Heineken falls as it cuts 2023 forecast on Asia weakness

Heineken Holding NV

31/07/2023 08:22

** Shares in Heineken  HEIO.AS  fall 4.5% after the Dutch
brewer lowered its 2023 guidance, citing weakness in the Asian
market
    ** Heineken expects growth in operating profit before
one-offs of between zero and a mid single-digit percentage
increase, against the previous forecast of mid to high
single-digits
    ** Heineken says results in Asia were affected by an
economic slowdown, notably in Vietnam, one of the company's
largest markets, which is facing reduced global demand for its
exports
    ** The company's H1 revenue rises 6.3% yoy to 17.43 billion
euros ($19.2 billion), while operating profit drops 22.2% to
1.61 billion
    ** Shares are on track for worst day since October 26, 2022
    ** Danish rival Carlsberg  CARLb.CO  falls 1.3% in morning
trade

($1 = 0.9080 euros)

 (Reporting by Dina Kartit)
 ((dina.kartit@thomsonreuters.com))