Heineken warns of ongoing Covid-19 impacts in 2022
Heineken
€68.32
08:00 09/09/22
Dutch brewing company Heineken warned on Wednesday that the Covid-19 pandemic would continue to weigh on revenues in 2022, with impacts stemming from inflation and supply chain bottlenecks being particularly significant.
AEX Index
875.44
08:00 09/09/22
Heineken posted stronger than expected earnings, with operating profits rising 43.8% on a like-for-like basis to €3.41bn, above guidance of €3.30bn as it sold 4.6% more beer year-on-year in 2021, with improved sales in all regions except Asia and price increases and a pivot to pricier beers driving a 12.2% jump in net revenues.
However, while Heineken, which previously said its 2021 results would be below 2019's pre-pandemic comparative performance, claimed it was still aiming for an operating profit margin of 17% in 2023, the firm cautioned that there was "increased uncertainty" given the economic environment and rising input costs.
Heineken also highlighted it had now achieved €1.3bn of an overall €2.0bn savings plan that involves the curing of 8,000 jobs.
As of 1055 GMT, Heineken shares were up 2.25% at €97.44 each.