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 enquiries
Tim van der Zanden / Michael Fuchs
E-mail: pressoffice@heineken.com
Tel: +31-20-5239-355
Investor and analyst enquiries
Federico Castillo Martinez/ Janine Ackermann / Robin Achten
E-mail: investors@heineken.com
Tel: +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.
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