Heineken H1 Beer Volumes Dips On Weakness In Vietnam & Nigeria, Cuts 2023 Outlook
Portfolio Pulse from Lekha Gupta
Heineken NV reported a 6.3% Y/Y revenue growth in H1 2023 to €17.44 billion, despite a 5.6% Y/Y decline in beer volume due to weak performance in Vietnam and Nigeria. The company's net profit fell 8.6% Y/Y to €1.16 billion, and EPS was down 7.3% Y/Y to €2.04. Heineken revised its 2023 operating profit growth outlook to stable to mid-single-digit organic growth. The company expects a strong turnaround in operating profit growth in the second half of the year.
July 31, 2023 | 11:00 am
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Heineken's H1 2023 results show a mixed performance with revenue growth but a decline in beer volume and net profit. The company has revised its 2023 operating profit growth outlook downwards.
Heineken's H1 2023 results show a mixed performance with revenue growth but a decline in beer volume and net profit. This mixed performance, along with the downward revision of the 2023 operating profit growth outlook, could negatively impact investor sentiment and put downward pressure on the stock in the short term.
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