AMSTERDAM (dpa-AFX) - Heineken Holding N.V. (HKHHY.PK) reported that its net profit for the first half of 2023 was 589 million euros, a decline of 8.6% from the prior year. Net profit (beia) declined 11.6% organically. Earnings per share for the period were 2.04 euros down 7.3% from the prior year.
But revenue for the first half of 2023 was 17.44 billion euros up from 16.40 billion euros in the previous year. Net revenue (beia) increased 6.6% organically; a combination of a 5.4% decline in total consolidated volume and a 12.7% increase in net revenue (beia) per hectolitre.
Beer volume for the first half of 2023 decreased 5.6% organically versus last year. The cumulative effect of pricing actions taken and a challenging economic backdrop led to a 7.6% organic decline in the second quarter.
In the second half of 2023, Heineken expects significantly improved operating profit (beia) growth inclusive of ower pressure from inflation in input costs, transport and energy & water, from mid-teens in the first-half to low-teens in the second-half on a per hectolitre basis.
Overall, Heineken's updated expectation for the full year of 2023 is stable to a mid-single-digit operating profit (beia) organic growth.
The company said it will pay an interim dividend of 0.69 euros per share on 10 August 2023 compared to 0.50 euros per share paid last year.
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