Crates of beer on the conveyor belt of the Heineken brewery in Zoeterwoude
Heineken on Wednesday reported quarterly sales that beat expectations, thanks to its non-alcoholic beers and higher prices, and kept its forecast unchanged for the full year.
The world’s second largest brewer recorded an increase of 3.3% year-on-year in its organic net turnover, slightly exceeding the expectations of analysts who expected growth of 3.2%.
During its half-year results, Heineken disappointed investors with results lower than expected and a less than encouraging outlook.
The flagship Heineken brand, which is priced higher than other brands in the group’s portfolio, drove growth with volumes up 8.7% globally. Volumes increased by 11% for non-alcoholic beers and cider.
Overall, however, volumes increased by only 0.7% and fell in two of Heineken’s three main regions.
“Our company continues to deliver results in line with our plan overall, even though some markets are facing challenging consumer and industrial trends,” Chief Executive Dolf van den Brink was quoted as saying in a press release.
Heineken maintained its guidance for the full year, expecting organic operating profit growth of 4% to 8%.
On the Amsterdam Stock Exchange, Heineken shares gained more than 1% in early trading.
(Written by Emma Rumney, French version Elena Smirnova, edited by Blandine Hénault)
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