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Kraft Heinz Reports Preliminary Financial Results for the First Half Of 2019

Nachrichtenquelle: Business Wire (engl.)
08.08.2019, 13:42  |  1279   |   |   

The Kraft Heinz Company (Nasdaq: KHC) (“Kraft Heinz” or the “Company”) today reported preliminary financial results for the first half of 2019 that reflected lower net sales despite improving consumer takeaway trends in key markets, as well as the adverse impacts of ongoing cost inflation, greater investments, and higher depreciation and amortization expenses. Results also included preliminary non-cash impairment charges related to goodwill and intangible assets that more than offset a one-time gain on the sale of the Company's India nutritional beverages business.

“The level of decline we experienced in the first half of this year is nothing we should find acceptable moving forward," said Kraft Heinz CEO Miguel Patricio. "We have significant work ahead of us to set our strategic priorities and change the trajectory of our business. But in my short time with the company, I have developed a strong appreciation for the affinity consumers around the world continue to have for our brands, the talent and determination of our employees, as well as the commitment of our customers. We have a lot to work with and build upon, and our team is motivated by the opportunity to drive the next phase of growth and profitability for Kraft Heinz and our shareholders."

H1 2019 Financial Summary

 

For the Six Months Ended

 

Year-over-year Change

 

June 29, 2019

 

June 30, 2018

 

Actual

 

Currency

 

Acquisitions
and
Divestitures

 

Organic

 

(in millions, except per share
data)

 

 

 

 

 

 

 

 

Net sales

$

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