HINKF - Heineken reports 1H results

Heineken (OTCQX:HEINY): 1H Non-GAAP EPS of €1.56; GAAP EPS of €1.80. Revenue of €9.97B (+7.9% Y/Y) "Beer volume grew +9.6%, led by strong growth in Heineken of 19.6% with over 50 markets in double-digit growth. Our operating profit (beia) more than doubled driven by top-line leverage, continued cost mitigations and structural cost savings, further helped by the phasing of marketing and sales expenses into the second half," commented Dolf van den Brink, CEO and Chairman of the Executive Board. The company expects headwinds in input costs in H2 2021 and a material impact from commodity costs in 2022. As a consequence, it expects operating profit margin (beia) to be lower in H2 compared with H2 2020, and full year financial results below 2019. Press Release

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Heineken reports 1H results