AMSTERDAM (dpa-AFX) - Dutch brewer Heineken NV (HKHHF.PK) reported Wednesday that its fiscal 2020 net loss was 204 million euros, compared to last year's profit of 2.17 billion euros.
Net profit (beia) decreased to 1.15 billion euros from 2.52 billion euros a year ago. Earnings per share (beia) was 2 euros, down from 4.38 euros last year.
Operating profit (beia) fell to 2.42 billion euros from 4.02 billion euros last year. Operating profit margin (beia) was 12.3 percent, down 455 basis points.
Revenue was 23.77 billion euros, a decline of 16.7 percent from prior year's 28.52 billion euros. Revenue (beia) decreased 11.3 percent organically.
Net revenue declined 17.7 percent to 19.72 billion euros. Net revenue (beia) declined 11.9 percent organically. The company recorded a 2.4 percent decrease in net revenue (beia) per hectolitre.
Consolidated beer volume declined 8.1 percent organically.
Further, the company said that for 2020, a total cash dividend of 0.70 euro per share, representing a decrease of 58.3 percent will be proposed to the Annual General Meeting on 22 April 2021. If approved, the full dividend will be paid on 6 May.
Looking ahead, the company projects fiscal 2021 revenue, operating profit and operating profit margin to stay below the level of 2019.
The company projects to restore operating profit margin (beia) to around 17 percent by 2023 and gear for operating leverage beyond.
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