AMSTERDAM (dpa-AFX) - Heineken N.V. (HKHHF.PK), a Dutch brewer, reported that its net loss attributable to shareholders of the company for the six-month period ended 30 June 2024 was 95 million euros or 0.17 euros per share compared to profit of 1.16 billion euros or 2.04 euros per share in the prior year, mainly driven by the impairment of the investment in CR Beer.
Net profit (beia) increased by 4.4% organically to 1.20 billion euros. The growth in operating profit (beia) was partially offset by higher net financing and tax expenses.
Operating profit for the period decreased by 4.3% to 1.54 billion euros from the prior year due to higher exceptional net expenses, mainly brewery closures and accounting for hyperinflation.
But revenue for the period increased by 2.2% to 17.82 billion euros from the prior year. Revenue (beia) increased 5.9% organically to 17.81 billion euros from the previous year.
The interim dividend of 0.69 euros per share (same as in 2023) is scheduled for payment on 8 August 2024. Shares will go ex-dividend on 31 July 2024.
The company said it has a clear path forward with its cost-saving initiatives and is confident that it will achieve its target of approximately 500 million euros for 2024. This exceeds its medium-term commitment of 400 million euros annually.
The company updated its full year 2024 outlook to grow operating profit (beia) organically in the range of 4% to 8%. The company said in April that it expected to grow operating profit (beia) organically in the range of a low- to high-single-digit.
The company revised the expected organic net profit (beia) growth to be more closely in line with the expected operating profit (beia) growth.
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