Heineken Holding N.V. reports on 2020 first quarter trading

Amsterdam, 22 April 2020 – Heineken Holding N.V. (EURONEXT: HEIO; OTCQX: HKHHY) today publishes its trading update for the first quarter of 2020.

KEY HIGHLIGHTS

• Beer volume -2.1% organically for the quarter.
• Heineken volume +5.0% in the quarter.
• March volume significantly impacted by Covid-19.

Heineken Holding N.V. engages in no activities other than its participating interest in Heineken N.V. and the management or supervision of and provision of services to that company.

FIRST QUARTER VOLUME BREAKDOWN

Beer volume1 (in mhl or %)	1Q20	Organic growth %	March organic growth %	Total  growth %	1Q19
Consolidated beer volume	51.6	-2.1%	-14.0%	-2.1%	52.7

Heineken volume1 (in mhl or %)	1Q20	Organic growth %
Heineken N.V.	9.4	5.0%

^{1  Refer to the Definitions section for an explanation of organic growth and volume metrics.}

FIRST QUARTER VOLUME REVIEW

With the spread of the Covid-19 crisis to all geographies, multiple countries have taken far-reaching containment measures such as restrictions of movement for populations and outlet closures, sometimes combined with the mandatory lockdown of production facilities. This is having a significant impact on HEINEKEN's markets and on its business in 2020 and is already visible in the volume reported for the first quarter. In most cases these measures were implemented in the last weeks of March. By exception, specific reference is made to the volume performance in March to improve transparency.

Heineken brand

• Heineken volume grew by 5.0% in the quarter, with a decline of 2.4% in March.
• Volume grew double digit in Brazil, China, Mexico, the UK, Poland, Mozambique, Ivory Coast and South Korea among other markets. 
• Heineken 0.0 was introduced in Vietnam in March and is now present in 58 countries.

BUSINESS IMPACT AND MITIGATING ACTIONS 

The initial impact of the Covid-19 crisis is visible in the volume performance of this quarter and is expected to worsen in the second quarter of 2020. The second half of the year is also expected to be impacted, as lockdowns may be lifted but the impact on the economy is likely to remain. HEINEKEN's results in 2020 will be impacted by lower volumes and other effects, including: