Report
Nikolaas Faes

HEINEKEN: Cutting costs as beer sales slide 14% in March | NEUTRAL | EUR82 vs. EUR86 (+9%)

HEINEKEN - NEUTRAL | EUR82 vs. EUR86 (+9%)
Cutting costs as beer sales slide 14% in March

Q2 will be worse and Covid-19 impact will linger on in H2
Mitigating actions to compensate margin pressure
EM currency weakness to further erode profits
Underlying
Heineken Holding N.V.

Heineken Holding is a holding company based in the Netherlands. Through its subsidiaries, Co. promotes the continuity, independence and stability of the Heineken group. This creates the conditions which enable Heineken N.V. to pursue its long-term policy in the interest of the shareholders, the staff and other stakeholders. Co. does not engage in operational activities itself. These have been assigned within the Heineken group to Heineken N.V. and its subsidiaries and associated companies. Through Heineken N.V., Co. is involved in the brewing and selling of beer.

Provider
Bryan Garnier
Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

Analysts
Nikolaas Faes

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