(GLOBE NEWSWIRE via COMTEX) -- Amsterdam, 8 April 2020 - Heineken N.V. /zigman2/quotes/202537894/composite HEI.A +0.68% (otcqx:HEINY) 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 HEINEKEN teams are mobilised to enable the company 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 has successfully secured additional financing on the debt capital market in recent weeks. 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.
Tim van der Zanden / Michael Fuchs
Investor and analyst enquiries
Federico Castillo Martinez/ Janine Ackermann / Robin Achten
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(R) brand, the Group has a portfolio of more than 300 international, regional, local and specialty beers and ciders. We are 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.We employ over 85,000 employees and operate breweries, malteries, cider plants and other production facilities in more than 70 countries. Heineken N.V. and Heineken Holding N.V. shares trade on the Euronext in Amsterdam. Prices for the ordinary shares may be accessed on Bloomberg under the symbols HEIA NA and HEIO NA and on Reuters under HEIN.AS and HEIO.AS. HEINEKEN has two sponsored level 1 American Depositary Receipt (ADR) programmes: Heineken N.V.(otcqx:HEINY) and Heineken Holding N.V. (otcqx:HKHHY). Most recent information is available on HEINEKEN's website: www.theHEINEKENcompany.com and follow us on Twitter via @HEINEKENCorp.
Market Abuse Regulation
This press release may contain price-sensitive information within the meaning of Article 7(1) of the EU Market Abuse Regulation.
- Please click here for full press release.
Copyright (C) 2020 GLOBE NEWSWIRE. All rights reserved.