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Heineken H1 Adj. Operating Profit More Than Doubles; FY Guidance Unchanged

Heineken N.V. (HKHHF.PK) reported first-half profit to shareholders, on IFRS basis, of 1.03 billion euros, compared to a loss of 297 million euros, a year ago. Earnings per share was 1.80 euros compared to a loss of 0.52 euros. Net profit (beia) was 896 million euros, an organic growth of 320.3% from prior year. Earnings per share (beia) was 1.56 euros compared to 0.39 euros. Operating profit (beia) was 1.63 billion euros, an organic growth of 109.3%.

For the six-month period ended 30 June 2021, net revenue was 10.01 billion euros compared to 9.24 billion euros, last year. Net revenue (beia) rose 14.1% organically, driven by an 8.2% increase in total consolidated volume, and a 5.5% increase in net revenue (beia) per hectolitre. Consolidated beer volume was up 9.6% organically.

Looking forward, Heineken projects full year financial results to remain below 2019.

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