Coronavirus makes Heineken profits go flat in first half of 2020

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World's second-largest brewer says it expects a net loss of €300 mil for the January-June period. FMTNews

THE HAGUE: Dutch brewing giant Heineken said Thursday the impact of coronavirus containment measures had “deepened” in the second quarter, seeing net profit crash by more than 75% in the first half of the year.

“As expected, the impact of the Covid-19 crisis deepened in the second quarter of 2020,” the Amsterdam-based brewer said in a statement. Beer volume, down by 11.5%, was most affected in the Americas and Africa, for example by full lockdowns in Mexico and South Africa, as well as in the Middle East and Eastern Europe.

 

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