Heineken H1 Net Profit Rises

Heineken NV (HKHHF.PK), a Dutch brewing company, on Monday posted a rise in earnings for the first half, helped by recovery in Asia Pacific and the on-trade in Europe as consumers returned to the bars.

In addition, the company has also raised its interim dividend by 0.22 euro per share.

For the first six-month period, the Amsterdam-headquartered firm reported a net profit of 1.26 billion euros or 2.20 euros per share, compared with 1.03 billion euros or 1.80 euros per share a year ago.

On BEIA basis, net earnings were at 1.32 billion euros or 2.30 per share, higher than 896 million euros or 1.56 euros per share reported for the previous year period.

Operating profit moved up to 2.07 billion euros from 1.71 billion euros on a year-over-year basis

Net revenues stood at 13.48 billion euros, versus 10.10 billion euros, during the corresponding period of 2021.

On August 11, the brewer will pay an interim dividend of 0.50 euro per share, compared with the last year's 0.28 euro per share. The shares will trade ex-dividend on August 3.

Looking ahead, for the fiscal 2022, the company continues to expect a stable to modest sequential improvement in operating profit margin (Beia) versus last year.

For the fiscal 2023, Heineken,said: "We are changing our previous guidance for 2023. We will move from an operating profit margin objective towards delivering operating profit (beia) organic growth, in the range of a mid- to high-single digit, excluding any major unforeseen macroeconomic and political developments. Over the medium term, we reconfirm our aspiration to deliver superior, balanced growth with operating leverage over time."

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