Heineken Holding Won't Pay 1st Half Dividend; Swung to Net Loss
03 Agosto 2020 - 7:56AM
Dow Jones News
By Ian Walker
Heineken Holding NV said Monday that it won't pay an interim
dividend as it reported a swing to net loss, as revenue and volumes
fell due to the impact of the coronavirus pandemic.
The Dutch brewer said it won't make any structural layoffs this
year due to the pandemic.
Net loss for the half year ended June 30 was 297 million euros
($349.9 million) compared with a profit EUR936 million for the
first half of 2019 and analysts' forecasts of EUR137 million
profit, taken from FactSet and based on one analyst's
forecasts.
Adjusted operating profit--one of the company's preferred
metrics that strips out exceptional and other one-off items--fell
53% organically to EUR827 million, from EUR1.78 billion. Heineken
said on July 16 that adjusted operating profit was expected to fall
53% due to a hit on volumes from the coronavirus pandemic.
Revenue for the half year was EUR9.24 billion compared with
EUR11.44 billion, a fall of 16% on an organic basis and in line
with July's forecast for a 16% fall.
The company said that it is well prepared to meeting its
financial commitments but as a measure of prudence won't pay an
interim dividend this period.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
August 03, 2020 01:41 ET (05:41 GMT)
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