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Heineken Holding profit misses consensus by 38.7% in H1

Heineken Holding NV said its first-half normalized net income came to €1.17 per share, compared with the S&P Capital IQ consensus estimate of €1.90 per share.

EPS fell 16.5% year over year from €1.39.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €335.6 million, a decrease of 16.5% from €401.8 million in the prior-year period.

Total revenue increased year over year to €10.47 billion from €10.09 billion, and total operating expenses climbed from the prior-year period to €8.84 billion from €8.64 billion.

Reported net income grew 48.5% from the prior-year period to €440.7 million, or €1.53 per share, from €296.7 million, or €1.03 per share.