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.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
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.
Copyright (c) 2020 CercleFinance.com. All rights reserved.