Heineken NV Swings to 1st Half Net Profit; Backs 2021 View
August 02 2021 - 1:34AM
Dow Jones News
By Ian Walker
Heineken NV on Monday reported a swing to net profit for the
first half and backed its full-year expectations.
The Dutch brewer said it expects earnings for the year to remain
below 2019. The rise in commodity costs are expected to start
affecting the business in the second half of the year and have a
material affect in 2022, it said.
Heineken made a net profit for the half year of 1.03 billion
euros ($1.22 billion) compared with a loss of EUR297 million in the
year-earlier period.
Beia net profit--one of the company's preferred metrics--rose to
EUR896 million compared with EUR227 million for the first half of
last year. Beia is before exceptional items and amortization of
acquisition-related intangible assets.
Net revenue for the period rose to EUR10.01 billion compared
with EUR9.24 billion for the first half of 2020.
The brewer said volume for the Heineken brand rose 20%
organically on year.
The board has declared an interim dividend of 28 European
cents.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
August 02, 2021 01:32 ET (05:32 GMT)
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