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    HEIO   NL0000008977

HEINEKEN HOLDING N.V.

(HEIO)
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Heineken N : Holding Won't Pay 1st Half Dividend; Swung to Net Loss

08/03/2020 | 01:42am EDT

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

 

Stocks mentioned in the article
ChangeLast1st jan.
HEINEKEN HOLDING N.V. 0.65% 77.5 Real-time Quote.-0.06%
HEINEKEN N.V. -0.04% 91.76 Real-time Quote.0.64%
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Analyst Recommendations on HEINEKEN HOLDING N.V.
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Financials
Sales 2021 21 594 M 25 048 M 25 048 M
Net income 2021 1 760 M 2 041 M 2 041 M
Net Debt 2021 13 901 M 16 125 M 16 125 M
P/E ratio 2021 25,4x
Yield 2021 1,37%
Capitalization 22 322 M 25 896 M 25 894 M
EV / Sales 2021 1,68x
EV / Sales 2022 1,51x
Nbr of Employees 80 000
Free-Float 35,1%
Chart HEINEKEN HOLDING N.V.
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Heineken Holding N.V. Technical Analysis Chart | HEIO | NL0000008977 | MarketScreener
Technical analysis trends HEINEKEN HOLDING N.V.
Short TermMid-TermLong Term
TrendsNeutralBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 3
Last Close Price 77,50 €
Average target price 92,17 €
Spread / Average Target 18,9%
EPS Revisions
Managers and Directors
Jean-Franšois M. L. van Boxmeer Chief Executive Officer & Non-Executive Director
Laurence Debroux Chief Financial Officer
Maarten Das Non-Executive Chairman
Ronald den Elzen Chief Digital & Technology Officer
Annemiek M. Fentener van Vlissingen Independent Non-Executive Director
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