Brazilian Real Is Biggest Threat to Heineken's Revenue -- Currency Comment
By Mauro Orru
Dutch brewer Heineken expects a negative currency translational
impact on revenue, operating and net profit for the year, citing
the Brazilian real as the biggest threat to its topline.
"We see the biggest individual impact on revenue coming from the
Brazilian real but given our international exposure we also see
impact from other currencies like the Nigerian Naira and others,"
The company has a presence in more than 70 countries. Before
exceptional items and amortization, the company expects hits of
around EUR570 million on net revenue, EUR100 million on operating
profit, and EUR50 million on net profit.
The euro has risen almost 50% against the Brazilian real since
the start of 2020, and year-to-date it has gained 5.4% against the
currency, according to FactSet.
Write to Mauro Orru at firstname.lastname@example.org; @MauroOrru94
(END) Dow Jones Newswires
April 21, 2021 09:51 ET (13:51 GMT)
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