Heineken N.V. withdraws all guidance for 2020 due to Covid-19
08 Abril 2020 - 03:00AM
Heineken N.V. withdraws all guidance for 2020 due to Covid-19
Amsterdam, 8 April 2020 – Heineken N.V. (EURONEXT: HEIA; OTCQX:
HEINY) 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 HEINEKEN teams are mobilised to enable the company 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
has successfully secured additional financing on the debt capital
market in recent weeks. 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-
Press
enquiries
Tim 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 informationHEINEKEN 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. We are 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.We employ over 85,000
employees and operate breweries, malteries, cider plants and other
production facilities in more than 70 countries. Heineken N.V. and
Heineken Holding N.V. shares trade on the Euronext in Amsterdam.
Prices for the ordinary shares may be accessed on Bloomberg under
the symbols HEIA NA and HEIO NA and on Reuters under HEIN.AS and
HEIO.AS. HEINEKEN has two sponsored level 1 American Depositary
Receipt (ADR) programmes: Heineken N.V.(OTCQX: HEINY) and Heineken
Holding N.V. (OTCQX: HKHHY). Most recent information is available
on HEINEKEN's website: www.theHEINEKENcompany.com and follow us on
Twitter via @HEINEKENCorp.
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