurt
by the coronavirus pandemic in the first half of the year with
revenue, volumes and profits all down.
The Dutch brewer added that it has a strong balance sheet,
undrawn committed credit facilities and is confident it can
"navigate the crisis while continuing to build a bright
future."
Revenue for the first half of the year fell 16% on an organic
basis, driven by a 13% fall in total volumes. Beer volumes fell 12%
organically, with the Americas, Africa, the Middle East and Eastern
Europe the most hit. However, Asia was the most resilient region,
driven by Vietnam.
Heineken--which owns the Sol, Birra Moretti and Tiger beer
brands--said operating profit fell 53% during the half year with
net profit down 76% on an adjusted basis.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
July 16, 2020 02:49 ET (06:49 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
Heineken Nv (QX) (USOTC:HEINY)
Historical Stock Chart
From Aug 2024 to Sep 2024
Heineken Nv (QX) (USOTC:HEINY)
Historical Stock Chart
From Sep 2023 to Sep 2024