Heineken Backs 2023 Guidance After 2022 Net Profit Fell But Beat Forecasts
15 Febrero 2023 - 12:56AM
Noticias Dow Jones
By Ian Walker
Heineken NV on Wednesday reported a 19% fall in 2022 net profit,
but beat analysts forecasts, and backed its full-year guidance.
The Dutch brewer reiterated that it expects input costs to rise
in the high-teens per hectoliter and significantly higher energy
costs, particularly in Europe.
It said input costs for 2022 increased organically in the
high-teens on a per hectoliter basis, driven mainly by commodity
price inflation, higher energy costs and premiumization. However
this was partially offset by channel mix effects in the first half
of the year from the re-opening of the on-trade and by structural
cost savings.
Consolidated beer volumes grew 6.9% organically in 2022, while
Heineken volumes grew 12.5%.
Net profit for the year was 2.68 billion euros ($2.88 billion)
compared with EUR3.32 billion a year earlier and a consensus of
EUR2.54 billion, taken from the company's website and based on the
estimates of 22 brokers.
Adjusted operating profit--one of the company's preferred
metrics, which strips out exceptional and other one-off items--was
EUR4.50 billion compared with EUR3.41 billion, while adjusted
operating margin was 15.7% compared with 15.6%.
Adjusted operating profit consensus was EUR4.43 billion
For the year ahead Heineken reiterated that it expects adjusted
operating profit to grow mid- to high-single-digit organically,
while net revenue--which excludes excise tax expenses--will grow
organically ahead of operating profit.
For 2022 adjusted operating profit grew 24% organically, while
net revenue grew 30%.
Net revenue rose to EUR28.72 billion compared with EUR21.94
billion and a consensus of EUR28.39 billion.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
February 15, 2023 01:41 ET (06:41 GMT)
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