Heineken Holding N.V. withdraws all guidance for 2020 due to Covid-19
08 Abril 2020 - 3:01AM
Heineken Holding N.V. withdraws all guidance for 2020 due to
Covid-19
Amsterdam, 8 April 2020 – Heineken Holding N.V. (EURONEXT: HEIO;
OTCQX: HKHHY) today issued the following statement.
With the spread of the Covid-19 crisis to all geographies,
multiple countries have taken far-reaching containment measures
such as restrictions of movement for populations and outlet
closures, sometimes combined with the mandatory lockdown of
production facilities. This constitutes a major negative
macro-economic development and as such it is having a significant
impact on HEINEKEN’s markets and on its business in 2020.
In these very trying times, HEINEKEN’s priority is to ensure the
health and welfare of its employees, customers, and business
partners. All teams are mobilised to enable HEINEKEN to face this
unprecedented crisis in the best possible way, and to protect the
long-term potential of its brands and businesses.
For the first quarter of 2020, HEINEKEN expects to announce a
total consolidated volume decrease of around -4% organically with
beer volume around -2%. The impact is expected to worsen in the
second quarter. HEINEKEN has entered the crisis with a strong
balance sheet as well as undrawn committed credit facilities and
Heineken N.V. has successfully secured additional financing on the
debt capital market in recent weeks.
Heineken Holding N.V. engages in no activities other than its
participating interest in Heineken N.V. and the management or
supervision of and provision of services to that company.
HEINEKEN will provide more information on its mitigating actions
in its 2020 first quarter trading update on 22 April. In any case,
the lack of visibility on the end date of the Covid-19 pandemic and
the duration of its impact on the economy leads HEINEKEN to
withdraw all guidance for 2020.
-ENDS-
Media Heineken Holding
N.V.
Kees Jongsma Tel: +31 6 54 79 82 53 Email: cjongsma@spj.nl
Press enquiriesTim van der Zanden / Michael
Fuchs
E-mail:
pressoffice@heineken.com
Tel:
+31-20-5239-355
Investor and
analyst enquiriesFederico Castillo Martinez/ Janine
Ackermann / Robin AchtenE-mail: investors@heineken.comTel:
+31-20-5239-590
Editorial information:Heineken Holding N.V.
engages in no activities other than its participating interest in
Heineken N.V. and the management or supervision of and provision of
services to that company.HEINEKEN is the world's most international
brewer. It is the leading developer and marketer of premium beer
and cider brands. Led by the Heineken® brand, the Group has a
portfolio of more than 300 international, regional, local and
specialty beers and ciders. HEINEKEN is committed to innovation,
long-term brand investment, disciplined sales execution and focused
cost management. Through "Brewing a Better World", sustainability
is embedded in the business. HEINEKEN has a well-balanced
geographic footprint with leadership positions in both developed
and developing markets.HEINEKEN employs over 85,000 employees and
operates breweries, malteries, cider plants and other production
facilities in more than 70 countries. Heineken Holding N.V. and
Heineken N.V. shares trade on the Euronext in Amsterdam. Prices for
the ordinary shares may be accessed on Bloomberg under the symbols
HEIO NA and HEIA NA and on Reuters under HEIO.AS and HEIN.AS.
HEINEKEN has two sponsored level 1 American Depositary Receipt
(ADR) programmes: Heineken Holding N.V. (OTCQX: HKHHY) and Heineken
N.V. (OTCQX: HEINY). Most recent information is available on the
websites: www.HeinekenHolding.com and www.theHEINEKENcompany.com
and follow HEINEKEN on Twitter via @HEINEKENCorp.
Market Abuse Regulation:This press release may
contain price-sensitive information within the meaning of Article
7(1) of the EU Market Abuse Regulation.
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