Heineken: withdraws annual guidance over coronavirus

(CercleFinance.com) - Heineken has pulled its financial forecasts, citing a lack of visibility regarding when the Covid-19 pandemic will end and the impact that the virus will have on the economy.


The Dutch beer giant withdrew its earnings guidance for 2020, after beer sales fell by about 4% in organic terms in the first quarter, with beer volume down around 2%.

The impact is expected to worsen in the second quarter, Heineken warned in a statement this morning.

The company said that it will provide more information in its 2020 first quarter trading update, scheduled for 22 April.

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